Asif Irshad Khan, Abdullah Alghamdi, Fawaz Alsolami, Yoosef B. Abushark · 9 authors
The blockchain technology plays a significant role in the present era of information technology. In the last few years, this technology has been used effectively in several domains. It has already made significant differences in human life, as well as is intended to have noticeable impact in many other domains in the forthcoming years. The rapid growth in blockchain technology has created numerous new possibilities for use, especially for healthcare applications. The digital healthcare services require highly effective security methodologies that can integrate data security with the available management strategies. To test and understand this goal of security management in Saudi Arabian perspective, the authors performed a numerical analysis and simulation through a multi criteria decision making approach in this study. The authors adopted the fuzzy Analytical Hierarchy Process (AHP) for evaluating the effectiveness and then applied the fuzzy Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) technique to simulate the validation of results. For eliciting highly corroborative and conclusive results, the study referred to a real time project of diabetes patients’ management application of Kingdom of Saudi Arabia (KSA). The results discussed in this paper are scientifically proven and validated through various analysis approaches. Hence the present study can be a credible basis for other similar endeavours being undertaken in the domain of blockchain research.
Purpose-Blockchain has emerged as high impact disruptive technology and surpassed most of the aggressive predictions in banking and finance domain. The changing landscape in digital banking has forced the entire banking sector to look at blockchain technology as future of transactions. Blockchain is disrupting the banking industry and contributing to the increased efficiency and speed in banking. However, there exists a gap in research and development into block-chained processes in banking from an academic perspective, and this paper ia an attempt to put together the research work done in the field of blockchain adoption in banking. Methodology-This paper's literature review process follows common and established guidelines (Levy and Ellis, 2006; Okoli, 2015; von Brocke et al., 2009; Webster and Watson, 2002) and is summarized thoroughly. We considered the IS literature in both the blockchain and the banking context. In the first step, we conduct a separate review on both streams of literature to derive a general understanding of their current state of development. In the second step, we then conflate the relevant literature and discuss it within a joint analytical framework. In doing so, we identify paths for future research and discuss the potential of blockchain technology for banking and finance sector. Findings-In this paper we discuss the impact that blockchain will have on banking in future and show the increasing importance of distributed ledger based transactions for the banking industry. Finally, this paper brings together the research work published in several reputed databases, in hope of motivating more active engagement by academics, researchers and bankers alike. A comprehensive review of the blockchain adoption in banking to date and across the geographic areas is presented as a result of comprehensive review of literature.
Awsan Mohammed, Ahmad Almousa, Ahmed M. Ghaithan, Laith A. Hadidi
Construction is prone to disputes similar to other business dealings. Construction delays are the most common causes of disputes in construction projects. Most of the time, construction projects are delayed not only because of a lack of funding, but also because of disputes between the contractor and the client. Blockchain Technologies (BCT) have the potential to make the construction industry more efficient, inexpensive, or completely automated. In this paper, an extensive literature review is conducted to locate authoritative sources about the most common applications of blockchain technology in the construction industry. The study aims to identify the potential, benefits, challenges, and uses of blockchain in the construction industry. Furthermore, this paper explores the roles of BCTs in improving and enhancing the workflow efficiency of construction projects. In addition, this paper identifies the major causes of disputes and delays in the construction industry. These causes were used as the baseline for identifying the most relevant solutions provided by blockchain technologies to develop a matching model to find applicable solutions from the literature cases to resolve the identified causes of disputes and delays. The research findings indicated that the common cases of BCT including administrative purposes, smart contracts for transactions, permanent transaction records, and permanent ownership records contribute to solving the causes of disputes and delays in construction projects. The findings of this paper recommend that both public and private stakeholders in the construction sector adopt blockchain technologies and blockchain-based Building Information Models (BIMs) to improve construction workflows and processes.
Blockchain technology is a disruptive technology which has revolutionised the conventional business models, traditional business transaction work flows and opening the door to huge opportunities of business value co-creations. Blockchain holds the promise to disrupt various industries and organisations, and one of the most well-known areas is its applications to the banking and finance sector. This qualitative study has analysed state-of-the-art blockchain research and technology in the banking and finance sector. Firstly, we selected and reviewed 76 literature in the banking and finance sector from 2016 to 2020 and provided a critical bibliometric review of existing literature. Secondly, we applied the well-known thematic analysis methodology to systematically identify the hot research topics, five potential business benefits and three types of potential challenges of applying blockchain technology to the banking and finance sector. Finally, we concluded by summarising the limitations of our study and subsequently highlighted future research directions. Despite several studies in other fields, no systematic review has thus far synthesised the research on blockchain application in this field to the best of the authors’ knowledge. Hence, the current study provides a starting point for future research and facilitates the work of both academic scholars and industry practitioners.
Owing chiefly to the lack of suitable technology solutions, India is experiencing both shortage and wastage of blood units. In addressing such a challenge, we explore the unique role of Blockchain and Internet-of-things technologies in the overall blood supply chain management as an appropriate technology solution. Our study employs an integrated Task-Technology Fit and Technology Acceptance Model to empirically test and identify key factors influencing the adoption intention of the Blockchain and Internet-of-things enabled system. With the need to preserve donor and recipient data integrity and data privacy, the respective state and national health departments strictly regulate blood banks. Accordingly, our study also explores the role of government in supporting and overseeing security concerns in the future adoption of the Blockchain and Internet-of-things technologies. Finally, a solution based on the Blockchain and Internet-of-things technologies to ensure the sufficient availability of blood units at the national level is envisioned.
Yi Xie, Jiayao Zhang, Honglin Wang, Pengran Liu · 10 authors
BACKGROUND: As a distributed technology, blockchain has attracted increasing attention from stakeholders in the medical industry. Although previous studies have analyzed blockchain applications from the perspectives of technology, business, or patient care, few studies have focused on actual use-case scenarios of blockchain in health care. In particular, the outbreak of COVID-19 has led to some new ideas for the application of blockchain in medical practice. OBJECTIVE: This paper aims to provide a systematic review of the current and projected uses of blockchain technology in health care, as well as directions for future research. In addition to the framework structure of blockchain and application scenarios, its integration with other emerging technologies in health care is discussed. METHODS: We searched databases such as PubMed, EMBASE, Scopus, IEEE, and Springer using a combination of terms related to blockchain and health care. Potentially relevant papers were then compared to determine their relevance and reviewed independently for inclusion. Through a literature review, we summarize the key medical scenarios using blockchain technology. RESULTS: We found a total of 1647 relevant studies, 60 of which were unique studies that were included in this review. These studies report a variety of uses for blockchain and their emphasis differs. According to the different technical characteristics and application scenarios of blockchain, we summarize some medical scenarios closely related to blockchain from the perspective of technical classification. Moreover, potential challenges are mentioned, including the confidentiality of privacy, the efficiency of the system, security issues, and regulatory policy. CONCLUSIONS: Blockchain technology can improve health care services in a decentralized, tamper-proof, transparent, and secure manner. With the development of this technology and its integration with other emerging technologies, blockchain has the potential to offer long-term benefits. Not only can it be a mechanism to secure electronic health records, but blockchain also provides a powerful tool that can empower users to control their own health data, enabling a foolproof health data history and establishing medical responsibility.
This study aims to build smart supply chains for the first time using the internet of things (IoT) and blockchain. Classification and clarification of causal relationships can provide a useful framework for researchers and professionals who seek to implement an intelligent supply chain using IoT tools in a blockchain platform, and it also demonstrates the intensity of communications indicating such relationships. The research methodology is mixed method, comprised of qualitative and quantitative methods. The qualitative method includes the Delphi method used for selecting indigenous components and features proper for the pattern. The quantitative method is the Dematel method used for assessing the relationships between the available concepts in the pattern and accessing the network structure between components. Interpretative Structural Modeling is also employed to classify the network structure obtained from the Dematel technique. The findings of the study identify indicators of IoT and blockchain as causes based on Dematel, application of tools, components interconnectedness, optimal decision making, automatedness, integration, innovation and learning, which are indicators of smart supply chain, are the effects in this study.
In the era of the fourth industrial revolution, all aspects of the industrial domain are being affected by emerging technologies. Digitalization of every process is taking place or under process. One of the most important components common to every domain is the supply chain process. Organizations employ a digital supply chain to track the delivery of their products or materials. The digital supply chain is still suffering from a few issues such as no provenance, less transparency, and a trust issue. Blockchain technology, one of the emerging technologies, can be integrated with the supply chain to deal with the existing issues and to improve its performance. In this paper, a model is proposed to integrate blockchain technology with the supply chain to improve performance. The proposed model uses the combination of the Ethereum blockchain and the interplanetary file system to maintain the traceability, transparency, and trustworthiness of the supply chain.
Blockchain-based applications can enhance the sharing of information in processes involving multiple types of stakeholders, as in Supply Chain Management (SCM). A supply chain network can benefit from the visibility of the flow of goods, money, and information enabled by blockchain technology. So far, only limited evidence is available on the perspective of Small and Medium-sized Enterprises (SMEs) on the adoption of blockchain-based applications in their business processes. This may lead to a heavily diminished role for SMEs in SCM if large consortia unilaterally decide to adopt a blockchain-based architecture to improve the performance of the entire supply chain. Therefore, we conducted a study to explore which factors influence SMEs’ intention to adopt blockchain technology. Based on a literature review into technology adoption frameworks, we derived the technological, organizational, and environmental (TOE) factors that can play a role in their decision-making process. We distributed a survey amongst European SMEs using the multi-criteria decision-making method of the Best-Worst Method (BWM) to elicit the relative weights of these factors. The data analyses show that in contrast to other studies into technology adoption, the SMEs’ intention to adopt blockchain-based applications is primarily influenced by organizational rather than by technological and environmental factors. This implies that SMEs are best supported by showing blockchain’s organizational benefits and by training senior executives at their company.
Katharina Sigalov, Xuling Ye, Markus König, Philipp Hagedorn · 10 authors
Construction projects usually involve signing various contracts with specific billing procedures. In practice, dealing with complex contract structures causes significant problems, especially with regard to timely payment and guaranteed cash flow. Furthermore, a lack of transparency leads to a loss of trust. As a result, late or non-payment is a common problem in the construction industry. This paper presents the concept of implementing smart contracts for automated, transparent, and traceable payment processing for construction projects. Automated billing is achieved by combining Building Information Modeling (BIM) approaches with blockchain-based smart contracts. Thereby, parts of traditional construction contracts are transferred to a smart contract. The smart contract is set up using digital BIM-based tender documents and contains all of the relevant data for financial transactions. Once the contracted construction work has been accepted by the client, payments can be made automatically via authorized financial institutions. This paper describes the framework, referred to as BIMcontracts, the container-based data exchange, and the digital contract management workflow. It discusses the industry-specific requirements for blockchain and data storage and explains which technical and software architectural decisions were made. A case study is used to demonstrate the current implementation of the concept.
Blockchain is one of the most disruptive innovations in the field of technology in 21st century. Blockchain, a distributed ledger technology (DLT) and smart contracts, has emerged as a ground-breaking application in the financial sector. The three key properties of Blockchain technology, Decentralization, Transparency and Immutability have created a huge impact on the banking and finance industries. As technology is the main driving force in Blockchain and its various applications, it will also act as an enabler to sustainable finance which will ultimately lead towards achieving sustainable economy and also sustainable development. This study is an attempt to understand the far-reaching potential of Blockchain technology and its applications such as Bitcoin in the banking and financial services sector. This study has also highlighted the benefits and disadvantages of using Blockchain technology on the banking and finance industries. This study is entirely a theoretical overview based on the available research in the area of Blockchain technology and its application in financial sector. This study will help to understand the future of financial sector in the advent of incorporation of Blockchain technology.
Abstract Blockchain Technology, the fundamental technology behind Bitcoin, has drawn considerable recognition ever since its origin. Its potential has gained significant interest in various applications, varying from the music industry, financial services, Internet‐of‐Things (IoT), smart grid, edge computing, cybersecurity, and the healthcare industry. However, the information is divided amongst several intermediaries involved with adverse impacts on data quality in the healthcare domain. In the near future, blockchain technology can reshape the way the healthcare industry works by providing personalized and reliable patient data management, reforming the traditional healthcare practices, secure mechanisms for data sharing, efficient pharmaceutical supply chain management, and drug traceability and many more. In this study, an extensive literature review has been provided that includes the different prospects of using blockchain technology in healthcare. The review investigates the work done to enable the amalgamation of IoT and Blockchain in the health ecosystem. Significant blockchain‐based healthcare use cases such as data storage, data sharing, drug traceability, clinical trials, and remote patient monitoring are investigated. Further, the Internet of Things and blockchain technology‐based SWOT (Strength, Weakness, Opportunity, and Threat) analysis and the challenges linked in the healthcare domain because of the enactment of IoT and blockchain technology are discussed to support advanced studies in this domain.
Purpose/objectives: in the last ten years, the implementation of blockchain (BC) technology offers many opportunities for all economic sectors such as finance, health, trade, agriculture, etc. This technology based on distributed digital ledger collects and stores data permanently and in an ordered way, allowing stakeholders to have access to information cryptologically protected. Since 2014, the blockchain technology has been introduced in the tourism industry with the goal to improve this sector. In this contest the present study intents to: 1) carrying out a systematic literature review (SLR) on the implementation of BC technology in tourism economic sector; 2) providing an analysis of its advantages and future challenges.
Blockchain technology has been explored for governmental supervision of construction work (GSCW) due to its merits of traceability, immutability, and transparency. However, its decentralized nature is seemingly incompatible with GSCW, which is a type of centralized governance per se. This research aims to find a network topology with a proper level of (de)centralization and, based on this topology, to develop a blockchain-based model for GSCW. First, a literature review is conducted to identify problems in GSCW. Then, a cross-sectoral learning is performed between GSCW and digital currency electronic payment systems. Next, a design science research method is adopted to develop a dual-layer blockchain-based GSCW model integrated with an incentive mechanism. Finally, the model is illustrated in Hyperledger Fabric and its strengths and weaknesses evaluated. It was found that the model can enable an information-sharing, tamper-proof, and privacy-preserving mechanism without affecting the current status and routines of GSCW units and project teams. The model developed in our study can serve as a valuable reference for policymakers, practitioners, and researchers to develop governance policies or blockchain applications.
Blockchain network and technology is a peer-to-peer distributed system that operates in a decentralized manner. The two concepts enable to create a secure environment and allow users to exchange transactions, contracts and data thereby establishing trust amongst the users. The current study aims to investigate the issues faced in the financial sector by means of applying blockchain technology. For this, the current study provides an overview of blockchain technology and analyze the major issues and challenges faced in financial sector due to the application of the blockchain technology. It is believed that traditional system tends to be cumbersome, error-prone and slow and unsafe, in contrast, users find the blockchain as cheaper, transparent and more effective. Particularly blockchain technology provides the banking sector, security, performance, and cost reduction in many of their processes and provides quality of services to their users.
Miza Shazwani Kamarulzaman, Noor Hafizah Hassan, Nur Azaliah Abu Bakar, Nurazean Maarop · 6 authors
With the rapid digitalisation of the economy nowadays, it is becoming increasingly important for organisations to embrace digital innovation. The emergence of blockchain technology illustrates digital innovation's disruptive impact and, at the same time, poses challenges to organisations. This study has been assisting government organisations in blockchain adoption that is reflected in far-reaching measures in terms of technology, organisation, and environment. Based on this framework, this research builds on an empirical study to explore the technology, organisation, environment and trust adoption of blockchain technology. This proposed framework aims to assist the government in developing blockchain adoption based on the baseline theory models, which are Technology, Organization, Environment (TOE), emphasis on trust and other blockchain adoption theories. This research uses a conventional literature review to identify the factors influencing blockchain adoption. Preliminary investigation has been conducted prior to develop the proposed framework. The interview session was conducted to verify the availability of the blockchain technology in government organisations. The proposed conceptual model can be valuable to government organisations and may assist those government organisations which consider blockchain technology in the organisation to be more secure.
Jul 9, 2021·Proceedings of the 9th World Construction Symposium 2021 on Reshaping construction: Strategic, Structural and Cultural Transformations towards the 'Next Normal'
The construction industry is one of the largest industries in any country, contributing significantly to economic growth. A range of researchers explained that the construction industry suffered from numerous issues where financial issues are more critical. Late payments, cash flow issues, and lack of security of the payment are some of them. Blockchain technology shows a potential use for managing financial activities. Therefore, this research tends to investigate the applicability of blockchain technology to manage financial issues in the Sri Lankan construction industry. A comprehensive literature survey was carried out to assess the concept of blockchain technology and identified financial issues in the construction industry. A qualitative expert opinion survey was conducted with eight construction experts who had knowledge of the blockchain technology, selected through purposive sampling to collect data in a Sri Lankan context. The collected data was analysed using the content analysis method. The findings of the expert interviews indicated that faster transactions would help to reduce late payments; removing third parties from the transaction will reduce the involvement of many parties in the transaction process; and trust, security, transparency will help to increase foreign investments. Further, the lack of knowledge in the area, legal and tax issues, low investment, and social issues will be the challenges in adopting blockchain technology to the construction industry. The research finally suggests the ways to overcome such challenges in terms of using pilot projects, government rules and regulation. Thus, the research proposes that use of blockchain technology could minimise a significant number of financial issues in the construction industry.