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BBCT: A Smart Blockchain-Based Bulk Commodity Trade System

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Smart Computing and Communication (SmartCom 2021)

Part of the book series: Lecture Notes in Computer Science ((LNCS,volume 13202))

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Abstract

The bulk commodity is a major strategic resource of the country, and related trade markets are booming. However, due to channel isolation and information barriers, the trade platforms also have risks and industry chaos, which make the bulk commodity trade process suffer from information asymmetry, difficulty in choosing a suitable commodity, difficulty in commodity pricing, and lack of trust in the trade platform. To cope with these challenges, we propose BBCT, a Blockchain-based Bulk Commodity Trade system, to achieve credible and fair bulk commodity trade. The process of multi-party trade is divided into four stages: matching, negotiation based on time-constrained Bayesian learning, decision-making based on the technique for order preference by similarity to ideal solution and signing. We design a “negotiation-signing” dual-channel blockchain architecture, so that buyers and sellers can complete the negotiation and signing process coordination on the blockchain. We finally verify the efficiency and reliability of BBCT through experiments.

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Acknowledgment

The work of this paper is supported by the National Key Research and Development Program of China (2019YFB1405000), National Natural Science Foundation of China under Grant (No. 92046024, 61873309), and Shanghai Science and Technology Innovation Action Plan Project under Grant (No. 19510710500, and No. 18510732000).

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Authors and Affiliations

  1. School of Computer Science, Fudan University, Shanghai, 200433, China

    Jian Yang, Yawen Lu, Zhihui Lu & Jie Wu

  2. Shanghai Blockchain Engineering Research Center, Shanghai, 200433, China

    Zhihui Lu

  3. Peng Cheng Laboratory, Shenzhen, 518055, China

    Jie Wu

  4. Educational Information Technology Laboratory, Henan University, Kaifeng, China

    Hui Zhao

Authors
  1. Jian Yang
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  2. Yawen Lu
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  3. Zhihui Lu
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  4. Jie Wu
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  5. Hui Zhao
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Corresponding author

Correspondence to Jian Yang .

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Editors and Affiliations

  1. Texas A&M University-Commerce, Commerce, TX, USA

    Meikang Qiu

  2. Beijing Institute of Technology, Beijing, Beijing, China

    Keke Gai

  3. Tsinghua University, Beijing, China

    Han Qiu

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Yang, J., Lu, Y., Lu, Z., Wu, J., Zhao, H. (2022). BBCT: A Smart Blockchain-Based Bulk Commodity Trade System. In: Qiu, M., Gai, K., Qiu, H. (eds) Smart Computing and Communication. SmartCom 2021. Lecture Notes in Computer Science, vol 13202. Springer, Cham. https://doi.org/10.1007/978-3-030-97774-0_17

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  • DOI: https://doi.org/10.1007/978-3-030-97774-0_17

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  • Print ISBN: 978-3-030-97773-3

  • Online ISBN: 978-3-030-97774-0

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