Banking on Blockchain: Costs Savings Thanks to the Blockchain Technology

Cocco, Luisanna; Pinna, Andrea; Marchesi, Michele

doi:10.3390/fi9030025

Cited by 237 publications

(101 citation statements)

References 9 publications

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“…The adoption of blockchain frameworks has a great potential in banking, but poses challenges related to the technological aspects (Puthal et al, 2018), to the impact (Vranken, 2017), and to the current regulations (Cocco et al, 2017). Hence, the design of novel blockchain-based solutions, such as our DLI system, is a non-trivial task and requires a careful selection of the blockchain framework.…”

Section: Evaluation Criteria For Blockchain Selectionmentioning

confidence: 99%

Invoice Discounting: A Blockchain-Based Approach

Fabrizio¹,

Rossi²,

Martini³

et al. 2019

Front. Blockchain

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Invoice discounting is a market with a double-digit potential growth rate over the next years in Europe and worldwide. The main benefit of invoice discounting is the acceleration of cash flow from customers to suppliers: suppliers get advance payments from the bank rather than waiting for the customers to pay. Hence, thanks to the quick availability of capital, businesses can invest in expansion and growth. More specifically, one of the most relevant problems today is how to provide better and faster invoice discounting services while preventing double spending and maintaining risk low. The blockchain frameworks have the potential to provide the right solution and thus to revolutionize the invoice discounting process. The benefits for suppliers, customers and financial institutions are related to the increased transparency added to the whole discounting process and the following risk reduction for the banks due to the capability to enhance the entire process and to reduce the double spending. In our paper, we introduce a blockchain-based invoice discounting system, called Distributed Ledger Invoice, and we propose a novel assessment method for evaluating currently available blockchain solutions for the invoice discounting scenario. Moreover, we also discuss two main issues regarding the information accessibility and the interoperability. In particular, since blockchain is still an emerging technology interoperability is a key factor for blockchain's adoption in inter-banking processes, where different blockchain solutions might be used. In this work we propose a decoupling layer, based on the Attribute-Based Access Control language, to unify the access control to reserved information across heterogeneous blockchains.

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Section: Evaluation Criteria For Blockchain Selectionmentioning

confidence: 99%

Invoice Discounting: A Blockchain-Based Approach

Fabrizio¹,

Rossi²,

Martini³

et al. 2019

Front. Blockchain

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show abstract

“…Guo and Lang [9] in their paper describe how blockchain technology is the combination of several other existing computer technologies namely, distributed data storage, peer to peer systems, distributed consensus mechanism, and encryption algorithms. Cocco et al [6] in their paper talk about the sustainable development and potential of blockchain as a banking technology by taking the bitcoin system under consideration. Eyal [7] discusses the role and potential of the blockchain technologies to fulfill the requirements.…”

Section: Organization Of the Papermentioning

confidence: 99%

Blockchain based e-Cheque Clearing Framework

Singh¹,

Kumar²,

Vardhan³

2019

SCPE

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This research work proposes a novel and comprehensive electronic cheque transactions framework. The proposed e-cheque system is free from the various security attacks such as alteration of the e-cheque, double spending of e-cheque, counterfeits e-cheques. The e-cheque generated in the proposed system can be deposited electronically or physically via teller machines. This facility provides greater flexibility to the customers of the banking system. The proposed system also provides space for professional miners to participate in the e-cheque transaction system by performing mining's and earn incentives. As the customer's perspective of security, the proposed system uses digital signature and cryptographic hash in each transaction hence it is a completely secure system. The existing CTS based cheque clearance request requires at least one day to clear a cheque which could extend to two or three days but the proposed system requires only 1.65 seconds for clearing any e-cheque.

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“…There is a large base of Bitcoin users who believe the technology will disrupt the banking sector. Some ideas are presented in [9][10][11][12]. Big companies such as IBM and Microsoft have started to consider offering blockchain services.…”

Section: Introductionmentioning

confidence: 99%

A Review of Blockchain-Based Systems in Transportation

et al. 2019

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This paper presents a literature review about the application of blockchain-based systems in transportation. The main aim was to identify, through the implementation of a multi-step methodology: current research-trends, main gaps in the literature, and possible future challenges. First, a bibliometric analysis was carried out to obtain a broad overview of the topic of interest. Subsequently, the most influential contributions were analysed in depth, with reference to the following two areas: supply chain and logistics; road traffic management and smart cities. The most important result is that the blockchain technology is still in an early stage, but appears extremely promising, given its possible applications within multiple fields, such as food track and trace, regulatory compliance, smart vehicles' security, and supply-demand matching. Much effort is still necessary for reaching the maturation stage because several models have been theorized in recent years, but very few have been implemented within real contexts. Moreover, the link blockchain-sustainability was explored, showing that this technology could be the trigger for limiting food waste, reducing exhaust gas emissions, favouring correct urban development, and, in general, improving quality of life.

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Banking on Blockchain: Costs Savings Thanks to the Blockchain Technology

Cited by 237 publications

References 9 publications

Invoice Discounting: A Blockchain-Based Approach

Invoice Discounting: A Blockchain-Based Approach

Blockchain based e-Cheque Clearing Framework

A Review of Blockchain-Based Systems in Transportation

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