International Journal of Blockchains and Cryptocurrencies (7 papers in press)

Regular Issues

• A primer to central bank digital currency (CBDC): a payments ecosystem disruptor  
  by Nithiyananthan Suppiah, Humayun Zafar 
  Abstract: The digital payments landscape has evolved rapidly with the wide adoption of fintech. The challenges linked to the current payment environment have generated a necessity for a more productive, safe, and economical payment structure. Conventional price structures consist of intermediaries like issuers, networks, and payment processors, ensuing extended transaction costs for merchants and shoppers. Moreover, the ongoing system is at risk of security threats and payment card fraud, which produces tremendous economic losses for merchants and monetary establishments. Although there is a growing demand for a charging device that is faster, cheaper, and greater steady, the capacity of central bank digital currencies (CBDC) to supply those goals still needs to be determined. Before realising the concept, hurdles, including scalability, interoperability, and jurisdictional inconsistencies, must be addressed. Recognising the results of the proposed new payment method requires further research.
  Keywords: digital payments; virtual currency; FinTech; conventional price structures; payment card fraud; central bank digital currencies; CBDCs; scalability; interoperability; jurisdictional inconsistencies.
  DOI: 10.1504/IJBC.2023.10060499
   
  
• Analysis of blockchain in India: a pathway for entrepreneurs in the MSMEs sector.  
  by Srinivasu Bathula, Safeera Siddiqui 
  Abstract: Micro, small, and medium-sized enterprises have played a pivotal role in the Indian economy. Despite its importance, this sector faces numerous challenges, including limited access to bank credit, procedural bottlenecks, marketing awareness, and lack of industrial knowledge. The majority of small and micro businesses closed during COVID-19. Industries have always suffered from unexpected volatility because of their financial fragility. An important question arises: what untapped potential do MSMEs possess that cannot attained due to the absence of blockchain technology? what are the challenges entrepreneurs face while implementing blockchain technology? This paper aims to investigate the prospects of blockchain technology in the MSME sector. The SWOC model is implemented to evaluate the various prospects of blockchain technology in terms of its strengths, weaknesses, opportunities, and challenges. This paper concludes that a significant opportunity for blockchain technology prevails due to its strength. Hence, the government should promote this technology through proper digital infrastructure and digital knowledge.
  Keywords: networking; entrepreneurship; blockchain technology; micro; small and medium enterprises; MSME; blockchain network; distributed ledger technique; SWOC analysis; smart contracts.
  DOI: 10.1504/IJBC.2023.10061592
   
  
• Intelligent blockchain technologies for disaster management: challenges, research gap and solutions  
  by Iram Abrar, Javaid Ahmad Sheikh 
  Abstract: Owing to global warming, our planet has been gravely affected by catastrophic natural disasters. Every year, countries spend billions of dollars around the world to mitigate the adverse effects of these disasters, yet traditional disaster management techniques fall short of efficiently forecasting and responding to them. Hence, a more responsive and transparent system is needed, prompting the exploration of blockchain technology as a potential solution to address this problem. By analysing the existing challenges in disaster management, the current work proposes using blockchain technology to enhance responsiveness and resource allocation during disasters. Accordingly, a disaster management framework solution has been discussed, providing insights into rapid response strategies. The methodology aims to leverage blockchain’s capabilities to streamline communication, minimise harm, and improve the overall management process. The presented work demonstrates the potential of blockchain in addressing challenges faced by stakeholders during disasters, thereby, offering better services to the user. Moreover, challenges and research gaps were also analysed, providing a comprehensive overview for future developments.
  Keywords: blockchain; disaster management; smart contracts; consensus mechanism; decentralisation; distributed ledger.
  DOI: 10.1504/IJBC.2023.10063056
   
  
• Securing land records using a blockchain technology  
  by Afshan Rehman, Ambuja Munikadirappa, Vivek R. Venkatesh 
  Abstract: One of the main reasons for land conflicts is due to the actions of the land mafia. In the current day scenario, the land ownership system is under the grip of fraudsters and people often fear being deceived with fake land certificates. In this paper, we consider each buying and selling of land records as a single transaction, wherein each transaction has a unique hash value, which is highly secure in nature. Data being stored on the block are the transactions between buyers and sellers monitored by a closed group of people. Each of this transaction between the buyer and the seller is then validated using the consensus algorithm (proof of elapsed time) and updated as a new block after being marked valid by 'validators' on the Hyperledger Sawtooth framework. This block is then visible to all the members in that network, which incorporates trust and transparency in the transaction system.
  Keywords: blockchain; consensus algorithms; digitalisation; land records; Hyperledger; Hyperledger Sawtooth.
  DOI: 10.1504/IJBC.2023.10063083
   
  
• Blockchain in IoT: security, applications, technologies, and challenges  
  by Mahd Alzoubi 
  Abstract: This paper explores the potential of blockchain technology to enhance the security and trust of the Internet of Things (IoT) ecosystem. It identifies key challenges faced by IoT applications, such as data privacy, security, and interoperability. The paper then analyzes how blockchain's characteristics, including decentralization, immutability, and transparency, offer solutions to these challenges. It highlights how blockchain can secure data transactions, automate device authentication, and ensure data integrity, addressing critical IoT vulnerabilities. However, the paper acknowledges the complexities of integrating blockchain and IoT, including scalability limitations, energy consumption concerns, and the need for interoperability across diverse platforms. Additionally, regulatory considerations surrounding blockchain's decentralized nature are discussed. The paper concludes by emphasizing the contribution of this research in providing a comprehensive analysis of blockchain's potential to secure, streamline, and manage IoT applications, paving the way for their secure and efficient integration.
  Keywords: blockchain; IoT; security; smart contracts; consensus algorithms privacy; trust.
  DOI: 10.1504/IJBC.2024.10063367
   
  
• Over-the-shoulder coercion-resistant stake voting system with self-tallying  
  by G. Pavithra, Kunwar Singh 
  Abstract: Stake voting is a voting system where the vote cast by a voter is proportional to their account balance/asset value. We present the first implementation of a stake voting system with these features: full-decentralisation, self-tallying, coercion-resistance, over-the-shoulder coercion-resistance, universal verifiability, receipt-freeness, perfect privacy. We incline our explanation more towards: self-tallying and over-the-shoulder coercion-resistance. We believe that we have been able to fill two important gaps in current literature as: 1) most of literature uses the brute-force approach to self-tally which is very time-consuming and cumbersome when used for a stake voting system; 2) major part of literature discusses only about coercion-resistance and not much about over-the-shoulder coercion-resistance. Also, we have considered a stronger attacker (physically close to the voter for the entire voting process) for our explanation compared to other existing voting systems. Our application has immense value to the society, for instance, shareholder voting (synonymous to stake voting) is very common in all types of companies.
  Keywords: stake voting; e-voting; self-tallying; over-the-shoulder; coercion resistance; universal verifiability; zero-knowledge proof; homomorphism; i-voting; blockchain; privacy.
  DOI: 10.1504/IJBC.2023.10063395
   
  
• Exploring the potential impact of blockchain technologies in Health Canada’s cannabis supply chain  
  by Stephen Johnson 
  Abstract: This case study explores Health Canada's ability to detect and prevent illegal cannabis infiltration into its supply chain and investigates how blockchain might help address identified weaknesses. The Canadian Government's regulatory framework reveals a need for stricter oversight of the cannabis supply chain to enhance security. Current monitoring has a critical weakness, making it susceptible to black market infiltration. This deficiency has led to negative customer perceptions of cannabis production and distribution. Maintaining the status quo risks customers switching to cheaper, higher-quality black-market cannabis. Introducing blockchain technology could shift Health Canada's regulatory approach from human-dependent to a shared responsibility model involving all cannabis ecosystem stakeholders. Blockchain could effectively track cannabis production and distribution, enhance state monitoring of quality standards, detect contaminants, and reduce consumer risks. The study highlights blockchain's potential benefits but also acknowledges potential high costs.
  Keywords: blockchain; cannabis; government regulations; supply chains; cyber security; cannabis reform; digital transformation.
  DOI: 10.1504/IJBC.2024.10063680