Blockchain-Based Pension System Ensuring Security, Provenance and Efficiency
Minhaz Kamal, Chowdhury Mohammad Abdullah, Fairuz Shaiara, Abu Raihan Mostofa Kamal, Md. Mehedi Hasan, Jik‐Soo Kim, Md Azam Hossain · IEICE Transactions on Information and Systems · 2023
The literature presents a digitized pension system based on a consortium blockchain, with the aim of overcoming existing pension system challenges such as multiparty collaboration, manual intervention, high turnaround time, cost transparency, auditability, etc. In addition, the adoption of hyperledger fabric and the introduction of smart contracts aim to transform multi-organizational workflow into a synchronized, automated, modular, and error-free procedure.