International Journal of Blockchains and Cryptocurrencies (4 papers in press)

Regular Issues

• 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
   
  
• 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
   
  
• NFTs and property tokenisation: advancements and applications in blockchain technology  
  by Krishi Chawda, Kush Mehta, Tanishka Borkar, Sarita Ambadekar 
  Abstract: This paper explores the transformative impact of blockchain technology and non-fungible tokens (NFTs) on real estate transactions. Property tokenisation on the blockchain streamlines ownership and transaction processes, offering enhanced security, transparency, and trust. Smart contracts automate these transactions, reducing the need for intermediaries. By converting real estate assets into digital tokens on a blockchain, it enables a seamless transfer of ownership and rights representation. This automated execution ensures efficiency and trust, while also significantly lowering transaction costs. The integration of NFTs, as unique digital representations, act as an additional layer of protection, significantly reducing the risk of fraudulent activities and making property transactions smoother and more reliable. Throughout the paper, we meticulously examine and showcase real-world examples of successful blockchain-based property tokenisation implementations. This investigation highlights the potential for innovation within the real estate industry, pointing toward a future where property transactions are characterised by heightened efficiency, transparency, and cost-effectiveness.
  Keywords: NFT; non-fungible token; blockchain; smart contracts; real estate; tokenisation.
  DOI: 10.1504/IJBC.2024.10065014
   
  
• Application of blockchain technology in trade finance  
  by G.V. S. Nalini , B. Sindhu  
  Abstract: Innovations are due to the problems faced. Traditional trade finance faces two important problems: firstly, trade finance in the context of international trade involves many participants including banks and financial institutions, secondly, numerous documents are to be prepared and shared with the parties concerned. Blockchain Technology with its promising basic features like accessibility, traceability, immutability and digitalization reduces the number of participants, processing time, minimises cost in trade financing. This paper is an attempt to find the problems involved in traditional trade finance and the adoption of Blockchain Technology to resolve these problems. The structure of this paper has three parts, first part deals with adoption of blockchain technology to resolve the problems in traditional trade finance and second part deals with an outline on the Blockchain trade consortium and the third part deals with challenges in adoption of Blockchain and vectors to improve the performance of blockchain technology.
  Keywords: trade finance; traditional trade finance; blockchain technology; blockchain based trade finance consortium; vectors of development.