Towards a Mechanism for Protecting Seller’s Interest of Cash on Delivery by using Smart Contract in Hyperledger

In emerging economies, with the explosion of e-commerce, payment methods have increasingly enhanced security. However, Cash-on-Delivery (COD) payment method still prevails in cash-based economies. Although COD allows consumers to be more proactive in making payments, it still appears to be vulnerable by the appearance of a third party (shipping companies). In this paper, we proposed a payment system based on “smart contract” implemented on top of blockchain technology to minimize risks for parties. The platform consists of a set of rules that each party must follow including specific delivery time and place, cost of delivery, mortgage money; thereby, forcing parties to be responsible for their tasks in order to complete the contract. We also provided a detailed implementation to illustrate the efficiency of our model.

@article{Son2019,
  title     = {Towards a Mechanism for Protecting Seller’s Interest of Cash on Delivery by using Smart Contract in Hyperledger},
  journal   = {International Journal of Advanced Computer Science and Applications},
  volume    = {10},
  number    = {4},
  year      = {2019},
  publisher = {The Science and Information Organization},
  author    = {Ha Xuan Son and Minh Hoang Nguyen and Nguyen Ngoc Phien and Hai Trieu Le and Quoc Nghiep Nguyen and Van Dai Dinh and Phu Thinh Tru and Phuc Nguyen},
  doi       = {10.14569/IJACSA.2019.0100405},
  url       = {https://doi.org/10.14569/IJACSA.2019.0100405}
}