A Study on the Design of Efficient Private Blockchain

Kwak, Ki Ho; Kong, Jun Taek; Cho, Sung In; Phuong, Huy Tung; Gim, Gwang Yong

doi:10.1007/978-3-319-96806-3_8

Cited by 13 publications

(3 citation statements)

References 2 publications

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“…This indicates that the node with authority can be chosen ahead of time, usually has business-to-business connections, and the data in Blockchain can be open or private, making it partially decentralized. At its inception, blockchain was conceived as a public ledger that allowed everyone access to the ledger network's history and the ability to check the history of transactions (Kwak, et al, 2019). It is more dependable and preserves a modest level of privacy when compared to the private blockchain (Venkateswara, et al, 2018).…”

Section: Public Blockchain Private Blockchain Consortium Blockchainmentioning

confidence: 99%

“…It is more dependable and preserves a modest level of privacy when compared to the private blockchain (Venkateswara, et al, 2018). Private Blockchain technology can be used to transcend these constraints and set up a distributed network only for authorized members (Kwak, et al, 2019). Through a simple application program N. Nitharsan and Mathusha Francis interface (API), any private blockchain may be connected to a block bench and benchmarked against workloads based on real and synthetic smart contracts (Dinh, et al, 2017).…”

Section: Public Blockchain Private Blockchain Consortium Blockchainmentioning

confidence: 99%

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Adaptability of blockchain-based E-Procurement system in Sri Lankan construction projects

Nitharsan¹,

Francis²

2022

Proceedings of 10th World Construction Symposium 2022

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E-procurement and Blockchain are relatively new technologies that have the potential to provide a variety of benefits due to their unique features such as transparency, decentralized approach, immutability, and consensus. The Sri Lankan construction industry is corrupted and that drives up construction costs, which are then passed on to the general public. Procurement plays a major role in construction projects as it is the basis of any transaction. E-Procurement is one of the recent technologies used by modern businesses to save time, money, and effort. Therefore, the current research aims to investigate the adaptability of e-procurement using Blockchain technology in the Sri Lankan construction industry. A mixed research approach was adopted including a questionnaire survey and semi-structured interview. A total of 55 questionnaires were distributed among experienced professionals, and 37 responses were received. The data collected from the questionnaire survey were analysed using Relative Important Index (RII) and Gap analysis. For the interview, total of 5 professionals who have experience in procurement and tender management were drawn through the snowball sampling technique to identify the strategies for the adoption of Blockchain based E-procurement. The survey found that there is a gap between the desirability and readiness for Blockchain adoption. In addition, the eight important drivers and barriers to the adoption have been identified. As a result, from an organizational and governmental perspective, measures must be designed and implemented to overcome barriers and enhance readiness levels, so closing the gap between desirability and readiness. Finally, based on the findings, strategies for improving the readiness of Blockchain-based EProcurement practices in the Sri Lankan construction industry were identified.

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Section: Public Blockchain Private Blockchain Consortium Blockchainmentioning

confidence: 99%

Section: Public Blockchain Private Blockchain Consortium Blockchainmentioning

confidence: 99%

Adaptability of blockchain-based E-Procurement system in Sri Lankan construction projects

Nitharsan¹,

Francis²

2022

Proceedings of 10th World Construction Symposium 2022

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“…Various projects are carried out in overseas markets, mainly in the US, Europe, and Asia [21]- [23]. Most businesses collaborate with finance and pinch companies related to blockchains to provide a new financial business model [24].…”

Section: Introductionmentioning

confidence: 99%

A Fintech Platform Using Blockchain Smart Contract

Nam,

Choi

2023

Int. J. Adv. Sci. Eng. Inf. Technol.

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Though few blockchain-based payment services are currently available, this is expected to change in 2018, as investment has poured in from banks to explore blockchainâ€™s potential. This creates the potential for developing live blockchain payment processing solutions and trade finance deployments. However, current blockchain technology is unsuitable for real-world applications owing to various limitations. Bitcoin is simply a â€œvirtualâ€ currency or â€œcyberâ€ money because blockchain does not support owner identification. This study combines credit card payments and a blockchain network to overcome this limitation. If there is no connection between the credit card payment system and the blockchain network, blockchain ciphers like Bitcoin will remain a â€œvirtualâ€ currency or â€œcyberâ€ money forever. This paper presents a challenging study involving blockchain and financial technology (fintech). Furthermore, we must consider the integration approach in terms of performance. Even the performance of state-of-the-art blockchain platforms cannot meet fintech application standards in the real world. In order to resolve performance issues related to a blockchain network while processing credit card transactions, we exploit the overlay network concept to separate the credit card network from the relatively slow blockchain peer-to-peer (P2P) network. In this paper, we presented the details of the data preparation, assessment metrics, and evaluation of our method. We also described the experimental results for the fintech platform using blockchain smart contracts.

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