A Combined Model of Blockchain, Price Intelligence and IoT for Reducing the Corruption and Poverty

Abstract

Corruption of price hike is common and one of the major issues in the third world as well as in developing countries. Corruption and price hike issues are correlated with one another. A number of recent studies have been examined to establish the relationship between corruption and poverty. The people of low and middle-income countries cannot take proper medical treatment and buy nutritional food due to price hike and corruption. As a result, every year, many children and poor people have been suffering and dying from malnutrition. Blockchain is a leading technology which is prohibitive to data manipulation and an open distributed computation system where data transactions occur between two parties efficiently. Price Intelligence technology is used for price monitoring at the market level. This study presents a technological model where we have used blockchain, price intelligence and IoT approaches for monitoring the price transaction in the medical, banking and educational areas. This proposed model represents a technological architecture where different people and organizations are connected to the cloud through the internet and money transactions happened through blockchain approach. As a result, people of differing abilities and resources can detect the price hike and corruption and poor people can get priority for better service. Finally, we have suggested the potential impact of the proposed model and have explained how poor people can get better service by using this model.

Price competition and blockchain technology adoption strategies of agents on the digital platform

“…Although commodity prices will also rise, it is still profitable for agents. The reason is that the increased transparency of price information by agents can gain consumers' trust and stimulate more purchases (Akhtaruzzaman et al, 2020) high consumer trust, agents are motivated to disclose more price information. There is also an opposite phenomenon.…”