Following the rapid development and the maturity of blockchain (BC) and the Internet of Things (IoT) technologies, this paper proposes two applications of a BC-IoT transaction model in the accounting field. The BC-IoT transaction model is capable of automatically collecting, uploading, and recording all relevant data in the enterprise transaction process under the premise of satisfying certain assumptions. This model does not require manual intervention at any point in the process; no data recorded on the distributed ledgers can be tampered with or revoked. The data collected using this model can be used as information on events, providing data support for the events approach to basic accounting theory. This practice responds to the important insight of sorter, who proposes the provision of accounting information in real time and on demand to substantially improve the usefulness of accounting information. This paper also identifies that BC technology can significantly improve the relevance, faithful representation, timeliness, comparability, and other aspects of accounting information quality.
INTRODUCTION: Blockchain technology is associated with the financial industry, but it can be applied to other industries. The supporting architecture of blockchain has the immense potential to transform the delivery of healthcare, medical, clinical, and life sciences, due to the extended functionality and distinct features of its distributed ledger. The potential scale of impact is comparable to that seen with the introduction of TCP/IP. Blockchain technology has captured the interest of healthcare providers and biomedical scientists within various healthcare domains such as longitudinal healthcare records, automated claims, drug development, interoperability in population health, consumer health, patient portals, medical research, data security, and reducing costs with supply chain management. It is not yet clear if blockchain is going to disrupt healthcare, but healthcare organizations are monitoring its potential closely for prospective concepts like secure patient IDs. Realistically, the adoption and implementation of blockchains will be a gradual evolution over time, but now is the time to take a fresh look at its possibilities in healthcare and biomedical sciences. Blockchain technology revolutionary solutions are bringing us closer to the possibility of every patient record being able to send updates to an open-source, community-wide trusted ledger that is accessible and understood across organizations with guaranteed integrity. AIM AND METHODS: This paper discusses as a review some potential areas of opportunity for blockchain in the health and biomedical sciences fields. RESULTS AND CONCLUSIONS: This paper describes and synthesizes 20 examples of real-world use-case scenarios for blockchains in healthcare and biomedical practice.
Railways around the world are moving towards digitalization to enhance their operations. The integration of railway data with other transport modes data becomes a vital part of the next generation of digital transport systems. One of the challenges for further digitization is data integration and security. This situation remains a challenge across organizations and industry boundaries. The blockchain is a new technology that might have the potential for acting as an enabler for the data integration and security challenge. In this paper a moderate literature review on the use of blockchain around different industries, in particular IoT applications, and in the railway context has been demonstrated. Opportunities and challenges that the blockchain technology can offer for the railway industry has been outlined.The paper has also looked at railway related blockchain current and potential applications. A simple analysis of the technology for the potential adoption rate has also been discussed. It was found that the blockchain can offer a number of benefits including added security and decentralization, however it will have a moderate technology adoption rate before it reaches it is transformative impact. In order to overcome some the adoption rate barriers in the railways, the author has developed a speech recognition and mobility based interface that can be utilized across different transport organizations, which can help in the data collection and pave the way for block chain applications. The solution was given the name of "inspectro".
Samuel Fosso Wamba, Jean Robert Kala Kamdjoug, Ransome Epie Bawack, John G. Keogh
This paper aims to bridge the knowledge gap in the existing literature on Bitcoin, Blockchain and Fintech. It begins by clarifying the definition of these concepts. Through a systematic review and case studies in the supply chain industry, this paper brings out the applications, the benefits/value, and the challenges/issues of Bitcoin, Blockchain and Fintech in several industries. It also presents the research methodologies/approaches used during such research. The classification framework developed and used to perform an analysis of 141 articles from five top academic databases serves as a baseline study. It offers the opportunity to evaluate the level of knowledge on Bitcoin, Blockchain and Fintech, and their evolution over time. The findings show that these technologies are evolving, and organizations are embracing them for competitive advantage. Thus, organizations need to leverage research on these technologies to better understand them, optimize their business strategies, and develop critical insights for decision-making.
May AlTaei, Nedaa Baker Al Barghuthi, Qusay H. Mahmoud, Sonia Al Barghuthi · 5 authors
A blockchain is a distributed ledger and the underlying technology of the Bitcoin cryptocurrency, allowing it to operate in a decentralized fashion with no intermediaries such as financial institutions. The use of blockchain, however, will be far beyond the financial sector; smart contracts, for example would allow business and legal agreements to be stored and executed online. It is anticipated that blockchain will do to middle- and back-office functions what the Internet and the Web have done to the front-office - automate functions. In this paper, we investigate what Chief Information Officers (CIOs) think of blockchain and how they plan to utilize it for their organizations. We conducted a survey that was completed by 25 CIOs in the United Arab Emirates and found mixed feelings about the technology and barriers for use. In this paper, we also discuss opportunities and challenges in adopting blockchain.
Blockchain is a game changer in nowadays information technology and financial industry. Since Nakamoto invented the concept of blockchain together with its first application called “Bitcoin”, the topic of blockchain has been inundated with the booming of cryptocurrencies. People expect this novel distributed ledger technology to bring a revolution to the entire industry and thereby grab the opportunity to expand and strengthen their business. The supply chain is treated as a typical use case to adopt blockchain and relevant technologies in many previous studies. In this paper, we conduct an interdisciplinary study on business supply chain management and the latest distributed ledger technology. In accordance with our discussion and experiments, we list three major benefits that the adoption of blockchain is able to bring to contemporary supply chain management. Meanwhile, we also identify a few of challenges that the nowadays blockchain application could not effectively excel, and the potential mitigation to those challenges as well.
Blockchain technology (BT) is expected to bring a revolutionary paradigm shift in the manner the transactions are carried in the supply chains. BT provides better visibility and transparency by removing the disadvantages of trust related issues in a supply chain. In this paper, we advance the literature on BT and its adoption in the supply chain by developing, and statistically validating a model for understanding the user perceptions on BT adoption. The model is based on the integration of three adoption theories- technology acceptance model (TAM), technology readiness index (TRI) and the theory of planned behaviour (TPB). Based on a survey of 181 supply chain practitioners in India the proposed model was tested using structural equation modelling. The study found that the TRI constructs- Insecurity and discomfort have an insignificant effect on the perceived ease of use and usefulness. Perceived usefulness, attitude, and perceived behavioural control affect the behavioural intention. Subjective norm has a negligible impact on behavioural intention. This is one of the preliminary studies on BT adoption in supply chain and the findings imply that the supply chain practitioners perceive BT adoption free of efforts and would help them to derive maximum benefits for improving the supply chain effectiveness.
Ricardo Carreño, Verónica Aguilar-Esteva, Daniel Pacheco, Antonio Acevedo · 6 authors
Knowledge society blockchain is one of the most powerful and recent tools to make the internet environment safer and reliable. Manufacturing has traditionally been dominated by standard designs that are mass-produced, due to the fact, that custom production causes additional costs that make it less affordable than mass production. This paper proposes to develop a designer expert system for IoT installation layout designs, using blockchain distributed system based on a machine learning, with users entering data to the expert system by a smart bot software. This expert system will work using extreme learning machine as inference engine; therefore, this is a shell to develop any expert system with fast learning. The whole system is represented by a smart contract with a value linked to the value of the expert system, the more this expert system be quoted on the web, the more the shares of the smart contract will cost.
Blockchain accounting is one of the most welcomed technologies of this new era. The blockchain is a public ledger where lacks of people are connected to that ledger. Blockchain also called as distributed ledger, could help accountant to gain clearly over the available financial resources and obligations of their organization and to utilize available resources, concentrate on planning and valuation, rather than the record keeping .Blocked chain which was originally developed in2009 to record crypto currency transactions. Blockchain technology has the potential to upend entire industries. Especially the financial sector may undergo disruptive change. Although this technology caught the attention of many of the largest financial institutions, use cases still remain in the experimental phase.
The Holy Quran is the fundamental Islamic scripture revealed to the Prophet Muhammad (Peace and Blessings of Allah be upon him) for the past 1400 years. In today’s Internet, there exist online sources which provide incomplete or false Quranic text which may either be published deliberately or unintentionally. The research investigates the possibility of developing a digital trust framework that secures the integrity of the Quranic text using blockchain technology. The research uses blockchain technology as the emerging secured distributed ledger to establish digital trust. The Ethereum blockchain platform was used to validate the proposed framework. The proposed digital trust framework was developed in a three-level architecture consisting of participants, digital trust and Quranic text. The key components of the proposed framework were found useful in Ethereum blockchain platform for effective use in distributed ledger, distributed consensus, smart contract, decentralized application development and cryptographic algorithms for database encryption and user authentication in Whisper, Swarm and Ethereum Virtual Machine (EVM). The findings show the effectiveness, efficiency and usability of the proposed digital trust framework on the Ethereum blockchain platform and demonstrate how user of Quran and blockchain miner interact with the system to verify and validate Quranic content. The research has recommended the use of blockchain technology to secure the integrity of the Quranic text. The work facilitates the protection of the Quranic text as well as proving a mean to verify the authenticity of the Quranic content.
Introduction. Blockchain technology is becoming one of the main drivers of innovation in the global economy. Its adoption will have a huge impact on how businesses and governments operate and on the way people organize their everyday lives. Financial services industry is the one experiencing the biggest impact of the blockchain disruption so far, while financial institutions are among the first adopters of the technology. At the same time, being a relatively traditional industry, shipping has not yet seen many use cases with blockchain, but the technology is able to change this industry dramatically. Aim and tasks. As the industries of finance and shipping have huge potential in the blockchain space and often interact, determining how the blockchain technology adoption can influence the industries of finance and shipping in the future was the main purpose of this article. Research results. To fulfill this purpose, it was important to describe the origins of the blockchain technology, its main characteristics, functioning principles and consensus algorithms. Supported by the recent hype, cryptocurrencies are the biggest use case for blockchain so far, therefore, the article analyzes the largest of them, including Bitcoin, Ethereum and some others, as well as the cryptocurrency market as a whole. The level of worldwide adoption of blockchain and the overall market size are defined further in the article. Various applications in finance are also mentioned, paying particular attention to the insurance industry. Based on this information, the key areas in which blockchain can disrupt finance and insurance are identified. As the number of blockchain companies increases rapidly, the two main fundraising channels for such companies, venture capital and initial coin offering, are analyzed and compared. The ways in which blockchain may impact the shipping services industry are identified further. Conclusion. Afterwards, the article describes a number of blockchain consortia formed by public institutions and private entities to research and test possible applications of the technology across various industries and countries. While the potential of blockchain is still largely undiscovered, all the gathered information and performed research help to make a conclusion that the blockchain technology will have a big impact on many different industries, including financial and shipping services. The coming years will definitely see an exponentially growing interest in blockchain in academic and business fields, as the technology becomes more and more mainstream.
Year 2017 is hailed as the year of the blockchain, a technology which has disrupted a wide array of sectors, particularly the financial and legal sectors. Blockchain is a technology derived from Bitcoin, the first cryptocurrency created by Satoshi Nakamoto in 2008. Since then, the Bitcoin concept has been innovated to create blockchain technology. Blockchain consists of de-centralized, tamper-proof digital ledgers of transactions, which are chronologically and securely recorded over complex networks. Proponents of this technology are looking into the adoption of blockchain in their operations, since it is safer and reduces operating costs. This paper provides an overview of the prospects of utilizing blockchain technology to solve issues existing in the construction industry, specifically in Malaysia. The scope of this study is confined to several aspects, which includes the fundamentals of blockchain technology, and the use of Building Information Modeling (BIM) for pre-construction and construction phases, within the purview of the project management field. Among the applications of this technology includes identity validation and notarization for construction personnel/industry players, project governance and smart contracts (BIM and Blockchain integration). As a result of this study, it was found that the application of blockchain technology in project management is still in its early adoption phase, with exciting developments in the near future. Despite being in its early stages of adoption, it can be seen that the blockchain technology adoption across the globe, particularly in the area of project management has a promising outlook. However, further research needs to be carried out to ascertain the feasibility of blockchain technology implementation in the local construction industry.
Jan 1, 2018·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Manuel Schlegel, Liudmila Zavolokina, Gerhard Schwabe
The blockchain, the ledger that underlies the famous cryptocurrency Bitcoin, has huge implications for many industries. There have been various papers dedicated to research how blockchain technology will transform businesses and industries. However, current research lacks an overview of what the blockchain implies for the biggest stakeholder of these businesses and industries: consumers. This paper aims to provide an overview of how the blockchain affects consumers. We conduct a systematic literature review and enrich it with interview-based knowledge from blockchain experts to show how blockchain technology changes business sectors, name affected consumers in these sectors, derive implications for these consumers and list existing as well as currently emerging blockchain-based products and services. Finally, we warn of the technical, institutional and human challenges and manifold pitfalls blockchain technology must overcome to gain widespread adaptation among consumers.
Md. Mehedi Hassan Onik, Mahdi H. Miraz, Chul‐Soo Kim
Application of Information Technology (IT) in the domain of Human Resource Management (HRM) systems is a sine qua non for any organization for successfully adopting and implementing Fourth Industrial Revolution (Industry 4.0). However, these systems are required to ensure non-biased, efficient, transparent and secure environment. Blockchain, a technology based on distributed digital ledgers, can help facilitate the process of successfully effectuating these specifications. A detailed literature review has been conducted to identify the current status of usage of Information Technology in the domain of Human Resource Management and how Blockchain can help achieve a smart, cost-effective, efficient, transparent and secure factory management system. A Blockchain based Recruitment Management System (BcRMS) as well as Blockchain based Human Resource Management System (BcHRMS) algorithm have been proposed. From the analysis of the results obtained through the case study, it is evident that the proposed system holds definite advantages compared to the existing recruitment systems. Future research directions have also been identified and advocated.
Healthcare complexity and costs can be decreased through the application of blockchain technology to medical records and insurance companies. Estonia has taken a leadership role in blockchain based services both in the commercial sector and in government. The Estonian government’s innovation strategy was to create GovTech partnerships to implement blockchain based technologies throughout the country, and become a global leader in the technology. Starting in 2011, just 3 years after Satoshi Nakamoto published the first description of distributed ledgers and blockchain technology, the Estonian Government started partnering with the private technology startup company Guardtime to use blockchains to secure public and internal records. Then in 2016, Estonia once again reinforced its global leadership in blockchain technology when it announced it would use blockchain technology to secure the health records of over a million citizens. Estonia’s systematic method of applying blockchain technologies through GovTech partnerships demnostrates how innovation is a process. Estonia also identified early the value of the blockchain as a disruptive platform innovation. The application of blockchain technology to healthcare is a radical innovation given that nearly all previous applications have been in the financial and legal sectors.
In response to greater demand for transparency, technology advancements and the disintermediation by startups are gradually making some of the information public. As a result, property-related information is increasingly available in digital and paper form. However, a significant portion of the digitized information is hosted on disparate systems, which results in a lack of transparency and efficiency, and a higher incidence of inaccuracies that creates a greater potential for fraud. Blockchain technology could enable the commercial real estate industry to address these inefficiencies and inaccuracies.<br/><br/>This research focusses on exploring the different possibilities for integrating blockchain technology in the real estate management process. By analyzing the current real estate management process and gaining knowledge about the implementation of blockchain technology, the objective of this research is exploring in which phases of the real estate management process the process can benefit from the use of blockchain technology.<br/><br/>The research findings contribute to the knowledge of opportunities for broad implementation of blockchain technology in the real estate management process by providing a scientific based research document. It provides a broad overview of different opportunities and constraints for using blockchain technology in the process. It increases awareness for the disruption this technology might bring. This research provides scientific arguments for possibilities of implementing blockchain technology in the real estate management process and will function as a trigger for continuation of research into this topic.<br/><br/>
Blockchain is an emergent technology concept that enables the decentralized and immutable storage of verified data. Over the last few years, it has increasingly attracted the attention of different industries. Especially in Fintech, Blockchain is hyped as the silver bullet that might overthrow today’s payment handling. Slowly, the logistics and supply chain management community realizes how profoundly Blockchain could affect their industry. To shed light on this emerging field, we conducted an online survey and asked logistics professionals for their opinion on use case exemplars, barriers, facilitators, and the general prospects of Blockchain in logistics and supply chain management. We found most of our participants are fairly positive about this new technology and the benefits it offers. However, factors like the hierarchical level, Blockchain experiences, and the industry sector have a significant impact on the participants’ evaluation. We reason that the benefits over existing IT solutions must be carved out more carefully and use cases must be further explored to get a rather conservative industry, like logistics, more excited about Blockchain.
Purwono Purwono, Alfian Ma’arif, Wahyu Rahmaniar, Qazi Mazhar ul Haq · 6 authors
Blockchain technology has a promising future in a number of industries and enterprises. Formerly connected to virtual currency like Bitcoin, blockchain has evolved into a versatile technology with many applications. In the upcoming years, it is predicted that blockchain will revolutionize a variety of industries, including banking, supply chain management, healthcare, voting systems, and more. The future of blockchain technology depends critically on its ability to increase security and transparency. By providing a decentralized and unchangeable record, eliminating the need for middlemen, and boosting participant confidence, blockchain promotes secure and traceable transactions. This transparency has the potential to transform whole industries by reducing fraud, streamlining processes, and increasing output. Blockchain also has the power to change financial systems. Blockchain-based smart contracts facilitate faster, more efficient transactions by automating and enforcing contractual agreements without the need for middlemen. By enabling speedier cross-border transactions, reducing costs, and boosting financial inclusion, tokenization and blockchain-based digital currencies have the potential to overturn conventional banking institutions. Blockchain’s key attributes, including decentralization, transparency, immutability, and security, make it a desirable choice for a range of organizations. Cross-border payments, trade finance, and smart contracts are just a few of the financial sector processes that blockchain technology has the potential to enhance and automate, lowering costs and increasing productivity. Additionally, the tamper-resistance of blockchain technology can boost transaction security and reliability, allowing for a wider use in traditional financial institutions. Outside of the financial industry, blockchain technology has a lot of promise, particularly in industries like supply chain management, healthcare, energy, intellectual property, and governance. By enabling transparent and traceable transactions, blockchain may improve supply chain efficiency, ensure product authenticity, and boost customer trust. By facilitating the secure exchange of patient data and research data, the decentralized nature of blockchain technology can enhance data security, interoperability, and privacy in the healthcare sector. A more decentralized and sustainable energy ecosystem may be supported by blockchain technology through peer-to-peer energy exchange, grid management, and monitoring of renewable energy certificates in the energy sector. Additionally, blockchain technology has the potential to transform decentralized governance structures, voting procedures, intellectual property rights, and digital identity management. By allowing people to own and manage their digital identities, blockchain can enhance privacy and reduce identity theft. Blockchain-based voting systems can offer transparency, security, and verifiability, thereby increasing voter turnout and public trust in democratic institutions. Blockchain can also enable the secure and transparent management of intellectual property rights, fostering author credit and just compensation.
Blockchain technology and Internet of Things are two of the most popular technologies today. IoT is an interconnection of devices that has the capability to sense, measure, process the state of environmental indicators as well as themselves and actuate based on the input provided. It can help create smart solutions that can enhance the quality of life of people. Likewise, blockchain is distributed database systems that promise high level of security and availability of data with least transaction overhead. In this thesis, we attempt to bring together these two technologies to develop a Smart Waste Management System (SWMS). The SWMS is weight-based i.e. users have to pay for use of services as per the amount of waste they produce. Payments are made using a custom cryptocurrency regulated by Smart Contracts and the entire SWMS can be funded by a DAO through a totally automate, highly secure process. Blockchain can help lower the penetration and service cost which can be specially beneficial to developing countries \nwhere governments are not very resourceful. This thesis attempts to establish a proof of concept through measurement of performance and assessment of applicability of such a system.
Dec 1, 2016·2016 IEEE 18th International Conference on High Performance Computing and Communications; IEEE 14th International Conference on Smart City; IEEE 2nd International Conference on Data Science and Systems (HPCC/SmartCity/DSS)
Taher M. Ghazal, Mohammad Kamrul Hasan, Haitham M. Alzoubi, Mohammed Al Hmmadi · 8 authors
Recent years have witnessed substantial advancement in the subject of smart cities. The purpose of smart city development is to enhance the quality of life for citizens. This was accomplished via the use of IoT and cloud computing technologies. Another promising technology is blockchain, which has the ability to deliver a myriad of value services to its end users. For virtual assets with value, such as Bitcoin, it is a programmable digital register that is immutable. To properly exploit blockchain technology's services inside smart cities, it is necessary to identify the technology's features, as well as its main needs and research obstacles. As such, this essay will try to define the properties of blockchain technology. Additionally, the critical needs for integrating blockchain technology into smart cities are outlined. A possible use case for blockchain technology is used to show how a smart city could be protected. There is also an overview of how a real-world three-blockchain-based smart city case study works. Finally, a number of critical research issues are highlighted and explored.