Authors:
Muhammad Jawad Hamid Mughal,M.Nawaz Brohi,DOI NO:
https://doi.org/10.26782/jmcms.2019.08.00033Keywords:
Bit coin,Distributed Ledger,Logistics,Signatures,Hash,Abstract
Digital currency a well-known term in past few years that grabbed the attention all over specially in financial sectors. Bit coin is a modern name use for digital currency in today’s world. Many names can be found in the market but Bit coin was first to show trust in digital currency and adopting it as a legal currency. Transactions made using block chain are well secure and transparent to user for monitoring. All signatures are stored in a distributed ledger that keeps the record for transactions happened. Decentralized network is use in block chain technology that connects all the nodes in a network. In this paper, the concept of block chain technology has been incorporated to improve the logistics process using secure digital currency and automate the payment process using bit coins and eliminating third parties interactions. Proposed workflow and conceptual model will help the supply chain management for secure and monitored delivery of goods to end customers. Model will provide advantages for logistics department that includes tracking, transactions updates, transparency, less documentation, on time delivery etc. SHA 256 is used in hashing for data encryption. Customer can also monitor their ordered material status. Proposed conceptual model can be used for all kind of shipment methods i.e. by air, by road, by sea. Paper includes comparison table that will highlight importance of block chain technology.Refference:
I Aafaf Ouaddah, Anas Abou Elkalam, and Abdellah Ait Ouahman, “FairAccess:
a new Blockchain-based access control framework for the Internet of Things,”
Security and Communication Networks, pp. 5943-5964, February 2017.
II Bushra Mukri, “Blockchain Technology in Supply Chain Management: A
Review,” International Research Journal of Engineering and Technology
(IRJET), vol. 5, no. 6, pp. 2497-2500, June 2018.
III David Schwartz, Noah Youngs, and Arthur Britto, “The Ripple Protocol
Consensus Algorithm,” Ripple Labs Inc, p. 8, 2014.
IV G.D. Knott, “Hashing Functions,” The Computer Journal, vol. 18, no. 3, pp. 265
– 278, March 1975.
V Jae Kwon, “Tendermint: Consensus without Mining,” GitHub, vol. 10, 2014.
VI Krystsina Sadouskaya, “Adoption of Blockchain Technology in Supply Chain
and Logistics,” XAMK, Bachelor’s Thesis 2017.
VII Laura Jutila, “The blockchain technology and its applications in the financial
sector,” Aalto University, Bachelor Thesis 2017.
VIII Ramakrishna M.V, E. Fu, and E. Bahcekapili, “A Performance Study of Hashing
Functions for Hardware Applications,” In Proc. of Int. Conf. on Computing and
Information, pp. 1622-1636, 1994.
IX Rhonda R. Lummus and Robert J. Vokurka, “Defining supply chain
management: a historical perspective and practical guidelines,” Industrial
Management & Data Systems, vol. 99, no. 1, pp. 11-17, 1999.
X Saifedean Ammous, “Blockchain Technology: What is it good for?” Social
Science Research Network, August 2016.
XI Sarah Meiklejohn et al., “A Fistful of Bitcoins: Characterizing Payments Among
Men with No Names,” Proceedings of the 2013 conference on Internet
measurement conference, pp. 127-140, October 2013.
XII Zibin Zheng, Shaoan Xie, Hongning Dai, Xiangping Chen, and Huaimin Wang,
“An Overview of Blockchain Technology: Architecture, Consensus, and Future
Trends,” 2017 IEEE International Congress on Big Data, pp. 557-564, June
2017.