Secure banking and international trade digitization using blockchain

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dc.contributor.authorAlsalim, Mohammed Sabah Hameed
dc.contributor.authorUçan, Osman Nuri
dc.date.accessioned2022-12-12T08:33:47Z
dc.date.available2022-12-12T08:33:47Z
dc.date.issued2023en_US
dc.departmentEnstitüler, Lisansüstü Eğitim Enstitüsü, Elektrik ve Bilgisayar Mühendisliği Ana Bilim Dalıen_US
dc.description.abstractTraditional trade processes suffer from a great number of issues about intermediaries, information latency and trust, which, in turn, hinder overall process efficiency. The emerging blockchain technology may have potentials to mitigate those issues by revolutionizing business processes across enterprise borders in various industries. The security of smart contract technology and anti-money-laundering is utilized in tandem to combat the flaws of traditional banking. By decentralizing we can circumvent some of its defects, and achieve autonomous, fast and safe foreign goods trade. The purpose of this paper is to examine the current obstacles in letter of credit and bank transfers related to the imported foreign goods, and suggest a solution using the blockchain technology. Comparative analysis and feasibility study were conducted to identify and validate the prospects, in terms of facilitating process flow and enhancing overall trade performance, of the proposed blockchain-based international trade process model. This study contributes to the conceptual design of a blockchain- and smart-contract based process along with a provision of practical case in business process re-engineering. Further endeavors devoted to blockchain research and application across different sectors are suggested to reach better performance of business process operations.en_US
dc.identifier.citationAlsalim, M. S. H., Uçan, O. N. (2022). Secure banking and international trade digitization using blockchain. Optik, 170269.en_US
dc.identifier.issn0030-4026
dc.identifier.issn1618-1336
dc.identifier.scopus2-s2.0-85142903812
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://hdl.handle.net/20.500.12939/3089
dc.identifier.volume272en_US
dc.identifier.wosWOS:000991395000005
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorAlsalim, Mohammed Sabah Hameed
dc.institutionauthorUçan, Osman Nuri
dc.language.isoen
dc.publisherElsevier GmbHen_US
dc.relation.ispartofOptik
dc.relation.isversionof10.1016/j.ijleo.2022.170269en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - İdari Personel ve Öğrencien_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectBalance of Paymentsen_US
dc.subjectBlockchainen_US
dc.subjectDistributed Ledger Technologyen_US
dc.subjectForeign Tradeen_US
dc.subjectLetter of Crediten_US
dc.subjectSmart Contracten_US
dc.titleSecure banking and international trade digitization using blockchain
dc.typeArticle

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