Whether it be societal decision making like voting or economic activities such as financial transactions, Centralisation is widespread in all-sphere, the emergence of „Blockchain distributed ledger technology" is considered one of the technological breakthrough, to cautiously address the problem outcomes of centralization. Proponents contend that Blockchain will touch every major industry and will alter the way that people and society interact. The Blockchain revolution pushing the world into a new era, predicted on openness, merit, decentralisation and global participation. As per NASSCOM Avasant India Blockchain Report 2019,over 40+ blockchain initiatives are being executed by the public sector in India, with nearly 8% in execution Phase & around 92% in POC-Phase. This study explores some potential and existing use cases for Blockchain in several industries such as finance, healthcare, insurance, retail & ecommerce and media & entertainment. Further, the plausible potentiality of Blockchain along with its limitations, to address far reaching implications for value delivery and socio-economic development, is assessed employing SWOT-analysis. The paper covers applicability aspects of Blockchain with relevance to the future directives.
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Blockchain Technology Applications and Security
Innovations and Analysis in Business and Education
this study rigorously scrutinizes the revolutionary impact of artificial intelligence (AI) on banking organizations within India. It definitively analyses the transformative effects of AI on the Indian financial industry by reviewing pertinent literature, compelling case studies, and empirical data. The paper first establishes the major ways. AI unequivocally alters the financial sector. It then details how Indian Banking institutions effectively deploy AI across critical areas such as customer service, algorithmic trading, risk management, fraud detection, credit scoring, and regulatory compliance. The integration of AI into India’s financial ecosystem is highlighted through examples from major banks, fintech companies, and regulatory agencies, showcasing the methods used and the outcomes achieved. Furthermore, this study explores the impacts and challenges associated with AI implementation in the Indian banking industry [14]. It delves into the cultural factors, current regulations, data availability, talent acquisition, and regulatory frameworks that shape the application of AI in Indian banks. The combination of Decentralized finance and AI offers a revolutionary partnership that might completely change the sector, increase its flexibility, and lay the foundation for long-term viability. In recent years, AI and Decentralized finance have become prominent advances in technology that have attracted a lot of interest and acceptance. In conclusion, this study comprehensively analyses AI's effects on India’s banking sector. This research paper is based on secondary data with the help of various journal and websites. Researcher paper benefits to many Policymakers, practitioners, and scholars will find invaluable insights contributing to the growing literature on technology-driven transformations. The recommendations provided will enable stakeholders to effectively harness AI’s capabilities while proactively addressing inherent risks and challenges, thereby enhancing the resilience, efficiency, and customer-centric focus of financial institutions in India and ensuring their competitiveness in an increasingly digital landscape. This research highlights the need to adopt a-worthy strategies for the prevention of active fraud, eventually contributes to the integrity of financial systems.
Open access
Innovations and Analysis in Business and Education
Public Health Ration Distribution systems (PHRDS) are essential for ensuring food security for millions of people around the world. However, these systems are often plagued by challenges such as lack of transparency, corruption, and inefficiencies. These challenges can lead to food insecurity, limited coverage, and a lack of trust in the system. Block chain technology has the potential to address many of the challenges facing public ration distribution systems. Block chain is a distributed ledger technology that allows for the secure and transparent recording of transactions. In the context of the PDS, block chain could be used to create a tamper-proof record of the movement of subsidized commodities from the government to the end beneficiaries. The use of block chain technology would provide a number of benefits for the public ration distribution system. Increased transparency would make it much more difficult for individuals to divert or leak commodities. Enhanced accountability would help to reduce corruption. Improved efficiency would lead to faster distribution of subsidized commodities to beneficiaries. In addition to these benefits, the use of block chain technology could also help to build trust in the public ration distribution system. By providing a transparent and tamper-proof record of all transactions, block chain could help to ensure that subsidized commodities are reaching the people who need them most. The focus is on addressing the challenges faced by farmers in the procurement process of the Public Distribution System (PDS) in India. The proposed solution using block chain technology would involve creating a distributed ledger that would record all transactions related to the public ration distribution system. This ledger would be accessible to all stakeholders in the system, including the government, farmers, millers, transporters, and ration shop owners. This would create a tamper-proof record of the movement of commodities from the government to the end beneficiaries.
Abstract Key objectives: This review paper aims to highlight the importance of implementing crypto billing in the healthcare sector, with a specific focus on the Emirates Health Services (EHS) operating across the northern emirates of the UAE. The primary objective is to demonstrate how blockchain technology and smart contracts can enhance data security, privacy, and integrity in managing extensive electronic patient records. Methods: To achieve the objectives, a comprehensive review of literature and existing practices in healthcare billing and blockchain technology was conducted. The review focused on understanding the potential benefits of crypto billing, particularly in the context of the EHS. Additionally, insights from experts in blockchain technology and healthcare administration were gathered to inform the discussion on the implementation strategies. Results: The review underscores the potential of crypto billing, enabled by blockchain technology, to revolutionize healthcare billing processes. By automating and streamlining the billing process, crypto billing reduces administrative overhead and ensures greater transparency and accuracy in financial transactions. Moreover, the use of dynamic smart contracts allows for real-time, cryptocurrency-based payments, thereby facilitating decentralized decision-making and operational control with continuous system functionality. Conclusions: The review highlights the pressing necessity for adopting crypto billing within the healthcare sector. To realize the full potential of crypto billing, future efforts should focus on training healthcare professionals on utilizing smart contracts and decentralized payment gateways to optimize the efficiency of healthcare transactions and improve overall patient care.
Technology has always emerged to embolden the existing working process. On the one hand, it encourages transparency, accessibility and robustness in the system and on the other hand, it begets mitigation of the risks and allows us to detect, evaluate and eliminate vulnerability in the system. The most prominent technologies in todays’ world like Artificial Intelligence, Virtual/Augmented Reality, Automation, Cloud Computing are thriving to solve society’s problems and ensure the expedition in the process from its previous generation. Blockchain technology is no exception in providing the solution to eliminate the counterfeit markets across the globe and building trust among parties to do business without the fear of indulging or facing any unscrupulous business. Blockchain technology can ensure data privacy while improving supply chain transparency and reducing fraud. It can provide all stakeholders within a certain supply chain with access to the same information, potentially reducing errors. A decentralised application can pave the way to promulgate online pharmaceutical business where health information and each stakeholders’ data is not compromised. Against this backdrop the research conducted throws light on the challenges in the online medical drug and devices’ distribution and proposes a solution, an architectural design for blockchain technology in an online pharmaceutical platform to mitigate the counterfeit market while bringing efficiency to the ecosystem.
Aim: Critically investigating the possibility of adopting blockchain technology within the Nigerian pharmaceutical supply chain to curb the supply of counterfeit drugs. Study Design: The study is qualitative in nature and the primary data were fetched through interviews. Place and Duration of the Study: Conducted within Nigeria for a period of 3 months. Methodology: A qualitative method of data collection was adopted in the study, where some stakeholders were interviewed. The interviews were conducted with employees from different pharmaceutical companies and some drug regulatory agencies in Nigeria. Result: Firstly, this study has ascertained the current prevalence of counterfeit drugs and the reasons for that. The study discovers a very high level of counterfeit drugs and some reasons behind that. Secondly, this study has also found some barriers to blockchain adoption, including the fact that the level of awareness of blockchain technology among stakeholders within the Nigerian pharmaceutical supply chain and the regulatory agencies is very low. Conclusion: It was concluded that the efforts put in developing a viable COVID-19 vaccine could be undermined due to the current nature of the Nigerian pharmaceutical supply chain, the nature of porous borders in place, absence of an apparent drug distribution system, among others. This study also concludes that the supply chain's current structure needs more regulatory and structural interventions by the Nigerian government than blockchain technology. In other words, with the current nature of the supply chain, blockchain technology adoption would not be effective in delivering the said benefits reported by scholars because the atmosphere is not conducive for successful blockchain adoption.
Cross-contamination, counterfeit ingredients, false packaging, and labelling are all issues that contribute to food fraud which is a major concern undermining the integrity of the food supply chain and consumers health. Therefore, there is a need for an on-demand traceable, transparent food supply chain. This is a universal problem and blockchain presents itself as a means to maintain traceable, transparent food supply. This paper presents an innovative consensus algorithm and simulates the usage of it to identify the precision and recall of fraudulent food detection. This protocol aims to solve the issue of malicious leader node selection in common voting-based consensus protocols while achieving efficiency. Thus, providing a single version of truth for foods in a long food supply chain, preventing information asymmetries.
Najneen Shaikh, Suheb Shaikh, Gyankamal J. Chhajed
Counterfeit of medicine is major problem for consumer. Though there are more conventional methods for identifying counterfeit of medicine but they lack in security so to overcome this problem we are proposing secure software for medicine manufacturing supply chain management system by using blockchain technology. Blockchain technology is specially used in bitcoin cryptocurrency. It is characterized as an open-source, decentralized, distributed database for storing medicine information. Instead of relying on centralized intermediaries, this technology allows two parties to transact directly using duplicate, linked ledger called blockchain. Supply chain management is collection of activities required to plan, control and execute a products flow, from collecting raw materials and production through distribution to the final customer, in the most smooth and cost effective way possible. Supply Chain is beneficial when consumer or the organizations who want the information about medicine manufacturing at every stage to compare its quality. Confidential information related to medicine manufacturing is not to be unveil is accessible to authorized users.