“Blockchain Framework for cyber-physical systems: Reengineering approach”

Abstract

Blockchain technology implementations are on the rise with use cases spanning almost every sector as a complete solution for the digital transfer of value. Blockchain with its inherent features like distributed data storage and immutability can be utilized to build security and reliability in Cyber Physical Systems. But questions related to Scalability and cost-effectiveness of blockchain solutions remain unanswered that raise concerns of business managers regarding its implementation. Literature review suggests that the cost of implementation of blockchain solutions is significant, hence small and medium sized enterprises (SMEs) need a reengineering approach based solution. The purpose of this study is to conceptualize a blockchain framework which is suitable for SMEs in terms of cost, development time, performance, traceability of data tampering with minimal change in existing system. This paper proposes a blockchain framework based on reengineering approach and highlights its suitability for small and medium size organizations for their Cyber Physical Systems. Finally results of implementation based on proof of concept have been discussed.