Blockchain Technology for Secure and Intelligent Industry Applications

Abstract

This chapter explores the significance of blockchain technology in protecting data for intelligent applications across various industries. Blockchain is a distributed ledger that ensures the immutability and security of transactions. Given the increasing need for security measures in industries, understanding blockchain technology is crucial for preparing for its future applications.

This chapter aims to examine the use of blockchain technology across industries and presents a compilation of existing and upcoming blockchain technologies for intelligent applications. The methodology involves reviewing research to understand the security needs of different industries and providing an overview of methods used to enhance multi-institutional and multidisciplinary research in areas like the financial system, smart grid, and transportation system.

The findings highlight the benefits of blockchain networks in providing transparency, trust, and security for industries. The Responsible Sourcing Blockchain Network (RSBN) is an example that utilizes blockchain's decentralized ledger to track sustainable sourcing from mine to final product. This information can be shared with auditors, corporate governance organizations, and customers.

The practical implications of this chapter are significant, serving as a valuable resource for industries concerned with identity privacy, traceability, immutability, transparency, auditability, and security. Understanding and implementing blockchain technology can address the growing need for secure and intelligent applications, ensuring data protection and enhancing trust in various sectors.

Citation

Ahmad, V., Goyal, L., Singh, T. and Kumar, J. (2023), "Blockchain Technology for Secure and Intelligent Industry Applications", Islam, Q.T., Goel, R. and Singh, T. (Ed.) Fostering Sustainable Businesses in Emerging Economies, Emerald Publishing Limited, Leeds, pp. 147-165. https://doi.org/10.1108/978-1-80455-640-520231010