Blockchain for Real World Applications

12 Functional Mechanism

Blockchain can be used to create a platform that shields user identities from hacks and theft. Instead of having to generate numerous usernames and passwords, it might enable people to construct self-sovereign and encrypted digital identities.

12.1 Software Requirements

In blockchain applications, almost all of the software are open-source. However, most of these are intended to run on the Linux operating system. The most appropriate way to run these software on Windows is to use virtual machines or Docker containers, which enable such programs to run by providing a Linux environment. This does not hinder business applications in any way because financial services enterprises are already using a large number of Linux/UNIX-based servers for other applications (Garg, 2022a).

The most popular software platforms for permissioned blockchain applications are R3 Corda, an open-source platform with a commercial version, and Hyperledger Fabric, an open-source collaborative project by a group of major banks and technology giants. Due to the intrinsic constraints like Proof-of-Work, permissionless blockchains find it difficult to achieve high throughput; however, the permissioned systems do not face any difficulties on this score.

The technical elements and interfaces required for blockchain-based identity management are suggested by Garg (2022b) as follows:

• Native Android or Apple’s mobile OS that runs on an iPhone. The app may be required for the user only ...