A blockchain approach to social responsibility

Abstract

As blockchain technology matures, more sophisticated solutions arise regarding complex problems. Blockchain continues to spread towards various niches such as government, IoT, energy, and environmental industries. One often overlooked opportunity for blockchain is the social responsibility sector. Presented in this paper is a permissioned blockchain model that enables enterprises to come together and cooperate to optimize their environmental and societal impacts. This is made possible through a private or permissioned blockchain. Permissioned blockchains are blockchain networks where all the participants are known and trust relationships among them can be fostered more smoothly. An example of what a permissioned blockchain would look like is described in this paper as well as its implementation, achieved using Hyperledger Fabric, which is a business-oriented blockchain framework. This study touches on the benefits available for companies that are willing to engage in socially responsible causes through blockchain. It states in what ways a permissioned blockchain can bring together businesses on common ground to increase their reach and provide better customer service. Finally, a use case is provided to bring to life a real-world situation where blockchain use improves service quality for all the parties involved, both the companies and their customers.