A Study of Use Cases for Smart Contracts Using Blockchain Technology

Sekhar, S. R. Mani; Siddesh, G M; Kalra, Swapnil; Anand, Shaswat

doi:10.4018/ijissc.2019040102

Cited by 14 publications

(7 citation statements)

References 12 publications

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“…Hence data transfer needs to be safe. Blockchain is a growing collection of records [44,45] or "blocks" that are connected via encryption. Blockchain security is a comprehensive risk management solution for a blockchain network that uses assurance services, best practices, and cybersecurity frameworks to reduce risks against fraud and assaults [46].…”

Section: Data Security: Mediating Rolementioning

confidence: 99%

Blockchain Payment Services in the Hospitality Sector: The Mediating Role of Data Security on Utilisation Efficiency of the Customer

Dhiraj,

Kumar,

Rani

et al. 2023

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Blockchain technology has the potential to completely transform the hospitality sector by offering a safe, open, and effective method of payment. Increased customer utilisation efficiency may result from this. This study looks into how blockchain payment methods affect hotel customers’ intentions to stay loyal by devising four hypotheses. A questionnaire was specifically created and self-administered for this study as a data-gathering tool and distributed to hotel customers. The I.B.M. SPSS and Amos software packages were used to analyse the data of the 301 valid responses. Findings show that hospitality customers may use blockchain payment services if the customer is satisfied with the data security of this payment system. The study also highlighted that customer data security mediated the association between utilisation efficiency and blockchain payment systems. Blockchain payment services can affect visitors’ intentions to stay loyal by impacting data security and consumer happiness. Results suggest that blockchain payment systems can be useful for hospitality firms looking to increase client utilisation efficiency. Blockchain can simplify visitor booking and payment processes by providing a safe, open, and effective transacting method. This may result in a satisfying encounter that visitors are more inclined to recall and repeat.

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Section: Data Security: Mediating Rolementioning

confidence: 99%

Blockchain Payment Services in the Hospitality Sector: The Mediating Role of Data Security on Utilisation Efficiency of the Customer

Dhiraj,

Kumar,

Rani

et al. 2023

Data

View full text Add to dashboard Cite

show abstract

“…In addition to being against the rules of legal ethics, breaking the law is illegal in the majority of states. In the legal field, one engages in a variety of activities, such as the creation of legal documents, the rendering of legal opinions, and the provision of legal services or guidance (Ramachandran & Kantarcioglu, 2017, Sekhar et al, 2019. While lawyers are permitted by law to use the services of others to aid them in their practice, they are nonetheless held to the highest standards of professional responsibility for all work product.…”

Section: 5mentioning

confidence: 99%

Towards Standardized Regulations for Block Chain Smart Contracts: Insights From Delphi and Swara Analysis

2023

AJM

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The rise of digital currency and the public ledger Block Chain has led to the development of a new type of electronic contract known as "smart contracts." For these contracts to be considered valid, they must adhere to traditional contract rules and be concluded without any impediments. Once written, encrypted, and signed, smart contracts are recorded in the Block Chain Ledger, providing transparent and secure record-keeping. Smart contracts offer several benefits, including their ability to execute automatically without requiring human intervention, their provision of public visibility of contract provisions on the Block Chain, their avoidance of financial crimes like Money Laundering, and their prevention of contract abuses. However, disputes arising from smart contracts still require human intervention, presenting unique challenges in enforcing these contracts, such as evidentiary issues, enforceability of waivers of defenses, and jurisdictional and choice-of-law considerations. Due to the novel nature of smart contracts, there are currently no standardized regulations that apply to them. Countries that have approved them have turned to customary law to legitimize their use. The Delphi method was used to identify critical success factors for applying blockchain transactions in a manufacturing company. Stepwise Weight Assessment Ratio Analysis (SWARA) was then utilized to determine the most influential factors. The proposed methodology was implemented, and results show that the most influential factors for the successful application of blockchain transactions as smart contracts in a manufacturing company are: turnover, the counter argument, vision, components for building, and system outcome quality. Conversely, connections with government entities and subcontractors, and the guarantee of quality have the least influence on successful implementation. These findings can contribute to the development of a legal framework for smart contracts in a manufacturing company.

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“…Taking the throughput limit of blockchain system as an example, for smart contracts are executed serially in sequence in the current blockchain system, the number of contracts that can be executed per second is very limited. Moreover, smart contracts are also not compatible with the popular multi-core and cluster architecture, thus difficult to meet the needs of multi-domain applications [ 224 ]. The security problem in the execution-layer is the main problem that restricts the development of smart contract.…”

Section: Future Research Directionmentioning

confidence: 99%

A survey of application research based on blockchain smart contract

et al. 2022

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Nowadays, blockchain technology and industry has developed rapidly all over the world, which is inseparable from continuous innovation and improvement on smart contract technology. Therefore, by summarizing the working principle and application research status of blockchain smart contract, this paper analyzes the development and challenges of smart contract. Firstly, we introduce the model and operation principle of blockchain smart contract for the overall architecture, analyze the deployment process of smart contract with Ethereum, Hyperledger Fabric and EOSIO, and make a comparative analysis from the technical level. And taking Byteball, InterValue and IOTA platforms as examples, we introduce the deployment process and application potential for DAG-based blockchain smart contract. Additionally, we also summarize the application research of smart contract for international and Blockchain Oracle, and discuss its innovative application and development trend in the future. Secondly, we introduce the application status of smart contract with Ethereum and Hyperledger Fabric platforms from the aspects of financial transactions, Internet of things, medical applications, and supply chain, and further discuss EOS (enterprise operation system), Blockchain Oracle and other application fields. Furthermore, we introduce the application advantages and challenges to smart contract for industrial Internet from the fields of manufacturing, food industry, industrial Internet of things and industry 4.0. Finally, we discuss the challenges faced by smart contract with technical issues, analyzes the impact on large-scale applications and mining system on the sustainable development of smart contract, and looks forward to the future research direction of blockchain smart contract.

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A Study of Use Cases for Smart Contracts Using Blockchain Technology

Abstract: Blockchaintechnologyisanemergingandrapidlygrowingtechnologyinthecurrentworldscenario.Itisacollectionofrecordsconnectedthroughcryptography.Theyplayavitalroleinsmartcontracts.

Cited by 14 publications

References 12 publications

Blockchain Payment Services in the Hospitality Sector: The Mediating Role of Data Security on Utilisation Efficiency of the Customer

Blockchain Payment Services in the Hospitality Sector: The Mediating Role of Data Security on Utilisation Efficiency of the Customer

Towards Standardized Regulations for Block Chain Smart Contracts: Insights From Delphi and Swara Analysis

A survey of application research based on blockchain smart contract

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