Building a decentralized industrial alliance with the information system empowered by blockchain
The traditional industrial chain consists of a group of entities that are familiar with each other, and the relationship between the entities is maintained by signing contracts. However, on the one hand, the inability to reach mutual trust between unfamiliar entities limits the collaboration of enti...
| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2023-07-01
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| Series: | Journal of King Saud University: Computer and Information Sciences |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S1319157823001350 |
| _version_ | 1797749206287384576 |
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| author | Gaoyong Han Zhiyong Feng Shizhan Chen Xiao Xue Hongyue Wu Zongju Yang Hongqi Chen |
| author_facet | Gaoyong Han Zhiyong Feng Shizhan Chen Xiao Xue Hongyue Wu Zongju Yang Hongqi Chen |
| author_sort | Gaoyong Han |
| collection | DOAJ |
| description | The traditional industrial chain consists of a group of entities that are familiar with each other, and the relationship between the entities is maintained by signing contracts. However, on the one hand, the inability to reach mutual trust between unfamiliar entities limits the collaboration of entities, and on the other hand, most of the profits in the industrial chain are grabbed by the dominant enterprises. In this paper, an information system for collaboration among business entities is developed based on blockchain, based on which a business model called Decentralized Industry Alliance (DIA) is proposed. Transactions and profit distribution in the DIA are executed by smart contracts, which enables unfamiliar entities to trust each other without relying on a third party. Any entity that voluntarily complies with the smart contracts automatically becomes a member of the DIA, thereby promoting the expansion of the industry scale. The smart contracts distribute profits according to each entity’s contribution to the alliance, so as to ensure the fairness of value distribution. A case about the alliance of elderly care industry is carried out, which shows that the DIA achieves rapid expansion on the premise of ensuring fairness. As a general business model in the web 3.0 era, the DIA can be referenced by other industries. |
| first_indexed | 2024-03-12T16:15:54Z |
| format | Article |
| id | doaj.art-e2b013bc5ec94af693c529c9b7f65112 |
| institution | Directory Open Access Journal |
| issn | 1319-1578 |
| language | English |
| last_indexed | 2024-03-12T16:15:54Z |
| publishDate | 2023-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of King Saud University: Computer and Information Sciences |
| spelling | doaj.art-e2b013bc5ec94af693c529c9b7f651122023-08-09T04:32:00ZengElsevierJournal of King Saud University: Computer and Information Sciences1319-15782023-07-01357101581Building a decentralized industrial alliance with the information system empowered by blockchainGaoyong Han0Zhiyong Feng1Shizhan Chen2Xiao Xue3Hongyue Wu4Zongju Yang5Hongqi Chen6College of Intelligence and Computing, Tianjin University, Tianjin 300350, ChinaCollege of Intelligence and Computing, Tianjin University, Tianjin 300350, ChinaCollege of Intelligence and Computing, Tianjin University, Tianjin 300350, China; Corresponding author.College of Intelligence and Computing, Tianjin University, Tianjin 300350, ChinaCollege of Intelligence and Computing, Tianjin University, Tianjin 300350, ChinaSchool of Instrumentation Science and Engineering, Harbin Institute of Technology, Harbin 150001, ChinaCollege of Intelligence and Computing, Tianjin University, Tianjin 300350, ChinaThe traditional industrial chain consists of a group of entities that are familiar with each other, and the relationship between the entities is maintained by signing contracts. However, on the one hand, the inability to reach mutual trust between unfamiliar entities limits the collaboration of entities, and on the other hand, most of the profits in the industrial chain are grabbed by the dominant enterprises. In this paper, an information system for collaboration among business entities is developed based on blockchain, based on which a business model called Decentralized Industry Alliance (DIA) is proposed. Transactions and profit distribution in the DIA are executed by smart contracts, which enables unfamiliar entities to trust each other without relying on a third party. Any entity that voluntarily complies with the smart contracts automatically becomes a member of the DIA, thereby promoting the expansion of the industry scale. The smart contracts distribute profits according to each entity’s contribution to the alliance, so as to ensure the fairness of value distribution. A case about the alliance of elderly care industry is carried out, which shows that the DIA achieves rapid expansion on the premise of ensuring fairness. As a general business model in the web 3.0 era, the DIA can be referenced by other industries.http://www.sciencedirect.com/science/article/pii/S1319157823001350Decentralized industry allianceInformation systemBlockchain |
| spellingShingle | Gaoyong Han Zhiyong Feng Shizhan Chen Xiao Xue Hongyue Wu Zongju Yang Hongqi Chen Building a decentralized industrial alliance with the information system empowered by blockchain Journal of King Saud University: Computer and Information Sciences Decentralized industry alliance Information system Blockchain |
| title | Building a decentralized industrial alliance with the information system empowered by blockchain |
| title_full | Building a decentralized industrial alliance with the information system empowered by blockchain |
| title_fullStr | Building a decentralized industrial alliance with the information system empowered by blockchain |
| title_full_unstemmed | Building a decentralized industrial alliance with the information system empowered by blockchain |
| title_short | Building a decentralized industrial alliance with the information system empowered by blockchain |
| title_sort | building a decentralized industrial alliance with the information system empowered by blockchain |
| topic | Decentralized industry alliance Information system Blockchain |
| url | http://www.sciencedirect.com/science/article/pii/S1319157823001350 |
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