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I.J.EducationandManagementEngineering,2018,3,1-13PublishedOnlineMay2018inMECS()DOI:10.5815/ijeme.2018.03.01Availableonlineat:15January2018;Accepted:11April2018;Published:08May2018AbstractInthefinancialsystemsofthemodernera,trusthasalwaysbeenamissingentity;concentrationsofpowerandtrusthavegivenbirthtonumerousbreakdowns.Toresolvetheproblemsatthisend,thepaperattemptsforasolutionusingBlockchains,adatastructurethatallowsforthecreationofcrypticallysecureddistributedtamperproofledgers.Thepaperdiscussesthedatastructureandfurtherdissertsonthecasestudyinconsideration.IndexTerms:Blockchain,DistributedDatabase,MerkleHash,Ledger.©2018PublishedbyMECSPublisher.Selectionand/orpeerreviewunderresponsibilityoftheResearchAssociationofModernEducationandComputerScience.1.IntroductionPostthe2008financialcrisis,theworldcametosomesparklingrevelationsintheworldoffinance,business,economicsandpolitics[1].Oneofthefundamentalonesofthosewasthefailureofthetrustsysteminbanking.ThefallofthegiantslikeLehmanBrothers[2]andthecessationoftheFannieMaesandFreddieMacs[3]oftheworldsimplyerodedtheconceptthat‘bankscanbetrustedwithpublicmoney’.Thecrisiswarrantsthequestion:howcantrustberebornintofinancialsystems?Howcanorganizationsmanagedecentralizedledgers?Howcanpowerberedistributedamongstakeholdersinanequableproportion?Theanswertothequestionhasbeentriedoutinthepastindifferentways(stakeholdercollaborations,boardsofdirectors,fiduciarysystems,audits,etc.)howeverallofthemhaveresultedinmajororminorfailures.Attheadventofthiseraofdata,thedatastructurenamed‘blockchains’[4,5]comesoutasapromiseworthyattempt*Correspondingauthor.E-mailaddress:diptipawade@somaiya.edu2DistributedLedgerManagementforanOrganizationusingBlockchainsatsolvingthequestionoftrust.ThearchitecturewhichpowerstheBitcoin[6,7],world’sfirstpubliccurrencycanalsobeusedtocreateapplicationswhichdistributetrustwithinorganizations.Thispaperattemptstodiscusssuchmethodsandapproachesofusingblockchainstocreatetrustandinvigorateresiliencewithinsystemsatlarge.Startingwithadetailedreviewoftechnology,thepaperdiscusseslateralexperimentationswithblockchainsovertheworld,andfurthermajorlyfocusesonoureffortstoimplementblockchainsatanassetmanagementfirmbasedoutofMumbai,India(SacredCapitalPvt.Ltd.:)usingacasebasedapproach.Thepaperconcludeswithpropositionsforfutureimplementationswithinourscopeinthecurrentdevelopmentprojectunderway.2.BlockchainasaDataStructureanditsAssociatedMeritsAsaprerequisitetounderstandtheapplicationsoftheblockchaintechnology,itshallbenecessarytodivulgeonthetechnicalaspectsofhowthistechnologyworksatthebottomlayer.Blockchainsarebasicallyasetofinterconnecteddistributedledgers[8].Incaseofthedistributedsystem;connectingandmanagingheterogeneoussystemmaycreateissueswhilemaintainingthedata[9].Butblockchainensuresthatretroactivetamperingwillnotoccurwithinthedatasets.Thisfeatureisfacilitatedasafundamentalcharacteristicofthedatastructureitself.Forthispurpose,theblockchainworksonthesystemofblocks:afixedsizecollectionoftransactionentries.Asthetimeprogresses,multipleblocksstartgettingaddedtotheblockchainsubjecttotheirvalidatedverification.Asetofnodescalledminersconnectedinapeer-to-peernetworkpossessacopyofalltheblocksrightfromthegenesisblock(firstblockinthechain).Transactionsarebroadcastedonthenetworkforminerstopickup.Now,theblockchainisdifferentfromdistributeddatabasesandothertechnologiesduetoitsminingfeature:thecompetitiveproblemsolvingthathappenswithintheminersnetwork.Inprinciple,theblockchaintechnologycomeswiththefundamentalpropositionthattheminersshallactasentitieswhichwillvalidatethetransactionsandwritethemtotheblocks.Tovalidateaparticularblock,minerswillhavetosolveacryptographichashgenerationproblem,whichshallrequireenormouscomputingpowertocompute.Oncethehashisgeneratedbyaparticularminer(winnerofthetime-boundchallengetocomputethehash),theparticularblockgetsaddedtotheblockchain[10,11].Thechainofblocksismaintainedasfollows:withthetransactionsofanyblocktobemined,thehashcodeofthepreviousblockisalsoaddedtothecurrentblock.Thisensurescontinuityinthechainandalsoensuresthatanyattemptsattamperingpreviouslyaddedblocksresultsinthewholechainbeingaltered.ThisprocesscanbeillustratedbyusingtheoriginalproposedmodelofblockchainforimplementationofBitcoin,theworld'sfirstpubliccryptocurrency[12].Miningisacomputationallyintensivetaskgovernedbyminingalgorithmsthataredictatedbythesystemstakeholdersandminers.Suchalgorithmscandictatetherateatwhichblocksgetaddedontotheblockchainandtherebyareextremelyimportanttowardsthesecurityoftheentirechain.Thechainthathasthelargestamountofcomputationaleffortputintoitscreationisconsideredtobet