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COLLEGE OF ENGINEERING PUNE

(AN AUTONOMOUS INSTITUTE OF THE GOVERNMENT OF MAHARASHTRA)

Wired and Wireless Communication

First Year M. Tech [ 2018-19 ]
Seminar Topic: Blockchain Technology
Course Instructor: Prof. A. B. Patki, Professor Emeritus, COEP

Submitted by
MIS No. :
121834005
121834009
121834014
121834015
121834017
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Abstract
The Blockchain technology aims in replacing the conventional approach of a
centralized database with the distributed ledger. It tracks the transactions from the
first step until the last step. Transparency in transactions is the highlighting feature
of Blockchain. With algorithms and technologies such as Hash, Asymmetric
encryption, Timestamp server, the Consensus mechanism, chain structure, Merkel
Tree, Scripting, Smart contracts, Peer to Peer network the Blockchain provides a
robust functionality and guarantees security of network and transparency of the
data.
The information about transactions is added in the form of blocks thus
creating a chain. The first use of Blockchain was proposed by Stuart Haber and
Scott Stornetta in the year 1991. Later its efficiency was improved by Bayer Haber
and Stornetta in the following year and a successful presentation of maintaining
documents was done. Further Satoshi Nakomoto in the year 2009 successfully
conceptualized cryptocurrency based on Blockchain.
Blockchain is an efficient solution to track the location of a transaction,
entities involved in it, validity of the entities and the security level of the
transaction. Blockchain has applications in various fields ranging from banking,
finance, land records, health, insurance etc. It can prove useful in tracking Money
laundering, Black economy, Terror funding.
The digital transactions like Net-banking, IMPS, NEFT, Mobile Wallets,
BHIM, Distribution of subsidiaries, will be benefited with the use of Blockchain.
The South Korean government has already demonstrated the use of Blockchain
technology in e-governance, land records, health sector. In the Defense Sector
Blockchain can be used to secure computer systems, to insulate potentially
vulnerable networks from cyber attacks, management of records, equipments etc.
On the other side, cyber laws have to be stringent and more focus on internet
security are the areas of further research before deploying the new technology.
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References:

1) Application of Blockchain Technology in Smart City Infrastructure,

Li Shuling Xi’an
2) Blockchain: A Game Changer for Securing IoT Data, Madhusudan
Singh, Abhiraj Singh
3) Secure IoT Communication using Blockchain Technology, Dinan
Fakhri, Kusprasapta Mutijarsa
4) Continuous security in IoT using Blockchain, Rahul Agrawal, Pratik
Verma, Rahul Sonanis, Umang Goel, Dr. Aloknath De,Sai Anirudh
Kondaveeti, Suman Shekhar
5) Blockchain Technology”, In Depth, Rajya Sabha TV