Converging Blockchain and Social Business for Socio-Economic Development

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

doi:10.1109/BigData.2018.8622238

Converging Blockchain and Social Business for Socio-Economic Development

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

Department of Digitalization

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-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 language	English
Title of host publication	Proceedings of the 2018 IEEE International Conference on Big Data
Editors	Naoki 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 pages	10
Place of Publication	Los Alamitos, CA
Publisher	IEEE
Publication date	2019
Pages	3039-3048
Article number	8622238
ISBN (Print)	9781538650363
ISBN (Electronic)	9781538650349, 9781538650356
DOIs	https://doi.org/10.1109/BigData.2018.8622238
Publication status	Published - 2019
Event	Sixth IEEE International Conference on Big Data. IEEE BigData 2018 - The Westin Seattle, Seattle, United States Duration: 10 Dec 2018 → 13 Dec 2018 Conference number: 6 http://cci.drexel.edu/bigdata/bigdata2018/index.html

Conference

Conference	Sixth IEEE International Conference on Big Data. IEEE BigData 2018
Number	6
Location	The Westin Seattle
Country/Territory	United States
City	Seattle
Period	10/12/2018 → 13/12/2018
Internet address	http://cci.drexel.edu/bigdata/bigdata2018/index.html

Keywords

Blockchain technology
Social business
Conceptual design

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1109/BigData.2018.8622238Licence: Unspecified

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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). Article 8622238 IEEE. https://doi.org/10.1109/BigData.2018.8622238

Mukkamala, Raghava Rao ; Vatrapu, Ravi ; Ray, Pradeep Kumar et al. / Converging Blockchain and Social Business for Socio-Economic Development. Proceedings of the 2018 IEEE International Conference on Big Data. editor / Naoki 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. Los Alamitos, CA : IEEE, 2019. pp. 3039-3048

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title = "Converging Blockchain and Social Business for Socio-Economic Development",

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.",

keywords = "Blockchain technology, Social business, Conceptual design, Blockchain technology, Social business, Conceptual design",

author = "Mukkamala, {Raghava Rao} and Ravi Vatrapu and Ray, {Pradeep Kumar} and Gora Sengupta and Sankar Halder",

year = "2019",

doi = "10.1109/BigData.2018.8622238",

language = "English",

isbn = "9781538650363",

pages = "3039--3048",

editor = "Naoki Abe and Huan Liu and Calton Pu and Xiaohua Hu and Nesreen Ahmed and Mu Qiao and Yang Song and Donald Kossmann and Bing Liu and Kisung Lee and Tang, { Jiliang} and Jingrui He and Jeffrey Saltz",

booktitle = "Proceedings of the 2018 IEEE International Conference on Big Data",

publisher = "IEEE",

address = "United States",

note = "Sixth IEEE International Conference on Big Data. IEEE BigData 2018 ; Conference date: 10-12-2018 Through 13-12-2018",

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Mukkamala, RR , Vatrapu, R, Ray, PK, 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., 8622238, IEEE, Los Alamitos, CA, pp. 3039-3048, Sixth IEEE International Conference on Big Data. IEEE BigData 2018, Seattle, Washington, United States, 10/12/2018. https://doi.org/10.1109/BigData.2018.8622238

Converging Blockchain and Social Business for Socio-Economic Development. / Mukkamala, Raghava Rao ; Vatrapu, Ravi; Ray, Pradeep Kumar et al.
Proceedings of the 2018 IEEE International Conference on Big Data. ed. / Naoki 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. Los Alamitos, CA: IEEE, 2019. p. 3039-3048 8622238.

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

TY - GEN

T1 - Converging Blockchain and Social Business for Socio-Economic Development

AU - Mukkamala, Raghava Rao

AU - Vatrapu, Ravi

AU - Ray, Pradeep Kumar

AU - Sengupta, Gora

AU - Halder, Sankar

N1 - Conference code: 6

PY - 2019

Y1 - 2019

N2 - 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.

AB - 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.

KW - Blockchain technology

KW - Social business

KW - Conceptual design

KW - Blockchain technology

KW - Social business

KW - Conceptual design

U2 - 10.1109/BigData.2018.8622238

DO - 10.1109/BigData.2018.8622238

M3 - Article in proceedings

SN - 9781538650363

SP - 3039

EP - 3048

BT - Proceedings of the 2018 IEEE International Conference on Big Data

A2 - Abe, Naoki

A2 - Liu, Huan

A2 - Pu, Calton

A2 - Hu, Xiaohua

A2 - Ahmed, Nesreen

A2 - Qiao, Mu

A2 - Song, Yang

A2 - Kossmann, Donald

A2 - Liu, Bing

A2 - Lee, Kisung

A2 - Tang, Jiliang

A2 - He, Jingrui

A2 - Saltz, Jeffrey

PB - IEEE

CY - Los Alamitos, CA

T2 - Sixth IEEE International Conference on Big Data. IEEE BigData 2018

Y2 - 10 December 2018 through 13 December 2018

ER -

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