Abstract
Blockchain technology is set to extremely affect a wide assortment of enterprises, extending from capital markets to the music business. While some utilization cases may appear glaringly evident, the innovation is as yet encircled by a lot of promotion and vulnerability. As a chief, in what manner would it be a good idea for you to move toward the subject, and when would it be a good idea for you to get the ball rolling and effectively expect to execute blockchain innovation?
As indicated by Juniper Research, six of ten enormous enterprises are either effectively considering or during the time spent sending the blockchain revolution. Among organizations that have arrived at the proof of concept stage, 66% (66 percent) expected blockchain to be incorporated into their frameworks before the finish of 2018. The examination guaranteed that those organizations that would profit most from blockchain incorporate those with the requirement for (1) straightforwardness in exchanges, (2) current reliance inheritance stockpiling frameworks, and (3) a high volume of transmitted data. Taking a gander at the explanations behind actualizing blockchain, there is a characteristic hazard that supervisors anxious to investigate new advancements from a hasty opinion without investigating elective alternatives. As per the exploration, foundational change, as opposed to innovation, may give both better and less expensive answers for the current issue. For some organizations, the go-to way to deal with examining potential use cases for blockchain is to search for wasteful aspects in ebb and flow processes. This approach is ensured to give a few outcomes; however, frequently the arrangement is to genuinely restructure inheritance procedures to fit an advanced world as opposed to investigating new and obscure advances. One motivation behind why blockchain frequently develops as a response to numerous issues is that it is anything but difficult to envision significant level use instances of blockchain innovation. Be that as it may, as we adventure under the outside of such use cases, applying blockchain innovation to a realized issue is very frequently a hypothetical arrangement. On the off chance that we take a gander at it, blockchain in its most straightforward structure is an option in contrast to the customary database. Blockchain varies from a database from multiple points of view, yet the most noteworthy special case is the decentralized idea of blockchain. While a database requires a focal position to keep up and oversee information, blockchain offers a decentralized way to deal with the capacity and check of information. Be that as it may, this element includes some significant pitfalls. Blockchains in their present state make them scale issues, making them slower than customary databases. Likewise, clients must compensation a charge for every “exchange” on the database, which is mutable and inconsistent. This research work provides the aids and effects of blockchain technology in the industry, blockchain technology industry applications, the significance of blockchain technology and decentralization in industry, and a comparative study on different industry applications to expand the usage of blockchain technology.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
P. Mell, T. Grance, The NIST definition of cloud computing. Nat. Inst. Standards Technol., Gaithersburg, MD, USA, Tech. Rep. Special Publication, pp. 800–145 (2011)
F. Liu, J. Tong, J. Mao, R. Bohn, J. Messina, L. Badger, D. Leaf, NIST cloud computing reference architecture. NIST Special Publicat. 500(211), pp. 1–28 (2011)
M. Armbrust, I. Stoica, M. Zaharia, A. Fox, R. Griffith, A.D. Joseph, R. Katz, A. Konwinski, G. Lee, D. Patterson, A. Rabkin, A view of cloud computing. Commun. ACM 53(4), pp. 50–58 (2010)
S. Nakamoto, Bitcoin: A Peer-to-Peer Electronic Cash System, Bitcoin Organization, 1–13 2008
J. Singh, J.D. Michels, Blockchain as a Service (BaaS): providers and trust. Proceedings of the IEEE European Symposium on Security and Privacy Workshops, pp. 67–74, UK, April 2018
B.C. Florea, Blockchain and Internet of Things data provider for smart applications. Proceedings of the 7th Mediterranean Conference on Embedded Computing, pp. 1–4, Montenegro, June 2018
J.H. Park, J.H. Park, Blockchain security in cloud computing: Use cases, challenges, and solutions. Symmetry 9(164), pp. 1–13 (2017)
T. Salman, M. Zolanvari, A. Abad, R. Jain, M. Samaka, Security services using Blockchains: a state of the art survey. IEEE Commun. Surv. Tutor. 21(1), 858–880 (2019)
X. Liang, S. Shetty, D. Tosh, C. Kamhoua, K. Kwiat, L. Njilla, ProvChain: a blockchain-based data provenance architecture in cloud environment with enhanced privacy and availability. Proceedings of the 17th IEEE/ACM International Symposium on Cluster, Cloud and Grid Computing, pp. 468–477, Spain, May 2017
R.S.M. Lakshmi Patibandla, N. Veeranjaneyulu, A SimRank based ensemble method for resolving challenges of partition clustering methods. J. Sci. Ind. Res. 79, 323–327 (2020)
Y. Niu, L. Wei, C. Zhang, J. Liu, Y. Fang, An anonymous and accountable authentication scheme for Wi-Fi hotspot access with the bitcoin blockchain. Proceedings of the IEEE/CIC International Conference on Communications in China, pp.1–6, China, Oct. 2017
M.K.R. Ingole, M.S. Yamde, Blockchain technology in cloud computing: A systematic review, International Research Journal of Engineering and Tech, 5(4), 1918–1921 (2018)
R.S.M.L. Patibandla, N. Veeranjaneyulu, Survey on clustering algorithms for unstructured data, in Intelligent Engineering Informatics. Advances in Intelligent Systems and Computing, ed. by V. Bhateja, C. Coello Coello, S. Satapathy, P. Pattnaik, vol. 695, (Springer, Singapore, 2018)
R.S.M.L. Patibandla, N. Veeranjaneyulu, Performance analysis of partition and evolutionary clustering methods on various cluster validation criteria. Arab. J. Sci. Eng. 43, 4379–4390 (2018)
Z. Zheng, S. Xie, H.N. Dai, X. Chen, H. Wang, Blockchain challenges and opportunities: a survey. Int. J. Web Grid Serv. 14(4), 352–375 (2018)
G. Nagasubramanian, R.K. Sakthivel, R. Patan, A.H. Gandomi, M. Sankayya, B. Balusamy, Securing e-health records using keyless signature infrastructure blockchain technology in the cloud. Neural Comput. & Applic. 32(3), 639–647 (2020)
S.K. Sharma, R.K. Modanval, N. Gayathri, S.R. Kumar, C. Ramesh, Impact of application of big data on cryptocurrency, in Cryptocurrencies and Blockchain Technology Applications, pp. 181–195, (2020) https://doi.org/10.1002/9781119621201.ch10
A.K. Show, A. Kumar, A. Singhal, N. Gayathri, K. Vengatesan, Future blockchain technology for autonomous applications/autonomous vehicle. In Opportunities and Challenges for Blockchain Technology in Autonomous Vehicles, pp. 165–177. https://doi.org/10.4018/978-1-7998-3295-9.ch010
A. Pandey, A. Kumar, A. Singha, N. Gayathri, S.R. Kumar, 4 Blockchain Databases 2. Blockchain, Big Data and Machine Learning: Trends and Applications, 97 (2020)
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Patibandla, R.S.M.L., Vejendla, L.N. (2022). Significance of Blockchain Technologies in Industry. In: Baalamurugan, K., Kumar, S.R., Kumar, A., Kumar, V., Padmanaban, S. (eds) Blockchain Security in Cloud Computing. EAI/Springer Innovations in Communication and Computing. Springer, Cham. https://doi.org/10.1007/978-3-030-70501-5_2
Download citation
DOI: https://doi.org/10.1007/978-3-030-70501-5_2
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-70500-8
Online ISBN: 978-3-030-70501-5
eBook Packages: EngineeringEngineering (R0)