On the continuous contract verification using blockchain and real-time data

Abstract

Supply chains play today a crucial role in the success of a company’s logistics. In the last years, multiple investigations focus on incorporating new technologies to the supply chains, being Internet of Things (IoT) and blockchain two of the most recent and popular technologies applied. However, their usage has currently considerable challenges, such as transactions performance, scalability, and near real-time contract verification. In this paper we propose a model for continuous verification of contracts in supply chains using the benefits of blockchain technology and real-time data acquisition from IoT devices for early decision-making. We propose two platform independent optimization techniques (atomic transactions and grouped validation) that enhances data transactions protocol and the data storage procedure and a method for continuous verification of contracts, which allows to take corrective actions to reduce operational costs and increase benefits in current supply chains. An automatic deployment of a large scale distributed business logic system using virtualized appliances is also proposed. Evaluation results show the feasibility or the solution proposed.