A Blockchain Approach to Social Responsibility

Abstract

As blockchain technology matures, more sophisticated solutions arise regarding complex problems. Blockchain continues to spread towards various niches such as government, IoT, energy, and environmental industries. One often overlooked opportunity for blockchain is the social responsibility sector. Presented in this paper is a permissioned blockchain model that enables enterprises to come together and cooperate to optimize their environmental and societal impacts. This is made possible through a private or permissioned blockchain. Permissioned blockchains are blockchain networks where all the participants are known and trust relationships among them can be fostered more smoothly. An example of what a permissioned blockchain would look like is described in this paper as well as its implementation, achieved using Hyperledger Fabric, which is a business-oriented blockchain framework. This study touches on the benefits available for companies that are willing to engage in socially responsible causes through blockchain. It states in what ways a permissioned blockchain can bring together businesses on common ground to increase their reach and provide better customer service. Finally, a use case is provided to bring to life a real-world situation where blockchain use improves service quality for all the parties involved, both the companies and their customers.

Foresight study about the use of blockchain to prevent employees’ psychological distress: research avenues and insights for HRM practitioners

“…These interventions and transactions on the blockchain are facilitated by the contract that these actors have with the organization. Bedin et al (2020) pointed out that this technology represents a means to tighten the relationships between organizations and their customers, by ensuring data integrity, transparency and security.…”

“…For example, blockchain is used as a means of maintaining intellectual property rights within the digital environment (Shatkovskaya et al , 2018). It has also witnessed a non-financial application in areas such as policymaking (Burmaoglu et al , 2020), social responsibility (Bedin et al , 2020) and education (Chen et al , 2018; Alammary et al , 2019). Indeed, blockchain has unlocked a myriad of fresh opportunities for businesses, enabling direct value transfer between participants over the internet (Aste et al , 2017).…”

Blockchain for Collaborative Businesses

“…The first scenario to be examined is the one described in Bedin et al's study [4] where, in an effort to drastically reduce energy disconnections and improve customer satisfaction, a local utility company aims to integrate and work in close partnership with assistance programs able to aid customers having difficulty in paying their electricity bills.…”