Abstract
The adoption of decentralized cryptocurrency plat-forms is growing fast, thanks to the implementation of Blockchain technology and smart contracts. It encourages the novel frame-works in a wide range of applications including finance and payment methods such as cash on delivery. However, a large number of smart contracts developed for cash on delivery suffer from fraudulent transactions which enable malicious participants to break the signed contracts without sufficient penalties. A shipper will involve in the system and place a mortgage to ensure reliability. A buyer also pledges an amount of money when making the order. Our process not only ensures the interests of a seller but also prevents a fraud shipper. The penalties will be made in two scenarios: (i) the buyer refuses to receive the commodities without any reliable reasons; and (ii) the shipper attempts to make any modification on the delivered goods during transportation. To help developers create more secure and reliable cash on delivery system, we introduce double smart contracts, a framework rooted in Blockchain technology and Ethereum, to tackle those mentioned problems. We also contribute our solution as an open source software that developers can easily add to their implementation to enhance functionality.
Highlights
A basic problem for e-commerce is the exchange of digital goods for payment
Cash on Delivery (COD) allows customers to pay in cash when the products are delivered to their home or a location they choose
Other researchers [7], [8] has proposed a mechanism based on the Ethereum Blockchain [9] or Son et al has introduced a mechanism [10] based on Hyperledger Fabric flatform [11] that relates to product transportation between sellers and buyers
Summary
A basic problem for e-commerce is the exchange of digital goods for payment. The earliest solutions to this problem come from at least on the first day of the world wide web [1], e.g. online stores accept credit card payments. The seller must trust that the buyer will pay and the buyer must believe that the seller must deliver the goods This necessity for trust has been solved by introducing a third party, e.g. a credit card. Cash on Delivery (COD) allows customers to pay in cash when the products are delivered to their home or a location they choose. This is sometimes called a payment system because customers receive goods before making a payment. If the commodities are in good condition, they will send a notification to a smart contract Deposits made by both parties are only returned after successful transactions have been made, e.g. shippers successful delivered the commodities which are successfully verified by buyers. To the best of our knowledge, this novel idea is firstly investigated and implemented by the authors
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Advanced Computer Science and Applications
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
