CHAINGE: A Blockchain Solution to Automate Payment Detail Updates to Subscription Services
The rise of the subscription-based business model has led to a corresponding increase in the number of subscriptions where a customer needs to manage their payments. This management of payments for multiple subscriptions has become a very complicated and insecure task for customers, especially when it comes to renewing payment details when the card is lost, stolen, or expires. In addition, this, mostly manual, process is vulnerable to human error, digital frauds, and data breaches, according to security reports. Thus, in this paper, we propose a novel approach to automate, manage and simplify the Financial Supply Chain involved in the process of updating and managing payments to user subscriptions. This is done by utilising the Hyperledger Sawtooth blockchain framework, that allows a consumer to enter their payment card details in a central digital wallet and link their subscriptions to their cards. The card being updated triggers an event on the blockchain, which allow for the payment details to be updated on subscription systems automatically. The verification tests performed on the prototype of the proposed system shows that its current implementation has been securely achieved.
Code (0)
등록된 구현이 없습니다.
Tasks
ManagementSimilar Papers 제목 키워드 기반
Construction Payment Automation Using Blockchain-Enabled Smart Contracts and Reality Capture Technologies
This paper presents a smart contract-based solution for autonomous administration of construction progress payments. It bridges the gap between payments (cash flow) and the progress assessments at job sites (product flow…
ManagementMeasuring the Impact of Blockchain and Smart Contract on Construction Supply Chain Visibility
This work assesses the impact of blockchain and smart contract on the visibility of construction supply chain and in the context of payments (intersection of cash and product flows). It uses comparative empirical experim…
Decentralized Payment Clearing using Blockchain and Optimal Bidding
In this paper, we construct a decentralized clearing mechanism which endogenously and automatically provides a claims resolution procedure. This mechanism can be used to clear a network of obligations through blockchain.…
Proof-of-Useful-Work as Dual-Purpose Mechanism for Blockchain and AI: Blockchain Consensus that Enables Privacy Preserving Data Mining
Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging proble…
Privacy PreservingBlockchain: Data Malls, Coin Economies and Keyless Payments
We discuss several uses of blockchain (and, more generally, distributed ledger) technologies outside of cryptocurrencies with a pragmatic view. We mostly focus on three areas: the role of coin economies for what we refer…