TY - GEN
T1 - V-Chain
T2 - 11th IEEE International Congress on Conferences on Internet of Things, 14th IEEE International Conference on Green Computing and Communications, 11th IEEE International Conference on Cyber, Physical and Social Computing, 4th IEEE International Conference on Smart Data, 1st IEEE International Conference on Blockchain and 18th IEEE International Conference on Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018
AU - Agyekum, Kwame O.B.Obour
AU - Xia, Qi
AU - Sifah, Emmanuel Boateng
AU - Amofa, Sandro
AU - Acheampong, Kingsley Nketia
AU - Gao, Jianbin
AU - Chen, Ruidong
AU - Xia, Hu
AU - Gee, James C.
AU - Du, Xiaojiang
AU - Guizani, Mohsen
N1 - Publisher Copyright:
© 2018 IEEE.
PY - 2018/7
Y1 - 2018/7
N2 - Significant improvements have been made in the way several businesses are conducted due to the influx of blockchain technology, which is a paradigm shift in research these days. Because of the several benefits this technology brings, including scalability, immutability, and the ability to secure data exchange among parties, data transfer becomes easier and simpler between entities. Automobile renting is a major business nowadays. Renting an auto summons numerous frameworks over a chain of procedures-including confirming the lessee's financial status, driving qualifications, accessible vehicle stock and car features. Leasing companies and financiers, however, need to recognize what is happening to the vehicles after the rent is agreed upon. There is also the problem of time consumption, as the traditional car lease process passes through a lot of stages before completion. The blockchain innovation can keep things up to speed with smart contracts. In this paper, we develop a car lease platform that is solely based on blockchain technology. The underlying principle utilized in this system is the smart contract, which is a programmable script that enforces decisions on all transactions made on the system, and also applies penalties to perpetrators. We evaluate the efficiency of our system by measuring the latency and throughput, and make comparisons with other related systems. Results indicate our system outperforms the others.
AB - Significant improvements have been made in the way several businesses are conducted due to the influx of blockchain technology, which is a paradigm shift in research these days. Because of the several benefits this technology brings, including scalability, immutability, and the ability to secure data exchange among parties, data transfer becomes easier and simpler between entities. Automobile renting is a major business nowadays. Renting an auto summons numerous frameworks over a chain of procedures-including confirming the lessee's financial status, driving qualifications, accessible vehicle stock and car features. Leasing companies and financiers, however, need to recognize what is happening to the vehicles after the rent is agreed upon. There is also the problem of time consumption, as the traditional car lease process passes through a lot of stages before completion. The blockchain innovation can keep things up to speed with smart contracts. In this paper, we develop a car lease platform that is solely based on blockchain technology. The underlying principle utilized in this system is the smart contract, which is a programmable script that enforces decisions on all transactions made on the system, and also applies penalties to perpetrators. We evaluate the efficiency of our system by measuring the latency and throughput, and make comparisons with other related systems. Results indicate our system outperforms the others.
KW - Blockchain
KW - car lease
KW - smart contract
UR - http://www.scopus.com/inward/record.url?scp=85067847967&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85067847967&partnerID=8YFLogxK
U2 - 10.1109/Cybermatics_2018.2018.00228
DO - 10.1109/Cybermatics_2018.2018.00228
M3 - Conference contribution
AN - SCOPUS:85067847967
T3 - Proceedings - IEEE 2018 International Congress on Cybermatics: 2018 IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018
SP - 1317
EP - 1325
BT - Proceedings - IEEE 2018 International Congress on Cybermatics
Y2 - 30 July 2018 through 3 August 2018
ER -