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Modeling of a Blockchain-based Cross-Border Payment System in a Secured Cloud Environment

by Festus A. Osuolale, David C. Okorie, Yetunde E. Ogunwale
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International Journal of Applied Information Systems
Foundation of Computer Science (FCS), NY, USA
Volume 12 - Number 44
Year of Publication: 2024
Authors: Festus A. Osuolale, David C. Okorie, Yetunde E. Ogunwale
10.5120/ijais2024451968

Festus A. Osuolale, David C. Okorie, Yetunde E. Ogunwale . Modeling of a Blockchain-based Cross-Border Payment System in a Secured Cloud Environment. International Journal of Applied Information Systems. 12, 44 ( May 2024), 1-9. DOI=10.5120/ijais2024451968

@article{ 10.5120/ijais2024451968,
author = { Festus A. Osuolale, David C. Okorie, Yetunde E. Ogunwale },
title = { Modeling of a Blockchain-based Cross-Border Payment System in a Secured Cloud Environment },
journal = { International Journal of Applied Information Systems },
issue_date = { May 2024 },
volume = { 12 },
number = { 44 },
month = { May },
year = { 2024 },
issn = { 2249-0868 },
pages = { 1-9 },
numpages = {9},
url = { https://www.ijais.org/archives/volume12/number44/modeling-of-a-blockchain-based-cross-border-payment-system-in-a-secured-cloud-environment/ },
doi = { 10.5120/ijais2024451968 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-05-30T21:54:12.299581+05:30
%A Festus A. Osuolale
%A David C. Okorie
%A Yetunde E. Ogunwale
%T Modeling of a Blockchain-based Cross-Border Payment System in a Secured Cloud Environment
%J International Journal of Applied Information Systems
%@ 2249-0868
%V 12
%N 44
%P 1-9
%D 2024
%I Foundation of Computer Science (FCS), NY, USA
Abstract

The traditional world of cross-border payments, plagued by delays, high fees, and lack of transparency, is facing a revolution fueled by the convergence of blockchain technology and secure cloud infrastructure. This paper proposes a novel system leveraging blockchain's distributed ledger and smart contracts to facilitate fast, transparent, and cost-effective international transactions. By harnessing the scalability and security of the cloud, the system aims to streamline cross-border payments, reduce intermediary costs, and ultimately reshape the global financial landscape, paving the way for a future of faster, cheaper, and more trustworthy transactions.

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Index Terms

Computer Science
Information Sciences
Blockchain Technology and Cross-Border Payment

Keywords

Financial Technology Hedera Blockchain Digital Ledger Technology Cloud Computing Decentralization

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