Blockchain framework for smart contract and distributive ledger for entity marketplace

Abstract

In the present era of digitalisation, maintaining tamper-resistant records at centralised nodes is becoming more and more difficult. Blockchain technology, which is considered as the backbone of cryptocurrency, is gaining immense popularity due to its decentralised approach to store and verify the data. Blockchain technology gives the freedom to develop a user-specific validation protocol, which helps to maintain tamper-resistant logs of all the activities, known as transactions, performed on a private/public network of blockchain. Because of blockchain components such as data privacy and security, not only the private sector is shifting its interest towards the technology, the public sector and government authorities are also looking forward to this technology. This manuscript targets to propose the use case model of blockchain technology by developing the smart contract and distributive ledger for entity market place. This framework contains all required processes, functions, and services for making a reliable platform for marketing new and old entities.