Blockchain for Industry 4.0: Emergence, Challenges, and Opportunities

325 Pages·2022·15.247 MB·English

by  Asharaf S., Justin Goldston, Samson Williams, Anoop V.S.

Blockchain for
I ndustry 4.0
This reference text provides the theoretical foundations, the emergence, and
the application areas of blockchain in an easy-to-understand manner that
would be highly helpful for researchers, academicians, and industry profes-
sionals to understand the disruptive potential of blockchain. It explains
blockchain concepts related to Industry 4.0, smart healthcare, and Internet
of Things (IoT) and explores smart contracts and consensus algorithms.
This book will serve as an ideal reference text for graduate students and
academic researchers in electrical engineering, electronics and communica-
tion engineering, computer engineering, and information technology.
This book
• Discusses applications of blockchain technology in diverse sectors
such as Industry 4.0, education, finance, and supply chain.
• Provides theoretical concepts, applications, and research advance-
ments in the field of blockchain.
• Covers the Industry 4.0 digitization platform and blockchain for data
management in Industry 4.0 in a comprehensive manner.
• Emphasizes analysis and design of consensus algorithms, fault toler-
ance, and strategies to choose the correct consensus algorithm.
• Introduces security issues in the industrial IoT, IoT, blockchain inte-
gration, and blockchain-based applications.
The text presents in-depth coverage of theoretical concepts, applications,
and advances in the field of blockchain technology. This book will be an
ideal reference for graduate students and academic researchers in diverse
engineering fields such as electrical, electronics and communication, com-
puter, and information technology.
Computational Methods for Industrial
Applications
Series Editor:
Bharat Bhushan
In today’s world, IoT platforms and processes in conjunction with the
disruptive blockchain technology and path-breaking artificial intelligence
(AI) algorithms lay out a sparking and stimulating foundation for sustain-
ing smarter systems. Further computational intelligence (CI) has gained
enormous interest from various quarters in order to solve numerous real-
world problems and enable intelligent behavior in changing and complex
environments. This book series focuses on varied computational methods
incorporated within the system with the help of AI, learning methods, ana-
lytical reasoning, and sense making in big data. Aimed at graduate students,
academic researchers, and professionals, the proposed series will cover the
most efficient and innovative technological solutions for industrial applica-
tions and sustainable smart societies in order to alter green power manage-
ment, effects of carbon emissions, air quality metrics, industrial pollution
levels, biodiversity, and ecology.
Blockchain for Industry 4.0: Emergence, Challenges, and
Opportunities
Anoop V. S., Asharaf S., Justin Goldston, and Samson Williams
Intelligent Systems and Machine Learning for Industry:
Advancements, Challenges, and Practices
P.R Anisha, C. Kishor Kumar Reddy, Nguyen Gia Nhu, Megha Bhushan,
Ashok Kumar, and Marlia Mohd Hanafiah
Blockchain for
I ndustry 4.0
Emergence, Challenges, and
Opportunities
Edited by
Anoop V. S., Asharaf S., Justin Goldston, and
Samson Williams
First edition published 2023
by CRC Press
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and by CRC Press
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CRC Press is an imprint of Taylor & Francis Group, LLC
© 2023 selection and editorial matter, Anoop V. S., Asharaf S., Justin Goldston, and Samson
Williams; individual chapters, the contributors.
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publisher cannot assume responsibility for the validity of all materials or the consequences of
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Library of Congress CataloginginPublication Data
Names: S., Anoop V., editor.
Title: Blockchain for industry 4.0 : emergence, challenges, and opportunities / edited by Anoop
V. S., Asharaf S., Justin Goldston and Samson Williams.
Description: First edition. | Boca Raton, FL : CRC Press, 2023. | Series: Computational methods
for industrial applications | Includes bibliographical references and index.
Identifiers: LCCN 2022030561 (print) | LCCN 2022030562 (ebook) | ISBN 9781032253664 (hbk)
| ISBN 9781032253695 (pbk) | ISBN 9781003282914 (ebk)
Subjects: LCSH: Blockchains (Databases)–Industrial applications. | Industry 4.0.
Classification: LCC QA76.9.B56 B553 2023 (print) | LCC QA76.9.B56 (ebook) |
DDC 005.74-dc23/eng/20220830
LC record available at https://lccn.loc.gov/2022030561
LC ebook record available at https://lccn.loc.gov/2022030562
ISBN: 9781032253664 (hbk)
ISBN: 9781032253695 (pbk)
ISBN: 9781003282914 (ebk)
DOI: 10.1201/9781003282914
Typeset in Sabon
by codeMantra
Contents
Preface vii
Editors ix
Contributors xiii
1 The rise of blockchain technology in healthcare for
the preservation of patient-centric health records 1
BILAL AHMED MIR, SICHENG LIU, ZHEN LI, SHUGUFTA ABRAHIM WANI,
TANVEER A. MIR, YUSERA FAROOQ KHAN, SHADIL IBRAHIM WANI,
MASAYOSHI FUKUSHIMA, AND TAKUTO YAMAGUCHI
2 Industry 4.0 cross-domain blockchain solutions in
healthcare: Trends and clinical considerations 23
USHARANI HAREESH GOVINDARAJAN, GAGAN NARANG,
NIKOLA ZIVLAK, AND VINAY SURENDRA YADAV
3 Blockchain in banking and financial services 45
HIMANSHU FALWADIYA, SANJAY DHINGRA, AND SHELLY GUPTA
4 Safeguarding blockchains from adversarial tactics 63
ALEX NEELANKAVIL DEVASSY AND DHANITH KRISHNA
5 Problems with the implementation of blockchain
technology for decentralized IoT authentication:
A literature review 91
VIJAY ANANT ATHAVALE AND ANKIT BANSAL
6 Blockchain – Foundational infrastructure for
Web 3.0 and cryptoassets 121
ASHUTOSH DUBEY, DEEPNARAYAN TIWARI, AND ANJALI TIWARI
v
vi Contents
7 Applications of blockchain technology for
sustainable education 143
FRANKLIN JOHN AND NIKHIL V. CHANDRAN
8 Blockchain technology in banking and
financial services sector in india 161
SWARAJ M.
9 Legal dimensions of blockchain technology 175
RENUKA V. AND SHANMUGHAM D. JAYAN
10 Blockchain for securing the IoT-based smart wireless
surveillance cameras 191
AURANGJEB KHAN AND JAYANTHI M.
11 Central bank digital currency 215
VIDYASHANKAR RAMALINGAM
12 Blockchain technology in disaster management:
A high-level overview and future research dimensions 229
SREELAKSHMI S. AND VINOD CHANDRA S. S.
13 Interoperable blockchain systems 245
RADHA SRIDHARAN AND MANJU SADASIVAN
14 Blockchain for industry 4.0: Overview and foundation
of the technology 267
MEGHA GUPTA AND SUHASINI VERMA
15 Enabling cross-border trade in the face of regulatory
barriers to data flow – the case of the blockchain-based
service network 285
SHOUFENG CAO, XAVIER BOYEN, FELICITY DEANE,
THOMAS MILLER, AND MARCUS FOTH
Index 305
Preface
Blockchain, a distributed ledger management infrastructure where blocks
of transactional data are hash chained for immutability to establish trust
for enabling the digital currency Bitcoin, has recently emerged as a disrup-
tive technology with many real-world applications demanding trusted data
management. Such a blockchain infrastructure on clusters of computers
providing decentralized data management is now believed to have the capa-
bility to move the notion of trust from trusted institutional mechanisms
to mathematically provable technology infrastructure. Since trust in data
is the key to the management for establishing relationships between busi-
nesses, government, and people, blockchain can definitely bring disruptions
in a vast array of domains and sectors. Due to this disruptive nature, block-
chain technology is getting a great deal of attention from industries and
businesses which are vying with each other to incorporate this immutable,
shared, and tamper-proof ledger mechanism into their business models.
There are widespread opinions that claim blockchain just as hype, but very
recently, we have witnessed the business adoption graphs going high. Some
of the industry and business giants have already implemented this distrib-
uted ledger technology in their mainstream business modules to ensure the
credibility of transactions for their stakeholders. The scope of this proposed
edited book is to discuss the theoretical foundations, the emergence, and
the application areas of blockchain in an easy-to-understand manner that
would be highly helpful for researchers, academicians, and industry profes-
sionals to understand the disruptive potentials of blockchain. This book
provides the theoretical concepts, empirical studies, and detailed overview
of various aspects related to the development of blockchain applications
from a reliable, trusted, and secure data transmission perspective. Further,
it also intends to induce further research about the ethical impact of the
new “distributed trust” paradigm resulting from the surge of such a disrup-
tive technology.
vii

Editors
Anoop V. S. is a Postdoctoral Fellow at Smith School of Business, Queen’s
University, Ontario, Canada. Previously, he worked as a Senior Scientist
(Research and Training) at Kerala Blockchain Academy, Kerala University
of Digital Sciences, Innovation, and Technology, Thiruvananthapuram,
India. He received his Doctor of Philosophy (PhD) and Master of
Philosophy (MPhil) from Cochin University of Science and Technology
(CUSAT), Kerala. He has also worked as a Senior AI Data Scientist with
Dubai Future Accelerator for implementing AI solutions for Etisalat
and Etihad Airways. He is an experienced software engineer with more
than 5 years of experience working with US-based multi-national com-
panies in Technopark, Thiruvananthapuram. He has completed several
industry internships in data science and AI that helped him implement
intelligent algorithms for many organizations to solve their complex
business problems. He has over 10 years of overall experience in teach-
ing, research, and industry. His research interests are in text mining,
natural language processing, computational social sciences, and block-
chain. He has published papers in journals of national and international
repute, book chapters, and conference proceedings in major venues of AI
and knowledge management.
Asharaf S. is a computer engineer/scientist with extensive exposure in
algorithms for machine learning. In addition to his current role as a
Dean (R&D) and Professor at Kerala University of Digital Sciences,
Innovation, and Technology, he also serves as a visiting faculty for MDP
programs at the Indian Institute of Management Kozhikode and as a
Mentor in Kerala Startup Mission. He received his PhD and Master of
Engineering degrees in Computer Science from the Indian Institute of
Science, Bangalore. He graduated in Computer Engineering from Cochin
University of Science and Technology. After B.Tech, he has worked as a
lecturer at T.K.M. College of Engineering, Kollam, and after PhD, he
has worked as a Research Scientist at America Online (AOL) R&D Labs
and as an Assistant Professor at the Indian Institute of Management
Kozhikode. He is a recipient of IBM outstanding PhD student award
ix