Exploration of Hyperledger Besu in Designing Private Blockchain-based
Financial Distribution Systems
- URL: http://arxiv.org/abs/2311.08483v1
- Date: Tue, 14 Nov 2023 19:18:16 GMT
- Title: Exploration of Hyperledger Besu in Designing Private Blockchain-based
Financial Distribution Systems
- Authors: Md. Raisul Hasan Shahrukh, Md. Tabassinur Rahman, Nafees Mansoor
- Abstract summary: This article focuses on the development of an innovative consortium blockchain based financial distribution application.
It demonstrates the diverse applications of blockchain, ranging from remittances to lending and investments in finance to data administration in healthcare and supply chain tracking.
The investigation sheds light on the combination of consortium blockchain controlled access and Hyprledger Besu comprehensive functionality.
- Score: 0.7366405857677227
- License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
- Abstract: Blockchain, a decentralized technology that provides unrivaled security,
transparency, and process validation, is redefining the operational landscape
across numerous industries. This article focuses on the development of an
innovative consortium blockchain based financial distribution application. This
paper illuminates the transformative role of blockchain technology in a variety
of sectors by drawing on a plethora of academic literature and current industry
practices. It demonstrates the diverse applications of blockchain, ranging from
remittances to lending and investments in finance to data administration in
healthcare and supply chain tracking. The paper reveals the design and
potential of a consortium blockchain based application for financial
distribution. Utilizing the capabilities of Hyperledger Besu, the application
is tailored to improve security, scalability, and interoperability, thereby
contributing to a more integrated financial ecosystem. The investigation sheds
light on the combination of consortium blockchain controlled access and
Hyprledger Besu comprehensive functionality, proposing a secure, transparent,
and efficient financial transaction environment. The investigation serves as a
resource for academics, industry professionals, and policymakers alike,
highlighting the vast potential of blockchain technology, enabled by platforms
such as Hyperledger Besu, in accelerating the evolution of traditional systems
toward a more decentralized, secure, and efficient future.
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