Trust the Masked Stranger: Unveiling the African Stokvel\u27s Blockchain Enticement

Blockchain technologies offer platforming services on which African stokvels can be implemented. stokvels emerged as cooperative and self-help schemes for marginalized communities in South Africa. stokvel members contributing to a blockchain-managed common fund do not have to worry about trusting their peers because transactions on a blockchain are claimed to be transparent and irrefutable. Blockchain technology’s consensus mechanism and its decentralized architecture ensure that authority is shared amongst peers, and none has monopolistic powers over the common fund. The blockchain is thus, at face value, seen as espousing the true spirit of cooperative and participative decision-making akin to African Ubuntu - the value system behind the African stokvel. This article critically analyses the superimposition of blockchain technology on African values-driven systems such as the stokvel. The paper problematizes two assumptions that are often taken for granted - that blockchain technology espouses the values of Ubuntu and that its implementation as an enabling technology for self-help financial schemes such as the African stokvel enhances the values of Ubuntu. The paper contributes to the literature that evaluates the implementation of financial technologies, particularly, blockchain technology in managing the transactions of cooperative self-help schemes in an African setup. It is argued and concluded that blockchain technology, like most other technological innovations, brings with it the comforts of Western modernity, while eroding the core values of Ubuntu such as care, pity, and empathy which are the founding values of the African stokvels. The recommendation made to African societies is to be cautious when adopting and using financial technology platforms such as blockchains as they are incompatible with African norms and probably designed to serve the profiteering agendas of technopreneurs

Data Security and Privacy on Blockchain Technology

Healthcare is an aspect that possibly to use of blockchain technology, for example for historical treatment, health insurance and patient medical records. In health services, personal health data will be recorded in the form of a blockchain. This research explains its mechanism and implementation in the healthcare field. On the other hand, this study also discussed the vulnerability caused by the mechanism that applies in the blockchain

An analysis and examination of consensus attacks in blockchain networks

This paper examines consensus attacks as they relate to blockchain networks. Consensus attacks are a significant threat to the security and integrity of blockchain networks, and understanding these attacks is crucial for developers and stakeholders. The primary contribution of the paper is to present blockchain and consensus attacks in a clear and accessible manner, with the aim of making these complex concepts easily understandable for a general audience. Using literature review, the paper identifies various methods to prevent consensus attacks, including multi-chain networks, proof-of-work consensus algorithms, and network auditing and monitoring. An analysis revealed that these methods for preventing consensus attacks are not mutually exclusive and can be used in conjunction with each other. Ultimately, the choice of which methods to implement depends on the specific needs and goals of the network being built. The paper concludes with a discussion of the implications of these findings for blockchain network development and security

Awareness of Blockchain Usage, Structure, & Generation of Platform’s Energy Consumption: Working Towards a Greener Blockchain

Blockchain is a disruptive information technology innovation with energy consumption. As more organizations look to implement or embrace blockchain innovations, research must focus on making the blockchain greener. This research explores the current innovative blockchain usage, structure, generations, and energy consumption. An energy consumption comparison for consensus protocols is provided along with a list of recommendations for implementing green blockchains. This paper provides a significant impact upon previous literature and aids organizations considering implementing a green blockchain

A Survey of Blockchain Applications in Different Domains

Blockchains have received much attention recently since they provide decentralized approaches to the creation and management of value. Many banks, Internet companies, car manufacturers, and even governments worldwide have incorporated or started considering blockchains to improve the security, scalability, and efficiency of their services. In this paper, we survey blockchain applications in different areas. These areas include cryptocurrency, healthcare, advertising, insurance, copyright protection, energy, and societal applications. Our work provides a timely summary for individuals and organizations interested in blockchains. We envision our study to motivate more blockchain applications.Comment: Published in Proceedings of the 2018 International Conference on Blockchain Technology and Application (ICBTA