Crypto Hash Algorithm-Based Blockchain Technology for Managing Decentralized Ledger Database in Oil and Gas Industry

Abstract

This research work proposes a method for the securing and monitoring of petroleum product distribution records in a decentralized ledger database using blockchain technology. The aim of using this technique is to secure the transaction of distributed ledgers in a database and to protect records from tampering, fraudulent activity, and corruption by the chain participants. The blockchain technology approach offers an efficient security measure and novel advantages, such as in the transaction existence and distribution ledger management between the depot, transporter, and retailing filling station. Others advantages are transparency, immunity to fraud, insusceptibility to tampering, and maintaining record order. The technique adopted for this secure distributed ledger database is crypto hash algorithm-1 (SHA-1)-based public permissioned blockchain and telematics, while this telematics approach is an embedded system integrated into an in-vehicle model for remote tracking of geolocation (using Global Positioning System (GPS)), monitoring, and far-off data acquisition in a real-time. The scope of the data in the secure distributed ledger database (using blockchain) developed are identification (ID) of the tanker operator, Depot name, Source station ID, Destination station ID, Petroleum product volume, Transporter ID, and Geographic automobiles location. This system proved to be efficient, secure, and easy to maintain as it does not permit any individual for records tampering, but supports agreement of ~75% of participants in the chain to make changes.

Towards an Architecture-based Ensemble Methods for Online Social Network Sensitive Data Privacy Protection

“…Though, there was a quick increase of throughput at 10 transaction per block, increase of performance was observed to diminish. The maximum throughput of 350 transactions per second plots around 100 transactions per block and thus did not exceed the recommended block size, generation, and mining time, which is consistent with highlighted requirements in [47,52,53]. The same pattern of using more time for more transactions that is found in the literature [46,51] can be observed in Figures 4 and 5.…”

“…Since execution time is the time required for a method like the one presented in this paper to execute a transaction after adding one successfully [46], the result in Figures 4 and 5 is consistent with what obtains in the literature [46,51] and highlight a good consensus provision. It can be inferred based on the provisions in [52] that the proposed method would show capability in respect of supporting agreement up to approximately 75% regarding making changes by participants in the chain. This is a good performance and consistent with the behaviour described of Hyperledger-based model solutions [46,48,51,52,53].…”

“…It can be inferred based on the provisions in [52] that the proposed method would show capability in respect of supporting agreement up to approximately 75% regarding making changes by participants in the chain. This is a good performance and consistent with the behaviour described of Hyperledger-based model solutions [46,48,51,52,53].…”

Modern Cryptographic Tools for Doing Business

“…We propose an algorithm based on the analysis of the following works by scientists such as: Ed. Tijan (Agajo et al, 2019). To implement cryptographic technologies in business processes, the following work algorithm is proposed: a) Set a goal.…”

A Utilização De Blockchain Para Controle Da Cadeia De Distribuição De Combustíveis Derivados: Proposta De Modelo De Negócio

“…• Rastreamento do transporte: Todas as informações referentes ao transporte podem ser rastreadas por tecnologia embarcada nos caminhões, compartilhada via GPS em tempo real e podem ser incluídas na blockchain. Desta maneira, quaisquer desvios de rota ou paradas inesperadas, ou alteração dos parâmetros dos produtos poderão ser rastreadas, conforme proposto por Ajao et al (2019).…”