An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.

Cross-border transactions have been more and more popular around the world. However, the current cross-border transactions still have risks and challenges, e.g., differences in regulation policies and unbalanced profits of banks. To address this critical issue, we construct a new framework for the t...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Zhengtang Fu, Peiwu Dong, Siyao Li, Yanbing Ju
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/b7c56afe24834aa3a174a30fad3b5912
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:b7c56afe24834aa3a174a30fad3b5912
record_format	dspace
spelling	oai:doaj.org-article:b7c56afe24834aa3a174a30fad3b59122021-12-02T20:07:12ZAn intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.1932-620310.1371/journal.pone.0252489https://doaj.org/article/b7c56afe24834aa3a174a30fad3b59122021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0252489https://doaj.org/toc/1932-6203Cross-border transactions have been more and more popular around the world. However, the current cross-border transactions still have risks and challenges, e.g., differences in regulation policies and unbalanced profits of banks. To address this critical issue, we construct a new framework for the transaction system with the support of blockchain technology. In this paper, we propose a new consortium blockchain system, namely asymmetric consortium blockchain (ACB), to ensure the implementation of cross-border transactions. Different from traditional consortium blockchain, the new blockchain system could support the supernode to regulate all the transactions timely. Furthermore, the new smart contract is designed to lower the opportunity loss for each node and make the profits allocation system fairer. In the end, the numerical experiments were carried out based on the transactions of Shenzhen and Hong Kong. The results show that the proposed ACB system is efficient to make the profit allocation fairer for the participants and keep intelligent for the new cross-border transaction system.Zhengtang FuPeiwu DongSiyao LiYanbing JuPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 6, p e0252489 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Zhengtang Fu Peiwu Dong Siyao Li Yanbing Ju An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.
description	Cross-border transactions have been more and more popular around the world. However, the current cross-border transactions still have risks and challenges, e.g., differences in regulation policies and unbalanced profits of banks. To address this critical issue, we construct a new framework for the transaction system with the support of blockchain technology. In this paper, we propose a new consortium blockchain system, namely asymmetric consortium blockchain (ACB), to ensure the implementation of cross-border transactions. Different from traditional consortium blockchain, the new blockchain system could support the supernode to regulate all the transactions timely. Furthermore, the new smart contract is designed to lower the opportunity loss for each node and make the profits allocation system fairer. In the end, the numerical experiments were carried out based on the transactions of Shenzhen and Hong Kong. The results show that the proposed ACB system is efficient to make the profit allocation fairer for the participants and keep intelligent for the new cross-border transaction system.
format	article
author	Zhengtang Fu Peiwu Dong Siyao Li Yanbing Ju
author_facet	Zhengtang Fu Peiwu Dong Siyao Li Yanbing Ju
author_sort	Zhengtang Fu
title	An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.
title_short	An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.
title_full	An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.
title_fullStr	An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.
title_full_unstemmed	An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.
title_sort	intelligent cross-border transaction system based on consortium blockchain: a case study in shenzhen, china.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/b7c56afe24834aa3a174a30fad3b5912
work_keys_str_mv	AT zhengtangfu anintelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT peiwudong anintelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT siyaoli anintelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT yanbingju anintelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT zhengtangfu intelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT peiwudong intelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT siyaoli intelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina AT yanbingju intelligentcrossbordertransactionsystembasedonconsortiumblockchainacasestudyinshenzhenchina
_version_	1718375325367271424

An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.

Ejemplares similares