Evolution of Industry and Blockchain Era: Monitoring Price Hike and Corruption using BIoT for Smart Government and Industry 4.0

Mohammad Kamrul Hasan, Md Akhtaruzzaman, S. Rayhan Kabir, Thippa Reddy Gadekallu, Shayla Islam, Pritheega Magalingam, Rosilah Hassan, Mamoun Alazab, Moutaz Atef Alazab

Research output: Contribution to journalArticlepeer-review

Abstract

Price Hike is one of the major problems in the world and is often called Price-Gouging. Because of rising prices, people in lower- and middle-income countries cannot afford nutritious food or proper treatment. Sometimes shops, restaurants, and transportation service providers charge more than the prescribed product price from buyers. In addition, unauthorized VAT or Tax is taken on products that the government exempts. Another reason for price hikes is bribery, and it occurs in the process of transporting and delivering goods. This study introduces a Blockchain-based Internet of Things (BIoT) model to monitor product price hikes and corruption from the industry 4.0 and Blockchain 5.0 point of view. The industrial company produces and package different products. Wholesalers and retailers purchase products from industrial companies. The main objective of this study is to establish a blockchain model for monitoring price hikes and corruption where the government can monitor buying and selling between buyers and industrial companies. Here, we have established Blockchain-Integrated Remote Database (BIRD) model where blockchain is connected with a Relational Database Management System (RDBMS) that uses Remote Database Access (RDA) protocol and Cloud Server. This paper presents the brief evolution of blockchain and industry generations. Finally, this study provides a next-generation blockchain model where a smart government connected with Industry 4.0 monitors price hikes and corruption.

Original languageEnglish
Pages (from-to)1-11
Number of pages11
JournalIEEE Transactions on Industrial Informatics
DOIs
Publication statusE-pub ahead of print - 1 Apr 2022

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