Impact of Blockchain on Cloud Computing in Business

Running head: RESEARCH PAPER
Topic: Impact of Blockchain on Cloud Computing in Business
Name of the Student
Name of the University
Author Note

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Table of Contents
Chapter 1: Introduction..............................................................................................................4
1.1 Background of the study..................................................................................................4
1.2 Research Aims and Objectives.........................................................................................6
1.3 Research Questions..........................................................................................................6
1.4 Problem Statement...........................................................................................................7
1.5 Rationale of the study.......................................................................................................7
1.6 Research Hypothesis........................................................................................................8
1.7 Summary..........................................................................................................................8
Chapter 2: Literature Review.....................................................................................................9
2.1 Introduction......................................................................................................................9
2.2 Concept of Blockchain Technology.................................................................................9
2.3 The impact of Blockchain Technology on Service, Business and Regulations.............11
2.4 Information symmetry through transparent record-keeping..........................................11
2.5 The impact of cloud technology on business.................................................................12
2.6 Security issues regarding cloud technology...................................................................13
2.7 Cloud ERP Blockchain solution to provide services to the customers..........................16
2.8 A gap in the Literature...................................................................................................17

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2.9 Summary........................................................................................................................18
Chapter 3: Proposed methodology...........................................................................................19
3.1 Introduction....................................................................................................................19
3.2 Research philosophy......................................................................................................19
3.3 Research approach.........................................................................................................20
3.4 Research design..............................................................................................................20
3.5 Data collection and analysis...........................................................................................21
3.5.1 Data collection methods..........................................................................................21
3.5.2 Data analysis methods.............................................................................................22
3.6 Population and sample...................................................................................................23
3.7 Ethical consideration......................................................................................................24
3.8 Research limitations.......................................................................................................24
3.9 Summary........................................................................................................................25
Chapter 4: Data Analysis and Findings....................................................................................26
4.1 Introduction....................................................................................................................26
4.2 Quantitative Data Analysis............................................................................................26
4.3 Regression Analysis.......................................................................................................49
4.4 Summary........................................................................................................................56

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References................................................................................................................................57
Appendix..................................................................................................................................62

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Chapter 1: Introduction
1.1 Background of the study
The thesis paper is based on the impact of Blockchain on cloud computing in
business. Riasanow et al. (2018) defined that the Blockchain technology can share digital
ledger, which can record the transactions into the public and private peer-to-peer networks.
There is huge opportunity taking place to create the market for Blockchain based businesses
into the cloud. The cloud market is booming, and more applications, as well as businesses,
are moving to the cloud. It can benefit from greater accessibility, the effectiveness of the cost,
lower the risk as well as flexibility into the resource usages. Mostly, Blockchain helps in
finalising the transactional records, especially when it comes to securing the bitcoin and other
cryptocurrency (Yeniyurt et al. 2019). Treiblmaier and Beck (2019) argued that in the
business organisation, Blockchain technology could improve the business efficiency, secure
the business processes as well as cut the cost down by removal of unnecessary middlemen.
There are numerous organisations found to be implementing the Blockchain technology for
the business operations, and the implementation has not only been secluded to any specific
industry. It has been reported that various sectors have been making the use of Blockchain
technology in their business operation. These include the areas of healthcare, finance
industries, real estate agencies and even government organisations (Novais, Maqueira and
Ortiz-Bas 2019). Primarily the Blockchain technology is implemented along with cloud
technology.
In the research study, Blockchain technology is used to execute the business processes
in two ways, such as it can record the process execution status for the participants while
process exchange of messages. Liu and He (2019) discussed that smart contracts could check
those interactions can conform to the business model. The Blockchain technology can

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coordinate collaborative processes executions. The smart contracts can drive the business
process as well as perform the data transformations. Novais, Maqueira and Ortiz-Bas (2019)
mentioned that the Blockchain is a new alternative to the traditional currency and centralized
banking along with traditional methods. It is not changing their ways as it can handle the
financial transactions. Into the business organisation, Blockchain is considered as a
distributed ledger which can maintain a continuous growing list of the transactions across the
network distributed over a various amount of computers. Davcev et al. (2018) summarized
that it makes it impossible to hack the data of the business organisation as it can provide
security to the payment methods. Cloud storage is an application that the business is taking
advantage of using the Blockchain technology. It is a way that the business is offered with
secure cloud storage while there is decreasing dependency.
Sharma, Moon and Park (2017) discussed that most of the business organisation, as
well as business activities, are felt to have an impact on the Blockchain technology and
applications based on it. The Blockchain technology is required no central node; and the
result is that the businesses are at risk to serve as intermediaries. Zhao and Duncan (2018)
illustrated that the Blockchain technology is expected to make functions of the problems of
middlemen. It is required to position the business organisation to capitalize on new
Blockchain applications as they are required to process the electronic transactions. It is done
to make sure that the system can meet with the industry's standards (Viriyasitavat et al.
2018). The research study is provided regarding changes into payments are done due to
progress in Blockchain and in what directions the business has thought to overhaul the
technology for their business benefits.

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1.2 Research Aims and Objectives
The aim of the research study is to find out the impact that Blockchain technology
assets on cloud computing technology. This is to be done so that it can be further utilised to
implement both the technologies for the betterment of the financial transaction system. The
impact would be upon the business organisations and other uses for the customers.
Following are the research objectives based on which this research study is being conducted,
such as:
 To find out the impact of Blockchain technology on cloud computing technology
 To identify the security issues of Blockchain on the cloud computing
 To find out how the issues regarding the technology can be avoided to make the
system appropriate for service provided to the customers
1.3 Research Questions
The inclusion of proper research questions dependent upon the undertaken topic to
find out what problem is the research trying to answer that would identify and try to solve the
made item. According to the entire issue of the impact of Blockchain technology in the
technology of cloud computing, following are the research questions based on which the
study is carried out, such as:
1. What is the impact of Blockchain technology when implemented on cloud computing
in the business?
2. Is Blockchain technology appropriate for providing services to the customers when it
is adopted into business organisations?

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1.4 Problem Statement
Blockchain technology is used as cyber money by most of the business organisations
for daily transactions. When cloud computing is implemented with this technology, then it
becomes a huge risk for the business organisation to deliver secure transactions to the
customers. In this research study, it is a problem to find out the negative impacts of
Blockchain technology with cloud computing in the business so that it can provide better
services to their customers. The study is based on finding solutions to the problem regarding
the Blockchain technology. Thus, the research would be conducted to find a solution for
eliminating the problem regarding the technology of cloud computing. The technology is
amalgamated to Blockchain facilities to find out if they are harming the business
organisations and their services to the customers.
1.5 Rationale of the study
Blockchain technology mostly deals with the recording of the operations and the
transactions within the organisation. These are linked in peer-to-peer networks and trading
with cryptocurrency methods. This is understandable that the entire operation regarding the
Blockchain technology occurs online. Business operations would be much easier if the whole
of the transactional system is based upon cyber-based policies happening over networks.
Cloud implementation has also been regarded as a technological advancement where a
storage system is based upon the internet. There is no constraint regarding the storage space
in cloud computing technology. This is because; the entire system is based upon the virtual
storage area, and it does not have a specific limitation of the storage area. Technology, as the
whole of Blockchain into cloud computing, mostly deals with the financial and economic
aspects of the business. Therefore, it should be made sure that proper methods are applied to
technology as there is a constant risk of malicious hackers. They have been trying to steal the