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Book part
Publication date: 4 December 2023

Vasim Ahmad, Lalit Goyal, Tilottama Singh and Jugander Kumar

This chapter explores the significance of blockchain technology in protecting data for intelligent applications across various industries. Blockchain is a distributed ledger that…

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.

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Fostering Sustainable Businesses in Emerging Economies
Type: Book
ISBN: 978-1-80455-640-5

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The Emerald Handbook of Blockchain for Business
Type: Book
ISBN: 978-1-83982-198-1

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Book part
Publication date: 19 April 2022

Mahtab Kouhizadeh, Qingyun Zhu, Lojain Alkhuzaim and Joseph Sarkis

Overconsumption of resources has become a global issue. To deal with resource depletion and mitigate these impending crises, the circular economy (CE) holds some promise. A wide…

Abstract

Overconsumption of resources has become a global issue. To deal with resource depletion and mitigate these impending crises, the circular economy (CE) holds some promise. A wide range of performance measurements for CE have emerged over the years. However, with increasing complexity of supply chains, appropriate and potentially new performance measurements are needed for effective CE management. Blockchain is an innovative technology that may advance CE development. This chapter provides an overview of the potential linkages between blockchain technology and CE from sustainability perspectives – the specific focus will be on the performance measurement of reverse logistics activities. One of the main findings indicates that both blockchain and CE performance measurements – especially reverse logistics processes – are still evolving in both theory and practical developments. Future directions with a critical analysis including research and theoretical applications will conclude this chapter.

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Circular Economy Supply Chains: From Chains to Systems
Type: Book
ISBN: 978-1-83982-545-3

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Book part
Publication date: 17 February 2023

Narayanage Jayantha Dewasiri, Karunarathnage Sajith Senaka Nuwansiri Karunarathne, Sangeeta Menon, Potupitiya Gamaathige Sanjeewani Amila Jayarathne and Mananage Shanika Hansini Rathnasiri

Digital transformation has made enormous changes in the banking domain, where FinTech is the salient driving force inside it. Especially in the banking industry, Artificial…

Abstract

Digital transformation has made enormous changes in the banking domain, where FinTech is the salient driving force inside it. Especially in the banking industry, Artificial Intelligence (AI) and Blockchain technology act as the most innovative technologies. Similarly, Chatbots in commercial banking and Robo-advisors in investment banking has shifted banks into the entire virtual environment. In this context, the main objectives of this chapter are: to determine the current application of AI and blockchain in the banking industry, to identify the challenges faced by banks in adapting AI and blockchain technology, and to provide new insights on future banking in the industry 5.0 in this digital era. This chapter discusses the application of two robotic platforms widely used in banking, chatbots, and Robo-advisors. Chatbots are more like frontline employees of banks who are commonly engaged in customer relationship management, sales, and marketing. In contrast, Robo-advisors are a relatively advanced AI tool involved in investment and portfolio management. Blockchain will accelerate digital transformation where a decentralized digital ledger system is used for banking transactions. However, this is entirely the opposite of conventional centralized digital banking, and the adoption of these technologies is still in its infancy. Employment, performance, security, privacy and trust, cost, ethical and regulatory challenges are the most common challenges. To avoid the challenges, banks should concern with strategies like collaboration with robots, increasing the platforms’ performance, etc. Finally, the chapter provides insights on banking at industry 5.0. In the future, banking customers can experience completely virtual and customer-oriented banking services. In this regard, the fusion of all technologies and collaborative human effort is essential.

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

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Book part
Publication date: 15 May 2023

Satinder Singh, Sarabjeet Singh and Tanveer Kajla

Purpose: The study aims to explore the wider acceptance of blockchain technology and growing faith in this technology among all business domains to mitigate the chances of fraud…

Abstract

Purpose: The study aims to explore the wider acceptance of blockchain technology and growing faith in this technology among all business domains to mitigate the chances of fraud in various sectors.

Design/Methodology/Approach: The authors focus on studies conducted during 2015–2022 using keywords such as blockchain, fraud detection and financial domain for Systematic Literature Review (SLR). The SLR approach entails two databases, namely, Scopus and IEEE Xplore, to seek relevant articles covering the effectiveness of blockchain technology in controlling financial fraud.

Findings: The findings of the research explored different types of business domains using blockchains in detecting fraud. They examined their effectiveness in other sectors such as insurance, banks, online transactions, real estate, credit card usage, etc.

Practical Implications: The results of this research highlight (1) the real-life applications of blockchain technology to secure the gateway for online transactions; (2) people from diverse backgrounds with different business objectives can strongly rely on blockchains to prevent fraud.

Originality/Value: The SLR conducted in this study assists in the identification of future avenues with practical implications, making researchers aware of the work so far carried out for checking the effectiveness of blockchain; however, it does not ignore the possibility of zero to less effectiveness in some businesses which is yet to be explored.

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Contemporary Studies of Risks in Emerging Technology, Part B
Type: Book
ISBN: 978-1-80455-567-5

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Book part
Publication date: 25 October 2023

Sumesh Singh Dadwal

As the size of the population is growing and the capacity of the planet Earth is limited, human beings are searching for sustainable and technology-enabled solutions to support…

Abstract

As the size of the population is growing and the capacity of the planet Earth is limited, human beings are searching for sustainable and technology-enabled solutions to support society, ecology and economy. One of the solutions has been developing smart sustainable cities. Smart sustainable cities are cities as systems, where their infrastructure, different subsystems and different functional domains are virtually connected to the information and communication technologies (ICT) and internet via sensors and devices and the Internet of Things (IoT), to collect and process real-time Big Data and make efficient, effective and sustainable solutions for a democratic and liveable city for its various stakeholders. This chapter explores the concepts and practices of sustainable smart cities across the globe and explores the use of technologies such as IoT, Blockchain technology and Cloud computing, etc. their challenges and then presents a view on business models for sustainable smart cities.

Book part
Publication date: 19 July 2023

Samrat Ray, Elena Viktorovna Korchagina, Rohini U. Nikam and Roop Kishore Singhal

This chapter proposes a new architecture to address challenges to security and the privacy in e-healthcare under Industry 5.0. With the growing needs for high-quality medical…

Abstract

This chapter proposes a new architecture to address challenges to security and the privacy in e-healthcare under Industry 5.0. With the growing needs for high-quality medical treatment and the continuously growing costs of treating global medical problems, systems and web-based medical care are regarded as innovative solutions. In particular, the new progress in Internet of Things (IoT) has led to the development of Internet of Medical Things (IoMT). The patient history data is handled and processed remotely in real-time rather than visiting any clinic and then having that data transferred for subsequent use to third parties, such as data that gets saved in the cloud. This patient data faced security threats and it is observed as major limitations of using such systems in Industry 5.0. This chapter analyzes the security and secrecy challenges, together with the necessities, the danger involved and proposed secured blockchain-based framework which is capable of future research scope in Industry 5.0. The study has described an Eye Hospital case study that stores the eye donors’ details. With such critical scenario, this study addresses healthcare scenario with poverty-led agenda and social developmental features.

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Inclusive Developments Through Socio-economic Indicators: New Theoretical and Empirical Insights
Type: Book
ISBN: 978-1-80455-554-5

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Supply Networks in Developing Countries: Sustainable and Humanitarian Logistics in Growing Consumer Markets
Type: Book
ISBN: 978-1-80117-195-3

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The Emerald Handbook of Blockchain for Business
Type: Book
ISBN: 978-1-83982-198-1

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Book part
Publication date: 15 May 2023

Priya Jindal and Lochan Chavan

Purpose: The banking sector took the initiative to improve it by releasing a new blockchain application. This innovative approach connects customers from various geographic…

Abstract

Purpose: The banking sector took the initiative to improve it by releasing a new blockchain application. This innovative approach connects customers from various geographic locations and also gives them a sense of banks’ global presence. Competition is one of the most important market factors because consumer tastes, interests and demands constantly change, making it difficult to meet these problems.

Methodology: Blockchain develops a Blue Ocean Approach in this competitive climate by enticing numerous market segments and giving the financial industry a fresh perspective that benefits the potential consumer. This chapter illustrates how the Blue Ocean Approach can be unlocked by a disruptive technology called blockchain, which generates value innovation and renders the competition obsolete.

Findings: This paradigm shifts the emphasis away from the present competition and generates value and demand for the product. The researcher advises that the Blue Ocean Strategy in retail banking, which uses blockchain technology, works very well since it eliminates cut-throat competition and favours costs, operations, and meeting financial targets on time.

Practical Implications: The study focuses on the bank’s real-world application of the Blue Ocean Strategy and the discovery of sustainable marketing strategies that will aid in their pursuit of innovation. It also highlights the elements introduced in the banking industry to support innovation and the development of long-lasting markets.

Details

Contemporary Studies of Risks in Emerging Technology, Part B
Type: Book
ISBN: 978-1-80455-567-5

Keywords

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