A Hybrid Blockchain-based Zero Reconciliation Approach for an Effective Mobile Wallet

Khan, Tanvir Ahmed; Hasan, A S M Touhidul; Jiang, Qingshan; Qu, Qiang

doi:10.1109/sti50764.2020.9350393

Cited by 2 publications

(2 citation statements)

References 2 publications

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“…Public blockchains are open source and permit anybody to join as a client or network individual. Private blockchains, or permissioned blockchains, are chains for which membership approval is required to join the network [3]. A consortium blockchain is a hybrid blockchain in which two or more organizations govern the identical blockchain.…”

Section: Smart Contractmentioning

confidence: 99%

“…These E-Payment forms need extensive personal information to complete payment transactions, which require an effective communications network infrastructure [2]. Mobile wallets have a broader appeal as they provide instantaneous access and have more significant potential for growth in consumers and suppliers [3]. However, mobile payment still has limitations that prevent it from being superior to a traditional cash payment in rural areas and third-world countries, most notably due to the lack of communication infrastructure.…”

Section: Introductionmentioning

confidence: 99%

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Blockchain Mobile Wallet with Secure Offline Transactions

Rasheed¹,

Al-Shqeerat²,

Ghorab³

et al. 2023

Computers, Materials &Amp; Continua

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There has been an increase in the adoption of mobile payment systems worldwide in the past few years. However, poor Internet connection in rural regions continues to be an obstacle to the widespread use of such technologies. On top of that, there are significant problems with the currently available offline wallets; for instance, the payee cannot verify the number of coins received without access to the Internet. Additionally, it has been demonstrated that some existing systems are susceptible to false token generation, and some do not even permit the user to divide the offline token into smaller portions to be used as change. This paper proposes a blockchainbased wallet system that provides a secure mobile payment service even if a user cannot access a reliable Internet connection. Our approach relies on Bluetooth and digital signatures to establish and build a trust connection between the parties. The proposed solution overcomes the main limitations of existing systems that use offline transactions, such as the generation of fake offline tokens and the indivisibility of offline tokens. The user buys Offline Tokens (OTs) from a server called an Offline Token Manager (OTM) to use them later to perform offline transactions. Each mobile device must store a single, signed offline token transaction to prevent fake tokens. On the other hand, all offline transactions will be kept as a history in a particular local database. Finally, when the receiver becomes online, it will send a convert request to the OTM to change the value of the OTs to the appropriate amount in real coins. This step requires a connection to the Internet. To evaluate the effectiveness of the system, the Solidity programming language was used to develop a smart contract on the Ethereum blockchain with a backend application programming interface (API) and an android mobile application. The proposed method has an advantage over other prominent wallets.

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Section: Smart Contractmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Blockchain Mobile Wallet with Secure Offline Transactions

Rasheed¹,

Al-Shqeerat²,

Ghorab³

et al. 2023

Computers, Materials &Amp; Continua

View full text Add to dashboard Cite

show abstract

A Systematic Literature Review of Blockchain Technology Adoption in Bangladesh

Hussain¹,

Emon²,

Tanna³

et al. 2022

AETiC

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The spirit of “blockchain technology” is a distributed database in which saved data is transparent, accountable, public, immutable, and traceable. This base-level disruptive technology can boost the security and privacy-related efficiency of various domains. As Bangladesh is currently aiming for sustainable development, blockchain technology adoption by the local researchers is growing robustly. However, in Bangladesh, the blockchain Technology Acceptance Model (TAM) is not yet well structured which is also limiting the perspective of local developers and researchers. Therefore, sectors like governance, healthcare, security, privacy, farming, information authentication, cryptocurrencies, internet architecture, data, and so on are unable to utilize the full potential of this technology. In this research, the authors conduct an in-depth review of such types of blockchain technology-related research articles that have been published recently and are also solely focused on Bangladesh. From 5 publishers (IEEE Xplore, ACM, ScienceDirect, Taylor & Francis, and SpringerLink) this study analyses 70 articles published during the year 2016-2020. The study results find the top 13 sectors where Bangladeshi researchers are currently focusing on. Those studies identify that the rigid policy by the government, scarcity of expert researchers, and lack of resources are the main reasons why Bangladesh is still struggling to accommodate blockchain extensively. In addition, published papers are mostly based on theoretical concepts without an appropriate implementation. Finally, this study will be a great resource to the developers, entrepreneurs, and technology enthusiasts to determine the strategic plan for adopting blockchain technology in Bangladesh or even to any other developing country.

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A Hybrid Blockchain-based Zero Reconciliation Approach for an Effective Mobile Wallet

Cited by 2 publications

References 2 publications

Blockchain Mobile Wallet with Secure Offline Transactions

Blockchain Mobile Wallet with Secure Offline Transactions

A Systematic Literature Review of Blockchain Technology Adoption in Bangladesh

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