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


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 Alamitos, CA
Publication date2019
Article number8622238
ISBN (Print)9781538650363
ISBN (Electronic)9781538650349, 9781538650356
Publication statusPublished - 2019
EventSixth IEEE International Conference on Big Data. IEEE BigData 2018 - The Westin Seattle, Seattle, United States
Duration: 10 Dec 201813 Dec 2018
Conference number: 6


ConferenceSixth IEEE International Conference on Big Data. IEEE BigData 2018
LocationThe Westin Seattle
Country/TerritoryUnited States
Internet address


  • Blockchain technology
  • Social business
  • Conceptual design

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