Secured Delivery System Using Ethereum Blockchain Technology

Abstract

Online trading requires trust between unfamiliar parties, often facilitated by third-party services. This thesis explores leveraging blockchain technology to enhance trust in such transactions, building on its decentralized nature introduced by Bitcoin for peer-to-peer money transfers.A decentralized application (dApp) is developed for storing product tracking and agreement data on a blockchain, aiming to reduce fraud and enhance trust while enabling real-time product tracking. This blockchain-based system demonstrates a significant reduction in fraud risks and an improvement in overall trust compared to traditional third-party services by establishing a Decentralized Autonomous Organization (DAO) environment [12]. Importantly, it eliminates transaction value limitations.However, the inherent limitations of blockchain technology, such as data storage and transfer speed, present usability challenges. Integrating logistics companies into blockchain contracts exacerbates these issues. While blockchain solutions may not address all aspects of online trading services, their potential improvements make them appealing to certain users. This research underscores the importance of considering both the technical capabilities and limitations when implementing blockchain-based trade agreements and highlights the tradeoff between scalability and security.