Blockchain Technology Implementation for Enhanced Security and Transparency in Digital Platform Businesses
DOI:
https://doi.org/10.14456/nrru-rdi.2024.40Keywords:
Blockchain, Security, Transparency, Potential Impact, Digital Platform BusinessAbstract
Background and Objective: The challenges of doing business on a digital platform have led to continuous concerns for users and service providers. Therefore, this research aims to study the application of blockchain technology to enhance security and transparency in digital platform businesses.
Methology: Applied research methodology defined specific information by selecting 48 academic articles, 100 website contents, and 15 digital platform business case studies using a modified feature and potential impact data recording form from a literature review and consistent with the research objectives in collecting data using keywords based on the human-in-a-cycle modeling method combined with the “Google Keyword Planner” search optimization program to extract data from websites and using the Beautiful Soup program to analyze and process data that linked movement techniques to separate and organize data.
Results: The potential of blockchain technology through its unique features that help enhance security and transparency in digital platform businesses 8 parts, including: 4 Immutable Ledger, 6 Transparant Transactions, 2 Decentralization, 5 Smart Contracts, 6 Traceability in Supply Chain, 3 Decentralized Identity Management, 5 Consensus Mechanisms, and 2 Data Encryption. In addition, potential through specific features that do not affect the performance in part of 1) Decentralization follow the unique features of the Immutable Ledger, 2) Smart Contracts follow the unique features of the Tamper-Resistant Execution 3) Consensus Mechanisms follow the unique features of the Alignment with Platform Rules, and 4) Data Encryption follow the unique features of the Secure Storage.
Discussion: The unique characteristics of blockchain technology potential show its efficiency impact in helping to enhance the security and transparency for digital platform businesses, which has gained confidence and trust in its implementation, operation and management.
Suggestion: There should be a development of an approach to integrate the relationship of blockchain technology that still has overlap in each area to increase efficiency and reduce work costs.
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