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Blockchain for I ndustry 4.0 This reference text provides the theoretical foundations, the emergence, and the application areas of blockchain in an easy-to-understand manner that would be highly helpful for researchers, academicians, and industry professionals to understand the disruptive potential of blockchain. It explains blockchain concepts related to Industry 4.0, smart healthcare, and Internet of Things (IoT) and explores smart contracts and consensus algorithms. This book will serve as an ideal reference text for graduate students and academic researchers in electrical engineering, electronics and communication engineering, computer engineering, and information technology. This book • Discusses applications of blockchain technology in diverse sectors such as Industry 4.0, education, finance, and supply chain. • Provides theoretical concepts, applications, and research advancements in the field of blockchain. • Covers the Industry 4.0 digitization platform and blockchain for data management in Industry 4.0 in a comprehensive manner. • Emphasizes analysis and design of consensus algorithms, fault toler- ance, and strategies to choose the correct consensus algorithm. • Introduces security issues in the industrial IoT, IoT, blockchain inte- gration, and blockchain-based applications. The text presents in-depth coverage of theoretical concepts, applications, and advances in the field of blockchain technology. This book will be an ideal reference for graduate students and academic researchers in diverse engineering fields such as electrical, electronics and communication, computer, and information technology. Computational Methods for Industrial Applications Series Editor: Bharat Bhushan In today’s world, IoT platforms and processes in conjunction with the disruptive blockchain technology and path-breaking artificial intelligence (AI) algorithms lay out a sparking and stimulating foundation for sustain- ing smarter systems. Further computational intelligence (CI) has gained enormous interest from various quarters in order to solve numerous real- world problems and enable intelligent behavior in changing and complex environments. This book series focuses on varied computational methods incorporated within the system with the help of AI, learning methods, ana- lytical reasoning, and sense making in big data. Aimed at graduate students, academic researchers, and professionals, the proposed series will cover the most efficient and innovative technological solutions for industrial applications and sustainable smart societies in order to alter green power management, effects of carbon emissions, air quality metrics, industrial pollution levels, biodiversity, and ecology. Blockchain for Industry 4.0: Emergence, Challenges, and Opportunities Anoop V. S., Asharaf S., Justin Goldston, and Samson Williams Intelligent Systems and Machine Learning for Industry: Advancements, Challenges, and Practices P.R Anisha, C. Kishor Kumar Reddy, Nguyen Gia Nhu, Megha Bhushan, Ashok Kumar, and Marlia Mohd Hanafiah Blockchain for I ndustry 4.0 Emergence, Challenges, and Opportunities Edited by Anoop V. S., Asharaf S., Justin Goldston, and Samson Williams First edition published 2023 by CRC Press 6000 Broken Sound Parkway NW, Suite 300, Boca Raton, FL 33487-2742 and by CRC Press 4 Park Square, Milton Park, Abingdon, Oxon, OX14 4RN CRC Press is an imprint of Taylor & Francis Group, LLC © 2023 selection and editorial matter, Anoop V. S., Asharaf S., Justin Goldston, and Samson Williams; individual chapters, the contributors. Reasonable efforts have been made to publish reliable data and information, but the author and publisher cannot assume responsibility for the validity of all materials or the consequences of their use. The authors and publishers have attempted to trace the copyright holders of all material reproduced in this publication and apologize to copyright holders if permission to publish in this form has not been obtained. If any copyright material has not been acknowledged, please write and let us know, so we may rectify in any future reprint. Except as permitted under U.S. Copyright Law, no part of this book may be reprinted, reproduced, transmitted, or utilized in any form by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying, microfilming, and recording, or in any i nformation storage or retrieval system, without written permission from the publishers. For permission to photocopy or use material electronically from this work, access www. copyright.com or contact the Copyright Clearance Center, Inc. (CCC), 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400. For works that are not available on CCC, please contact [email protected] Trademark notice: Product or corporate names may be trademarks or registered trademarks and are used only for identification and explanation without intent to infringe. Library of Congress CataloginginPublication Data Names: S., Anoop V., editor. Title: Blockchain for industry 4.0 : emergence, challenges, and opportunities / edited by Anoop V. S., Asharaf S., Justin Goldston and Samson Williams. Description: First edition. | Boca Raton, FL : CRC Press, 2023. | Series: Computational methods for industrial applications | Includes bibliographical references and index. Identifiers: LCCN 2022030561 (print) | LCCN 2022030562 (ebook) | ISBN 9781032253664 (hbk) | ISBN 9781032253695 (pbk) | ISBN 9781003282914 (ebk) Subjects: LCSH: Blockchains (Databases)–Industrial applications. | Industry 4.0. Classification: LCC QA76.9.B56 B553 2023 (print) | LCC QA76.9.B56 (ebook) | DDC 005.74-dc23/eng/20220830 LC record available at https://lccn.loc.gov/2022030561 LC ebook record available at https://lccn.loc.gov/2022030562 ISBN: 9781032253664 (hbk) ISBN: 9781032253695 (pbk) ISBN: 9781003282914 (ebk) DOI: 10.1201/9781003282914 Typeset in Sabon by codeMantra Contents Preface vii Editors ix Contributors xiii 1 The rise of blockchain technology in healthcare for the preservation of patient-centric health records 1 BILAL AHMED MIR, SICHENG LIU, ZHEN LI, SHUGUFTA ABRAHIM WANI, TANVEER A. MIR, YUSERA FAROOQ KHAN, SHADIL IBRAHIM WANI, MASAYOSHI FUKUSHIMA, AND TAKUTO YAMAGUCHI 2 Industry 4.0 cross-domain blockchain solutions in healthcare: Trends and clinical considerations 23 USHARANI HAREESH GOVINDARAJAN, GAGAN NARANG, NIKOLA ZIVLAK, AND VINAY SURENDRA YADAV 3 Blockchain in banking and financial services 45 HIMANSHU FALWADIYA, SANJAY DHINGRA, AND SHELLY GUPTA 4 Safeguarding blockchains from adversarial tactics 63 ALEX NEELANKAVIL DEVASSY AND DHANITH KRISHNA 5 Problems with the implementation of blockchain technology for decentralized IoT authentication: A literature review 91 VIJAY ANANT ATHAVALE AND ANKIT BANSAL 6 Blockchain – Foundational infrastructure for Web 3.0 and cryptoassets 121 ASHUTOSH DUBEY, DEEPNARAYAN TIWARI, AND ANJALI TIWARI v vi Contents 7 Applications of blockchain technology for sustainable education 143 FRANKLIN JOHN AND NIKHIL V. CHANDRAN 8 Blockchain technology in banking and financial services sector in india 161 SWARAJ M. 9 Legal dimensions of blockchain technology 175 RENUKA V. AND SHANMUGHAM D. JAYAN 10 Blockchain for securing the IoT-based smart wireless surveillance cameras 191 AURANGJEB KHAN AND JAYANTHI M. 11 Central bank digital currency 215 VIDYASHANKAR RAMALINGAM 12 Blockchain technology in disaster management: A high-level overview and future research dimensions 229 SREELAKSHMI S. AND VINOD CHANDRA S. S. 13 Interoperable blockchain systems 245 RADHA SRIDHARAN AND MANJU SADASIVAN 14 Blockchain for industry 4.0: Overview and foundation of the technology 267 MEGHA GUPTA AND SUHASINI VERMA 15 Enabling cross-border trade in the face of regulatory barriers to data flow – the case of the blockchain-based service network 285 SHOUFENG CAO, XAVIER BOYEN, FELICITY DEANE, THOMAS MILLER, AND MARCUS FOTH Index 305 Preface Blockchain, a distributed ledger management infrastructure where blocks of transactional data are hash chained for immutability to establish trust for enabling the digital currency Bitcoin, has recently emerged as a disruptive technology with many real-world applications demanding trusted data management. Such a blockchain infrastructure on clusters of computers providing decentralized data management is now believed to have the capa- bility to move the notion of trust from trusted institutional mechanisms to mathematically provable technology infrastructure. Since trust in data is the key to the management for establishing relationships between businesses, government, and people, blockchain can definitely bring disruptions in a vast array of domains and sectors. Due to this disruptive nature, blockchain technology is getting a great deal of attention from industries and businesses which are vying with each other to incorporate this immutable, shared, and tamper-proof ledger mechanism into their business models. There are widespread opinions that claim blockchain just as hype, but very recently, we have witnessed the business adoption graphs going high. Some of the industry and business giants have already implemented this distributed ledger technology in their mainstream business modules to ensure the credibility of transactions for their stakeholders. The scope of this proposed edited book is to discuss the theoretical foundations, the emergence, and the application areas of blockchain in an easy-to-understand manner that would be highly helpful for researchers, academicians, and industry professionals to understand the disruptive potentials of blockchain. This book provides the theoretical concepts, empirical studies, and detailed overview of various aspects related to the development of blockchain applications from a reliable, trusted, and secure data transmission perspective. Further, it also intends to induce further research about the ethical impact of the new “distributed trust” paradigm resulting from the surge of such a disruptive technology. vii Editors Anoop V. S. is a Postdoctoral Fellow at Smith School of Business, Queen’s University, Ontario, Canada. Previously, he worked as a Senior Scientist (Research and Training) at Kerala Blockchain Academy, Kerala University of Digital Sciences, Innovation, and Technology, Thiruvananthapuram, India. He received his Doctor of Philosophy (PhD) and Master of Philosophy (MPhil) from Cochin University of Science and Technology (CUSAT), Kerala. He has also worked as a Senior AI Data Scientist with Dubai Future Accelerator for implementing AI solutions for Etisalat and Etihad Airways. He is an experienced software engineer with more than 5 years of experience working with US-based multi-national com- panies in Technopark, Thiruvananthapuram. He has completed several industry internships in data science and AI that helped him implement intelligent algorithms for many organizations to solve their complex business problems. He has over 10 years of overall experience in teach- ing, research, and industry. His research interests are in text mining, natural language processing, computational social sciences, and blockchain. He has published papers in journals of national and international repute, book chapters, and conference proceedings in major venues of AI and knowledge management. Asharaf S. is a computer engineer/scientist with extensive exposure in algorithms for machine learning. In addition to his current role as a Dean (R&D) and Professor at Kerala University of Digital Sciences, Innovation, and Technology, he also serves as a visiting faculty for MDP programs at the Indian Institute of Management Kozhikode and as a Mentor in Kerala Startup Mission. He received his PhD and Master of Engineering degrees in Computer Science from the Indian Institute of Science, Bangalore. He graduated in Computer Engineering from Cochin University of Science and Technology. After B.Tech, he has worked as a lecturer at T.K.M. College of Engineering, Kollam, and after PhD, he has worked as a Research Scientist at America Online (AOL) R&D Labs and as an Assistant Professor at the Indian Institute of Management Kozhikode. He is a recipient of IBM outstanding PhD student award ix