Converging Blockchain and Social Business for Socio-Economic Development

Raghava Rao Mukkamala, Ravi Vatrapu, Pradeep Kumar Ray, Gora Sengupta, Sankar Halder

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

Abstract

In recent years, there has been a growing research attention and practitioner interest in exploring the suitability of Blockchain technology for decentralised applications in multiple domains. This paper investigates the application of Blockchain technology to address some of the key challenges faced by the domain of Social Business (SB). SB is a business model for investments in social causes for the socio-economic development of underprivileged communities. We have modelled a small example of microcredit use-case from microfinance activities of SB using a semi-formal modelling approach using Blockchain technology. We identified that the Blockchain technology provide solutions that enhance trust, transparency and auditability in SB activities. However, we have also identified challenges related to creating a native cryptocurrency for SB, and barriers to infrastructure and technology adoption by the different stakeholders in SB.
Original languageEnglish
Title of host publicationProceedings of the 2018 IEEE International Conference on Big Data
EditorsNaoki Abe, Huan Liu, Calton Pu, Xiaohua Hu, Nesreen Ahmed, Mu Qiao, Yang Song, Donald Kossmann, Bing Liu, Kisung Lee, Jiliang Tang, Jingrui He, Jeffrey Saltz
Number of pages10
Place of PublicationLos Alamos, CA
PublisherIEEE
Publication date2019
Pages3039-3048
Article number8622238
ISBN (Print)9781538650363
ISBN (Electronic)9781538650349, 9781538650356
DOIs
Publication statusPublished - 2019
Event2018 IEEE International Conference on Big Data - The Westin Seattle, Seattle, United States
Duration: 10 Dec 201813 Dec 2018
Conference number: 6
http://cci.drexel.edu/bigdata/bigdata2018/index.html

Conference

Conference2018 IEEE International Conference on Big Data
Number6
LocationThe Westin Seattle
CountryUnited States
CitySeattle
Period10/12/201813/12/2018
Internet address

Bibliographical note

CBS Library does not have access to the material

Keywords

  • Blockchain technology
  • Social business
  • Conceptual design

Cite this

Mukkamala, R. R., Vatrapu, R., Ray, P. K., Sengupta, G., & Halder, S. (2019). Converging Blockchain and Social Business for Socio-Economic Development. In N. Abe, H. Liu, C. Pu, X. Hu, N. Ahmed, M. Qiao, Y. Song, D. Kossmann, B. Liu, K. Lee, J. Tang, J. He, ... J. Saltz (Eds.), Proceedings of the 2018 IEEE International Conference on Big Data (pp. 3039-3048). [8622238] Los Alamos, CA: IEEE. https://doi.org/10.1109/BigData.2018.8622238