Fortis-ámyna-smart contract model for cross border financial transactions
A Futuristic Operating transactions Reaching beyond Territorial borders In blockchain Smart contract model (Fortis-ámyna) for cross border transactions in a quantum setting is proposed. A simple hybrid classical-quantum model has been described whose main ingredients are a classical blockchain capab...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2021-09-01
|
| Series: | ICT Express |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405959521000965 |
| _version_ | 1819137901946994688 |
|---|---|
| author | Kommu Narendra G. Aghila |
| author_facet | Kommu Narendra G. Aghila |
| author_sort | Kommu Narendra |
| collection | DOAJ |
| description | A Futuristic Operating transactions Reaching beyond Territorial borders In blockchain Smart contract model (Fortis-ámyna) for cross border transactions in a quantum setting is proposed. A simple hybrid classical-quantum model has been described whose main ingredients are a classical blockchain capable of handling stateful smart contracts with quantum defence. This hybrid payment model uses quantum states as bank transactions and a classical blockchain to settle disputes and keep track of the valid reference numbers. The proposed model fortis ámyna has several desirable properties like de-centralized, requiring no trust in any single entity; Quick payments as quantum communication, regardless of the total number of users to speed up the transactions. In addition, fortis ámyna handles the situation in lighting speed in quantum bank-transaction if failed or has error due to connectivity, helping the initiator to track back the transaction from origin. This fortis ámyna model has tremendous advantages regarding speed, security, and authentication, guarding against quantum breaches. Ensuring more authenticity to customers and creating by linking a Distinct (De-Centralized) Identifier with blockchain’s current transaction state eventually leads to the updated digital ledger. |
| first_indexed | 2024-12-22T10:58:15Z |
| format | Article |
| id | doaj.art-21ff89aa9d514d069f3670706956ac7b |
| institution | Directory Open Access Journal |
| issn | 2405-9595 |
| language | English |
| last_indexed | 2024-12-22T10:58:15Z |
| publishDate | 2021-09-01 |
| publisher | Elsevier |
| record_format | Article |
| series | ICT Express |
| spelling | doaj.art-21ff89aa9d514d069f3670706956ac7b2022-12-21T18:28:34ZengElsevierICT Express2405-95952021-09-0173269273Fortis-ámyna-smart contract model for cross border financial transactionsKommu Narendra0G. Aghila1Corresponding author.; Department of Computer Science and Engineering, National Institute of Technology Puducherry, Karaikal, IndiaDepartment of Computer Science and Engineering, National Institute of Technology Puducherry, Karaikal, IndiaA Futuristic Operating transactions Reaching beyond Territorial borders In blockchain Smart contract model (Fortis-ámyna) for cross border transactions in a quantum setting is proposed. A simple hybrid classical-quantum model has been described whose main ingredients are a classical blockchain capable of handling stateful smart contracts with quantum defence. This hybrid payment model uses quantum states as bank transactions and a classical blockchain to settle disputes and keep track of the valid reference numbers. The proposed model fortis ámyna has several desirable properties like de-centralized, requiring no trust in any single entity; Quick payments as quantum communication, regardless of the total number of users to speed up the transactions. In addition, fortis ámyna handles the situation in lighting speed in quantum bank-transaction if failed or has error due to connectivity, helping the initiator to track back the transaction from origin. This fortis ámyna model has tremendous advantages regarding speed, security, and authentication, guarding against quantum breaches. Ensuring more authenticity to customers and creating by linking a Distinct (De-Centralized) Identifier with blockchain’s current transaction state eventually leads to the updated digital ledger.http://www.sciencedirect.com/science/article/pii/S2405959521000965BlockchainCross border transactionsSmart contractQuantum cryptography |
| spellingShingle | Kommu Narendra G. Aghila Fortis-ámyna-smart contract model for cross border financial transactions ICT Express Blockchain Cross border transactions Smart contract Quantum cryptography |
| title | Fortis-ámyna-smart contract model for cross border financial transactions |
| title_full | Fortis-ámyna-smart contract model for cross border financial transactions |
| title_fullStr | Fortis-ámyna-smart contract model for cross border financial transactions |
| title_full_unstemmed | Fortis-ámyna-smart contract model for cross border financial transactions |
| title_short | Fortis-ámyna-smart contract model for cross border financial transactions |
| title_sort | fortis amyna smart contract model for cross border financial transactions |
| topic | Blockchain Cross border transactions Smart contract Quantum cryptography |
| url | http://www.sciencedirect.com/science/article/pii/S2405959521000965 |
| work_keys_str_mv | AT kommunarendra fortisamynasmartcontractmodelforcrossborderfinancialtransactions AT gaghila fortisamynasmartcontractmodelforcrossborderfinancialtransactions |