Turkish Journal of Computer and Mathematics Education
Journal license

Journal

Turkish Journal of Computer and Mathematics Education


Volume
& Issue

Volume 12, Issue 3


Published
on

April 5, 2021


Pages

3762-3766


DOI

Article

Application Of Permissioned Blockchain For Automated, Efficient, Secure Cross Border Trade


Authors

Sreedevi Ba and M.s. Bennet Prabab


Abstract

There are lot of documents and confidential data involved in international trade. Banks offer financial services and also act as middleman for cross border trades. The verification process plays a vital role and it takes months to years, to complete. The major problem is to maintain integrity and confidentiality of the data shared, and to maintain fair trading process. Blockchain technology is introduced to increase the efficiency and security of the documents shared to the needed parties in the trade. Permissioned blockchain is used wherein the participants of the network are controlled and governed by the blockchain owner. Hyperledger fabric platform is used to implement the trade finance application. The main idea is to automate the verification processes in order to complete the trade financing within minutes to hours and to enhance security of the documents shared using Attribute Based Encryption (ABE) in cross border trades. The smart contracts in blockchain provides functionalities to assure that the information is tamper-free, auditable and verifiable.


Keywords

Attribute Based Encryption, Hyperledger fabric, Permissioned blockchain, Smart contracts, Trade finance


Citation

Ba, S. & Prabab, M. B. (2021). Application of permissioned blockchain for automated, efficient, secure cross border trade. Turkish Journal of Computer and Mathematics Education, 12(3), 3762–3766.

Published by: Engineering Journals

Engineering Journals Logo