Blockchain-Based Financial Transparency Models for Leather Export Industries in India

Abstract

The leather export sector in India is confronted with repeated issues of providing financial transparency, traceability, and trust of the stakeholders because of a fragmented payment system and manual records. To resolve these, a blockchain-based financial transparency model is elaborated based on a distributed ledger, which operates under smart contracts, ensuring immutable records of transactions and automated verification. The model uses a secure financial exchange by using hash-based encryption and a consensusbased validation in order to synchronize export payments between decentralized nodes. The Ethereum-based Hyperledger Fabric was simulated to check the accuracy, latency, and scalability of the model. Experimental results indicate that there is a 31.7 % increase in financial traceability, 24.5 % decrease in processing delay, 18.9 % increase in cost efficiency, and 27.6 % high trust score among existing methods. The proposed framework will provide real-time, non-tampered, and verifiable financial transactions, which will provide a long-term solution to the Indian leather export industry with a pathway to transparent and responsible export management.