Blockchain Use Cases and Their Feasibility

Open access

Abstract

The goal of the paper is to provide a vague summary of currently existing blockchain use cases in the information technology industry. Respective use cases have been examined in already existing scientific papers, Master Theses, industry white papers and blogs of industry experts. The paper also contains a description of blockchain main technological aspects and working principles, which allows making the assessment of the presented use cases. For each use case respective companies or organisations are added that are applying or testing the given solution. Due to research limitations the paper should not be considered an exhaustive blockchain use case description.

The paper also provides short introduction into a feasibility analysis of specific blockchain use case. The authors describe the basic steps of potential idea evaluation with regards to blockchain main aspects. It helps understand the necessity for development of a detailed blockchain feasibility model.

[1] S. Nakamoto, “Bitcoin: A Peer-to-Peer Electronic Cash System,” 2008. [Online]. Available: https://bitcoin.org/bitcoin.pdf [Accessed: 8 May 2018].

[2] A. Narayanan, J. Bonneau, E. Felten, A. Miller, and S. Goldfeder, Bitcoin and Cryptocurrency Technologies. Princeton University Press, 2016, 308 p.

[3] G. Hileman & M. Rauchs, Global Blockchain Benchmarking Study. Cambridge, United Kingdom: Cambridge Centre of Alternative Finance, Sept. 2017. Available: https://ssrn.com/abstract=3040224 [Accessed: 8 May 2018].

[4] D. Yang, J. Gavigan, and Z. Wilcox-O'Hearn, Survey of Confidentiality and Privacy Preserving Technologies for Blockchains, 2016. Available: https://www.r3.com/wp-content/uploads/2017/06/survey_confidentiality_privacy_R3.pdf [Accessed: 8 May 2018].

[5] Citi Group. [Online]. Citi GPS: How FinTech is Forcing Banking to a Tipping Point, March 2016. Available: https://www.citivelocity.com/citigps/ [Accessed: 3 May 2018].

[6] Everis NEXT, “17 Blockchain Disruptive Use Cases,” 31 May 2016. [Online]. Available: https://everisnext.com/2016/05/31/blockchain-disruptive-use-cases/ [Accessed: 8 May 2018].

[7] R. Krawiec, D. Housman, M. White, M. Filipova, F. Quarre, D. Barr, A. Nesbitt, K. Fedosova, J. Killmeyer, A. Israel, and L. Tsa, Blockchain: Opportunities for Health Care. NIST Workshop on Blockchain & Healthcare, Aug. 2016. Available: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/public-sector/us-blockchain-opportunities-for-health-care.pdf [Accessed: 8 May 2018].

[8] M. Conoscenti, A. Vetro, and J. C. De Martin, “Blockchain for the Internet of Things: A Systematic Literature Review,” in IEEE/ACS 13th International Conference of Computer Systems and Applications, 2016, pp. 1–6. https://doi.org/10.1109/AICCSA.2016.7945805

[9] “Survey on Establishing Evaluation Model for Blockchain,” Mitsubishi Research Institute, 2017. Available: http://www.meti.go.jp/meti_lib/report/H28FY/000346.pdf [Accessed: 8 May 2018].

[10] P. Zhang, D. C. Schmidt, J. White, and G. Lenz, “Metrics for Assessing Blockchain-Based Healthcare Decentralized Apps,” in IEEE 19th International Conference on e-Health Networking, Applications and Services, 2017 pp. 17–20. https://doi.org/10.1109/HealthCom.2017.8210842

[11] Z. Zheng, S. Xie, H. Dai, X. Chen, and H. Wang, “An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends,” in IEEE 6th International Congress on Big Data, June 2017, pp. 557–564. https://doi.org/10.1109/BigDataCongress.2017.85

[12] N. Bauerle, “What are the Applications and Use Cases of Blockchain?”. [Online]. Available: https://www.coindesk.com/information/applications-use-cases-blockchains [Accessed: 8 May 2018].

[13] K. Christidis and M. Devetsikioti, “Blockchains and Smart Contracts for the Internet of Things,” IEEE Access, vol. 4, pp. 2292–2303, 2016. https://doi.org/10.1109/access.2016.2566339

[14] BitFury Group and J. Garzik, “Public versus Private Blockchains — Part1: Permissioned Blockchains, Part2: Permissionless Blockchains, 2015. Available: http://bitfury.com/docs/

[15] V. Lemieux, Blockchain Technology for Record Keeping: Help or Hype?, vol 1. University of British Columbia, 2016. Available: https://www.researchgate.net/profile/Victoria_Lemieux [Accessed: 8 May 2018].

[16] H. Okada, S. Yamasaki, and V. Bracamonte, “Proposed Classification of Blockchains Based on Authority and Incentive Dimensions,” in 19th International Conference on Advanced Communication Technology, 2017. https://doi.org/10.23919/ICACT.2017.7890159

[17] B. A. Tama, B. J. Kweka, Y. Park, and K. H. Rhee, “A Critical Review of Blockchain and Its Current Applications,” in International Conference on Electrical Engineering and Computer Science, 2017, pp. 109–113. https://doi.org/10.1109/ICECOS.2017.8167115

[18] A. Lewis, “So You Want to Use a Blockchain for That?,” Jul. 2016. [Online]. Available: https://www.coindesk.com/want-use-blockchain/ [Accessed: 8 May 2018].

[19] H. Halpin and M. Piekarska, “Introduction to Security and Privacy on the Blockchain,” in 2nd IEEE European Symposium on Security and Privacy Workshops, 2017. https://doi.org/10.1109/EuroSPW.2017.43

[20] S. Porru, A. Pinna, M. Marchesi, and R. Tonelli, “Blockchain-Oriented Software Engineering: Challenges and New Directions,” in IEEE 39th International Conference on Software Engineering Companion, May 2017, pp. 169–171. https://doi.org/10.1109/ICSE-C.2017.142

[21] T. Swanson, Consensus-as-a-Service: A Brief Report on the Emergence of Permissioned, Distributed Ledger Systems. R3 CEV, 2015.

[22] A. Jeffries, “‘Blockchain” is Meaningless,” The Verge, March 2018. [Online]. Available: https://www.theverge.com/2018/3/7/17091766/blockchain-bitcoin-ethereum-cryptocurrency-meaning [Accessed: 8 May 2018].

[23] A. Walch, “The Path of the Blockchain Lexicon (and the Law),” 36 Review of Banking & Financial Law 713, 2017. Available: https://ssrn.com/abstract=2940335 [Accessed: 8 May 2018].

[24] J. Stark, Applications of Distributed Ledger Technology to Regulatory and Compliance Processes. R3, 2017. Available: https://www.r3.com/wp-content/uploads/2017/07/apps-reg-compliance_R3.pdf [Accessed: 8 May 2018].

[25] V. Buterin, “On Public and Private Blockchains,” Aug. 2015. [Online]. Available: https://blog.ethereum.org/2015/08/07/on-public-and-privateblockchains [Accessed: 8 May 2018].

[26] H. Vranken, “Sustainability of Bitcoin and Blockchains,” Current Opinion in Environmental Sustainability, vol. 28, pp. 1–9, 2017. http://doi.org/10.1016/j.cosust.2017.04.011

[27] L. S. Sankar, M. Sindhu, and M. Sethumadhavan, “Survey of Consensus Protocols on Blockchain Applications,” in 4th IEEE International Conference on Advanced Computing and Communication Systems. https://doi.org/10.1109/ICACCS.2017.8014672

[28] K. Croman, C. Decker, I. Eyal, A. Gencer, R. Wattenhofer et al. “On Scaling Decentralized Blockchains,” in International Financial Cryptography Association: FC 2016 Workshops, 2016, LNCS 9604, pp. 106–125. Available: http://fc16.ifca.ai/bitcoin/papers/CDE+16.pdf [Accessed: 8 May 2018].

[29] S. Azouvi, M. Maller, and S. Meiklejohn, “Egalitarian Society or Benevolent Dictatorship: The State of Cryptocurrency Governance,” in 22nd International Conference on Financial Cryptography and Data Security, March 2018. Available: https://fc18.ifca.ai/bitcoin/papers/bitcoin18-final13.pdf [Accessed: 8 May 2018].

[30] F. Hofmann, W. Simone, E. Ron, and M. Böhmecke-Schwafert, “The Immutability Concept Of Blockchains And Benefits Of Early Standardization,” in ITU Kaleidoscope: Challenges for a Data-Driven Society, Nov. 2017. https://doi.org/10.23919/ITU-WT.2017.8247004

[31] N. Alexopoulos, J. Daubert, M. Muhlhauser, and S. M. Habib, “Beyond the Hype: On Using Blockchains in Trust Management for Authentication,” in 16th IEEE International Conference on Trust, Security and Privacy in Computing and Communications, Aug. 2017, pp. 546–553. https://doi.org/10.1109/Trustcom/BigDataSE/ICESS.2017.283

[32] V. Lemieux, Blockchain Technology for Record Keeping: Help or Hype?, vol. 2. University of British Columbia, 2016. Available: https://www.researchgate.net/profile/Victoria_Lemieux [Accessed: 8 May 2018].

[33] D. Anh, M. Zhang, B. C. Ooi, and G. Chen, “Untangling Blockchain: A Data Processing View of Blockchain Systems,” in IEEE Transactions on Knowledge and Data Engineering, Jan. 2018. https://doi.org/10.1109/TKDE.2017.2781227

[34] A. Miller, “Securing Blockchains,” IC3 Retreat, May 2016. Available: https://goo.gl/HuSrU8 [Accessed: 8 May 2018].

[35] InterPARES Trust Terminology Project: Key Blockchain Terms and Definitions, 2017. [Online]. Available: http://arstweb.clayton.edu/interlex/blockchain/ [Accessed: 8 May 2018].

[36] F. Dai, Y. Shi, N. Meng, L. Wei, and Z. Ye, “From Bitcoin to Cybersecurity: Comparative Study of Blockchain Application and Security Issues,” in IEEE 4th International Conference on Systems and Informatics, Nov. 2017, pp. 975–979. https://doi.org/10.1109/ICSAI.2017.8248427

[37] K. Fanning and D. B. Centers, “Blockchain and Its Coming Impact on Financial Services,” J. Corp. Account. Finance, vol. 27, no. 5, 2016. http://doi.org/10.1002/jcaf.22179

[38] G. Magyar, “Blockchain: Solving the Privacy and Research Availability Tradeoff for EHR Data,” in IEEE 30th Jubilee Neumann Colloquium, 2017. https://doi.org/10.1109/NC.2017.8263269

[39] H. Wang, K. Chen, and D. Xu, “A Maturity Model for Blockchain adoption,” Financial Innovation, vol. 2, no. 1, 2016. https://doi.org/10.1186/s40854-016-0031-z

[40] J. Yli-Huumo, D. Ko, S. Choi, S. Park, and K. Smolander, “Where is Current Research on Blockchain Technology? – A Systematic Review,” PLOS ONE, vol. 11, no. 10, 2016. http://doi.org/10.1371/journal.pone.0163477

[41] F. Lamberti, V. Gatteschi, C. Demartini, C. Pranteda, and V. Santamaria, “Blockchain or not Blockchain, That is the Question of the Insurance and Other Sectors,” IT Professional, June 2017. https://doi.org/10.1109/MITP.2017.265110355

[42] L. M. Bech and R. Garratt, “Central Bank Cryptocurrencies,” BIS Quarterly Review, Sep. 2017. [Online]. Available: https://www.bis.org/publ/qtrpdf/r_qt1709f.htm [Accessed: 8 May 2018].

[43] T. Bocek, B. Rodrigues, T. Straser, and B. Stiller, “Blockchains Everywhere – A Use-Case of Blockchains in the Pharma Supply-Chain,” in IFIP/IEEE Symposium on Integrated Network and Service Management, May 2017, pp. 772–777. https://doi.org/10.23919/INM.2017.7987376

[44] Z. Chen and Y. Zhu, “Personal Archive Service System Using Blockchain Technology: Case Study, Promising and Challenging,” in IEEE International Conference on AI & Mobile Services, June 2017, pp. 93–99. https://doi.org/10.1109/AIMS.2017.31

[45] C. Huls, “A Scenario Planning for Interbank Payments and Decentralized Ledger Platforms,” Master thesis, University of Twente, Utrecht, 2015. Available: http://essay.utwente.nl/66966/1/Huls_MA_EWI.pdf [Accessed: 8 May 2018].

[46] M. Izmaylov, P. Anderson, A. Lemble, and J. Vysoky, A Practical Application of Blockchain for the Travel Industry. 2018. Available: https://windingtree.com/#downloads [Accessed: 8 May 2018].

[47] V. Lemieux, “Blockchain and Distributed Ledgers as Trusted Recordkeeping Systems: An Archival Theoretic Evaluation Framework,” in IEEE Future Technologies Conference, June 2017. Available: https://www.researchgate.net/profile/Victoria_Lemieux [Accessed: 8 May 2018].

[48] R. Lewis, “30 Things You can do With the Blockchain,” 2016. [Online]. Available: https://medium.com/yope-chain/30-things-you-can-do-with-ablockchain-b23b2ab39664 [Accessed: 8 May 2018].

[49] S. Porru, A. Pinna, M. Marchesi, and R. Tonelli, “Blockchain-Oriented Software Engineering: Challenges and New Directions,” in IEEE 39th International Conference on Software Engineering Companion, May 2017, pp. 169–171. https://doi.org/10.1109/ICSE-C.2017.142

[50] A. Tandulwadikar, Blockchain in Banking: A Measured Approach, Cognizant Reports. April 2016. Available: https://www.cognizant.com/whitepapers/Blockchain-in-Banking-AMeasured-Approach-codex1809.pdf [Accessed: 8 May 2018].

[51] L. S. Sankar, M. Sindhu, and M. Sethumadhavan, “Survey of Consensus Protocols on Blockchain Applications,” in 4th IEEE International Conference on Advanced Computing and Communication Systems, 2017. https://doi.org/10.1109/ICACCS.2017.8014672

[52] J. Seppälä, “The Role of Trust in Understanding the Effects of Blockchain on Business Models,” Master thesis, Aalto University, Helsinki, Finland, 2016. Available: https://aaltodoc.aalto.fi/bitstream/handle/123456789/23302/master_Seppälä_Jane_2016.pdf?sequence=1 [Accessed: 8 May 2018].

[53] V. Lemieux, “Typology of Blockchain Recordkeeping Solutions and Some Reflections on their Implications for the Future of Archival Preservation,” in IEEE International Conference on Big Data, Dec. 2017. https://doi.org/10.1109/BigData.2017.8258180

[54] S. K. Lo, X. Xu, Y. K. Chiam, and Q. Lu, “Evaluating Suitability of Applying Blockchain,” in IEEE 22nd International Conference on Engineering Complex Computer Systems, 2017, pp. 158–161. https://doi.org/10.1109/ICECCS.2017.26

[55] M. E. Peck, “Blockchain world – Do You Need a Blockchain? This Chart Will Tell You if the Technology Can Solve Your Problem,” IEEE Spectrum, vol. 54, issue 10, pp. 38–60, 2017. https://doi.org/10.1109/MSPEC.2017.8048838

[56] D. Šalehar, “Pattern Based Evaluation of Blockchain Technology as a catalyst for Business Model Innovation,” Master thesis, Delft University of Technology, Netherlands, 2017. Available: http://repository.tudelft.nl/ [Accessed: 8 May 2018].

[57] T. D. Smith, “The Blockchain Litmus Test,” in IEEE International Conference on Big Data, Dec. 2017, pp. 2217–2226. https://doi.org/10.1109/BigData.2017.8258183

[58] Mercator Advisory Group Inc., Are Blockchain Solutions Ready? Three Blockchain Solutions Put to the Test. Oct. 2016. Available: https://www.co-opfs.org/media/Mercator-Blockchain-Whitepaper.pdf [Accessed: 8 May 2018].

[59] F. Glaser, “Pervasive Decentralisation of Digital Infrastructures: A Framework for Blockchain enabled System and Use Case Analysis,” in Proc. 50th Hawaii International Conference on System Science, 2017, pp. 1543–1552. Available: http://hdl.handle.net/10125/41339 [Accessed: 8 May 2018].

[60] Ministry of Economy, Trade and Industry of Japan, Evaluation Forms for Blockchain-Based Systems. 2017. Available: http://www.meti.go.jp/english/press/2017/pdf/0329_004a.pdf_c

[61] L. Aniello, R. Baldoni, E. Gaetani, F. Lombardi, A. Margheri, and V. Sassone, “A Prototype Evaluation of a Tamper-Resistant High Performance Blockchain-Based Transaction Log for a Distributed Database,” in IEEE 13th European Dependable Computing Conference, Sep. 2017, pp. 151–154. https://doi.org/10.1109/EDCC.2017.31

[62] A. Brinckman, D. Luc, J. Nabrzyski, G. L. Neidig, J. Neidig, T. A. Puckett, S. K. Radha, and I. J. Taylor, “A Comparative Evaluation of Blockchain Systems for Application Sharing Using Containers,” in IEEE 13th International Conference on eScience, Oct. 2017, pp. 490–497. https://doi.org/10.1109/eScience.2017.80

[63] A. E. Gencer and E. G. Sirer, “Miniature World: Measuring and Evaluating Blockchains,” Cornell University, 2016. [Online]. Available: http://hackingdistributed.com/2017/02/10/miniature-world/

[64] K. Stinchcombe, “Ten Years in, Nobody Has Come up With a Use for Blockchain,” Dec. 2017. [Online]. Available: https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-usecase-for-blockchain-ee98c180100 [Accessed: 8 May 2018].

[65] J. Ovenden, “Why Blockchain Hype Must End,” Innovation Enterprise, 2018. Available: https://channels.theinnovationenterprise.com/articles/why-blockchainhype-must-end [Accessed: 8 May 2018].

[66] D. Yaga, P. Mell, N. Roby, and K. Scarfone, Draft NISTIR 8202: Blockchain Tecnology Overview. NIST, 2018. Available: https://csrc.nist.gov/publications/detail/nistir/8202/draft [Accessed: 8 May 2018].

[67] J. Stolfi, Review of NISTIR 8202. Institute of Computing at State University of Campinas, Brazil, 2018. Available: https://www.ic.unicamp.br/~stolfi/temp/nist-report-review.pdf [Accessed: 8 May 2018].

[68] D. Gerard, Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts. CreateSpace Independent Publishing Platform, 2017, 182 p.

Applied Computer Systems

The Journal of Riga Technical University

Journal Information

Cited By

Metrics

All Time Past Year Past 30 Days
Abstract Views 0 0 0
Full Text Views 1105 1105 159
PDF Downloads 808 808 77