Block by block: A blockchain-based peer-to-peer business transaction for international trade

Reza Toorajipour, Pejvak Oghazi*, Vahid Sohrabpour, Pankaj C. Patel, Rana Mostaghel

*Motsvarande författare för detta arbete

Forskningsoutput: TidskriftsbidragArtikelVetenskapligPeer review

3 Citeringar (Scopus)

Sammanfattning

Heterogeneity and complicated processes, risk of information leakage, and higher costs are some of the challenges that stem from third-party involvement in business transactions. This study proposes a novel mechanism to address the shortcomings of third-party-dependent transactions in the context of international trade. Moreover, we provide business process modeling, deployed in a business transaction scenario, to furnish a deeper perspective on the working of the mechanism based on Business Process Model and Notation (BPMN) 2.0 standards and guidelines. By analyzing and identifying blockchain roles and capabilities, this study proposes a blockchain technology-based letter of credit (BTLC), which is a mechanism providing letters of credit (LCs) that incorporate the benefits of blockchain and smart contracts.
OriginalspråkEngelska
Artikelnummer121714
Referentgranskad vetenskaplig tidskriftTechnological Forecasting and Social Change
Volym180
ISSN0040-1625
DOI
StatusPublicerad - 26.04.2022
MoE-publikationstypA1 Originalartikel i en vetenskaplig tidskrift

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  • 512 Företagsekonomi

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