Crypto Hash Algorithm-Based Blockchain Technology for Managing Decentralized Ledger Database in Oil and Gas Industry

Lukman Adewale Ajao, James Agajo, Emmanuel Adewale Adedokun and Loveth Karngong
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Lukman Adewale Ajao: Department of Computer Engineering, Federal University of Technology, Minna 920001, Nigeria
James Agajo: Department of Computer Engineering, Federal University of Technology, Minna 920001, Nigeria
Emmanuel Adewale Adedokun: Department of Computer Engineering, Ahamadu Bello University, Zaria 810241, Nigeria
Loveth Karngong: Department of Computer Engineering, Federal University of Technology, Minna 920001, Nigeria

J, 2019, vol. 2, issue 3, 1-26

Abstract: This research work proposes a method for the securing and monitoring of petroleum product distribution records in a decentralized ledger database using blockchain technology. The aim of using this technique is to secure the transaction of distributed ledgers in a database and to protect records from tampering, fraudulent activity, and corruption by the chain participants. The blockchain technology approach offers an efficient security measure and novel advantages, such as in the transaction existence and distribution ledger management between the depot, transporter, and retailing filling station. Others advantages are transparency, immunity to fraud, insusceptibility to tampering, and maintaining record order. The technique adopted for this secure distributed ledger database is crypto hash algorithm-1 (SHA-1)-based public permissioned blockchain and telematics, while this telematics approach is an embedded system integrated into an in-vehicle model for remote tracking of geolocation (using Global Positioning System (GPS)), monitoring, and far-off data acquisition in a real-time. The scope of the data in the secure distributed ledger database (using blockchain) developed are identification (ID) of the tanker operator, Depot name, Source station ID, Destination station ID, Petroleum product volume, Transporter ID, and Geographic automobiles location. This system proved to be efficient, secure, and easy to maintain as it does not permit any individual for records tampering, but supports agreement of ~75% of participants in the chain to make changes.

Keywords: blockchain; database; petroleum product; security; telematics (search for similar items in EconPapers)
JEL-codes: I1 I10 I12 I13 I14 I18 I19 (search for similar items in EconPapers)
Date: 2019
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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