Digital currency can reduce the issuance and circulation costs of physical cash and improve the convenience and transparency of economic activities. Therefore, digital currency has received widespread attention from central banks in recent years. As an important financial infrastructure, the UnionPay network is expected to provide effective support for the construction and operation of a digital currency system. This study uses the UnionPay network as basis to systematically propose a digital currency information system from three aspects, namely, digital currency account opening, exchange, and use, and further expounds on the operation mechanism of a digital currency information system prototype. This study also discusses how to apply blockchain technology to digital currency, such as using distributed ledger for digital currency confirmation and registration and using blockchain-enabled smart contracts to realize the forward guidance function of the central bank digital currency. Lastly, the current research introduces the value of using the UnionPay network to support the operation of a digital currency information system and its technical challenges, aiming to provide beneficial guidance and reference for future research effort.
The infrastructure finance gap has long-standing implications for economic and social development. Owing to low efficiency, high transaction costs, and long transaction time, conventional infrastructure financing instruments are considered to be major contributors to the increasing mismatch between the need for infrastructure development and available financing. Implemented through smart contracts, blockchain tokenization has shown characteristics that are poised to change the capital stack of infrastructure investment. This study analyzed the first SEC-compliant energy asset security token, ZiyenCoin, from the perspective of the key participants, relevant regulations, and token offering procedures. Results show that tokenization can improve infrastructure assets liquidity, transaction efficiency, and transparency across intermediaries. Conventional infrastructure financing instruments were compared with blockchain tokenization by reviewing the literature on infrastructure finance. The benefits and barriers of tokenizing infrastructure assets were thoroughly discussed to devise ways of improving infrastructure financing. The study also found that the potential of tokenization has not yet been fully realized because of the limited technical infrastructures, regulation uncertainties, volatilities in the token market, and absence of the public sector. This study contributes to the present understanding of how blockchain technology can be implemented in infrastructure finance and the role of tokenization in the structure of public–private partnership and project finance.
Blockchain has attracted much attention in recent years with the development of cryptocurrency and digital assets. As the underlying technology of cryptocurrency, blockchain has numerous benefits, such as de-centralization, collective maintenance, tamper-resistance, traceability, and anonymity. The potential of the blockchain technology (BT) is widely recognized in the financial field. Although some scholars have proposed the combination of blockchain and supply chain finance (SCF), the details of this combination is rarely mentioned. This study first analyzes the coupling between SCF and blockchain technology. Second, the conceptual framework of blockchain-driven SCF platform (BcSCFP) is presented. Third, the operation process of three SCF models on the BcSCFP is proposed. Finally, a case study combined with actual events is conducted. This paper has a positive practical significance in the operation and management of banks and loan enterprises.
Lack of trust has been an ongoing issue for decades in construction quality management, hindering the improvement of quality performance. The development of mutual trust depends on immutable, traceable, and transparent construction quality information records. However, current information technologies cannot meet the requirements. To address the challenge, this study explores a blockchain-based framework for construction quality information management, which extends applications of blockchain in the domain of construction quality management. A consortium blockchain system is designed to support construction quality management in which participants’ information permissions and lifecycle are discussed. Additionally, this study presents in detail the consensus process that aims to address the problem of information fraud. The automated compliance checking based on smart contracts is presented as well, aiming to assure that construction products meet regulation requirements. Finally, an example of the consortium blockchain network is visualized to validate the feasibility of blockchain-based construction quality information management. The research shows that blockchain can facilitate mutual trust in construction quality management by providing distributed, encrypted, and secure information records and supporting automated compliance checking of construction quality.
The quality traceability of precast components has largely affected the widespread adoption of prefabricated buildings. Blockchain technology provides an effective solution to change the centralized storage mode of traditional traceability system and its related disadvantages. In this paper, we propose a framework of quality traceability system for precast components based on blockchain technology. The system framework adopts a hybrid blockchain architecture and dual storage mode, defines three types of smart contracts, and creates an interactive and efficient source tracing query method, which could effectively achieve the goals of decentralization, openness, and non-tamperability, as well as efficient traceability.
Blockchain, a peer-to-peer, controlled, distributed database structure, has the potential to profoundly affect current business transactions in the construction industry through smart contracts, cryptocurrencies, and reliable asset tracking. The construction industry is often criticized for being slow in embracing emerging techno-logies and not effectively diffusing them through its supply chains. Often, the extensive fragmentation, traditional procurement structures, destructive competition, lack of collaboration and transparency, low-profit margins, and human resources are shown as the main culprits for this. As blockchain technology makes its presence felt strongly in many other industries like finance and banking, this study investigates the preparation of construction supply chains for blockchain technology through an explorative analysis. Empirical data for the study were collected through semi-structured interviews with 17 subject experts. Alongside presenting a strengths, weaknesses, opportunities, and threats analysis (SWOT), the study exhibits the requirements for and steps toward a construction supply structure facilitated by blockchain technology.
The construction industry has long faced the challenge of introducing collaborative systems among multiple stakeholders. This challenge creates a high level of rigidity in terms of processing shared information related to different processes, robust holistic regulations, payment actualizations, and resource utilization across different nodes. The need for a digital platform to cross-connect all stakeholders is necessary. A blockchain-based platform is a prime candidate to improve the industry in general and the construction supply chain (CSC) in particular. In this paper, a literature review is presented to establish the main challenges that CSC faces in terms of its effects on productivity and efficiency. In addition, the effect of applying blockchain platforms on a case study is presented and analyzed from performance and security level. The analysis aims to emphasize that blockchain, as presented in this paper, is a viable solution to the challenges in the CSC regardless of the risks associated with the security and robustness of the flow of information and data protection. Moreover, a threat analysis of applying a blockchain model on the CSC industry is introduced. This model indicates potential attacks and possible countermeasures to prevent the attacks. Future work is needed to expand, quantify, and optimize the threat model and conduct simulations considering proposed countermeasures for the different blockchain attacks outlined in this study.
Blockchain technology is considered one of the promising technologies of the information technology era. The core features of blockchain, such as decentralization, transparency, high security, and tamper-proof nature, bring great convenience for large-scale social cooperation and data sharing. Blockchain has a broad application prospect in the field of intelligent manufacturing. The key issues of this field, such as distributed collaborative production, industrial big data sharing and security, transparent logistics, and supply chain, are naturally consistent with the core characteristics of the blockchain technology. This study aims to analyze the application of blockchain in the field of intelligent manufacturing. First, we introduce the basic connotation and applications of blockchain. Then, we propose the theoretical basis for the application of blockchain in the field of intelligent manufacturing. Finally, we point out the realistic plights and provide some suggestions to promote the application of blockchain in the field of intelligent manufacturing.
Basins with various mineral resources coexisting and enriching often occupy an important strategic position. The exploration of various mineral resources is repetitive at present due to unshared data and imperfect management mechanism. This situation greatly increases the cost of energy exploitation in the country. Traditional data-sharing mode has several disadvantages, such as high cost, difficulty in confirming the right of data, and lack of incentive mechanism, which make achieving real data sharing difficult. In this paper, we propose a data-sharing mechanism based on blockchain and provide implementation suggestions and technical key points. Compared with traditional data-sharing methods, the proposed data-sharing mechanism can realize data sharing, ensure data quality, and protect intellectual property. Moreover, key points in the construction are stated in the case study section to verify the feasibility of the data-sharing system based on blockchain proposed in this paper.
Blockchain is commonly considered a potential disruptive technology. Moreover, the healthcare industry has experienced rapid growth in the adoption of health information technology, such as electronic health records and electronic medical records. To guarantee data privacy and data security as well as to harness the value of health data, the concept of Health Data Bank (HDB) is proposed. In this study, HDB is defined as an integrated health data service institution, which bears no “ownership” of health data and operates health data under the principal–agent model. This study first comprehensively reviews the main characters of blockchain and identifies the blockchain-based healthcare industry projects and startups in the areas of health insurance, pharmacy, and medical treatment. Then, we analyze the fundamental principles of HDB and point out four challenges faced by HDB’s sustainable development: (1) privacy protection and interoperability of health data; (2) data rights; (3) health data supervision; (4) and willingness to share health data. We also analyze the important benefits of blockchain adoption in HDB. Furthermore, three application scenarios including distributed storage of health data, smart-contract-based healthcare service mode, and consensus-algorithm-based incentive policy are proposed to shed light on HDB-based healthcare service mode. In the end, this study offers insights into potential research directions and challenges.