Abstract
Traditional Electronic Business (E-Business) is a process of exchanging goods and services in digital form where payment is done using electronic payment system. In traditional E-Business, banks and financial institutions are used as Third Party (TP) which has many drawbacks. The proposed model is about e-business using Internet of Things (IoT), which is an advanced version of traditional E-Business model. It removes the TP and performs Peer to Peer (P2P) transactions using Blockchain (BC) technology. It contains four types of commodities: smart property (vehicle, home, flats and energy), smart share property which is also known as rented property (rented homes, rented flat and rented hotel rooms, parking spaces), shopping (clothes, domestic items) and paid data. We introduce mobile application and Near Field Communication (NFC) technology to perform communication between IoT devices to control the ownership of smart property. Experiments are performed, which give comprehensive results of proposed design. Benchmark scheme did not perform any type experiments and did not give simulation results. We enhance the benchmark model, which shows the experimental results and gives comparison between proof of work and proof of authority. Due to these reasons, proposed model is better than benchmark scheme.
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