Use of Smart Contracts and Distributed Ledger for Automation

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Author(s): Abhishek Kumar Gautam (Indian Institute of Management, Shillong, India)and Nitin Nitin (Indian Institute of Management, Shillong, India)
Copyright: 2021
Pages: 33
Source title: Opportunities and Challenges for Blockchain Technology in Autonomous Vehicles
Source Author(s)/Editor(s): Amit Kumar Tyagi (Research Division of Advanced Data Science, Vellore Institute of Technolgy, Chennai, India), Gillala Rekha (K. L. University, India)and N. Sreenath (Pondicherry Engineering College, India)
DOI: 10.4018/978-1-7998-3295-9.ch014

Keywords: Cryptography / Data Mining and Databases / Information Science Reference / Security & Forensics

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Abstract

Blockchain as a service has evolved significantly from where it started as an underlying technology for Bitcoin cryptocurrency when introduced in 2008. Realization of the immense opportunities this technology possesses encouraged the development of several other Blockchain solutions such as Ethereum, which focused more on the unique competencies much beyond just the digital currency. In this chapter, the authors provided insights into the unmatchable capabilities of Blockchain to evade cyber-attacks that can facilitate a much-needed push for the scalable operation of autonomous vehicles by providing a safer and trustable ecosystem through smart contracts. The chapter also discusses the integration of Ethereum Blockchain with Confidential Consortium Framework (CFF) to overcome the shortcomings of Blockchain in terms of speed and volume. Towards the end, they talked about some of the modern technologies such as IoT and AI that can be benefitted by Blockchain.

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Use of Smart Contracts and Distributed Ledger for Automation

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