Analysis of Blockchain Impact on Cloud Computing in Business Sector

This research report investigates the impact of blockchain technology on cloud computing in business. It begins by introducing the background, aims, and objectives of the study, focusing on the potential of blockchain to enhance security and efficiency in cloud-based business operations. The literature review examines the concepts of blockchain and cloud technology, highlighting the benefits and security concerns associated with cloud computing. The proposed methodology outlines a quantitative research approach, including data collection and analysis methods, ethical considerations, and research limitations. The data analysis section presents findings from regression analysis, exploring the relationship between blockchain implementation and cloud computing effectiveness. The study aims to determine the impact of blockchain on cloud computing and its implications for service delivery and customer satisfaction, ultimately seeking to provide insights into leveraging blockchain technology for improved business outcomes. Desklib provides access to similar research papers and solved assignments for students.

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

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cryptocurrency at any vulnerability found. If this happens, the business organisations seeking
to implement this technology as a service to the customers will face problems. Therefore, the
study is necessary to find out the impact of the Blockchain technology on cloud computing
and if it creates any issues after implementation to the business services. In addition to that,
the further ways by which the services can be enhanced would be pointed out through the
research.
1.6 Research Hypothesis
The research hypothesis that would be considered for the research in this regard based
on the topic would be described as follows:
H0: Blockchain technology has no impact on cloud computing technology and business
services
H1: Blockchain technology has a definite effect on cloud computing technology and business
services
1.7 Summary
It is summarized that Blockchain technology is such a technology which is provided
with a huge impact on the business organisations by improving the mode of transactions. The
first application of it is bitcoin, which is raised into the financial services sector puts the
payment methods secured around the Blockchain technology. The study is focused on
gathering a higher number of experts to get a better understanding of the implications of
Blockchain technology into business organisations. The paper is also outlined changes which
are caused due to implementation of Blockchain in cloud computing. The research study is
contributed to literature study in the next chapter by analyzing the impact of Blockchain
technology in business.

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Chapter 2: Literature Review
2.1 Introduction
This research study is focused on the impact of Blockchain technology in cloud
computing into the business organisation. In this literature study, there is an investigation of
the definition of Blockchain technology as well as survey trends of this technology. The
trends are analysed in this study based on considering the environments of cloud computing.
Mainly, there is a review of the usage of Blockchain technology into the business
organisation, which helps to secure the electronic transactions and provides the business with
a secured mode of payments. There is a discussion of considerations of the Blockchain
security as well as secured solutions into the business environment. This literature studies the
Blockchain technology and its trends by analysing proposed technology. It is also discussing
the solutions using bitcoin in addition to future study areas. The researcher has fostered the
development of Blockchain technology by analysing the trends of Blockchain security. The
rest of the section is organized as discussing related works included basic concepts of the
Blockchain technology as well as bitcoin. There is a discussion of Blockchain included its
settlement and security of the transaction software. Finally, there is a summary in the final
section of the literature review.
2.2 Concept of Blockchain Technology
Aste, Tasca and Matteo (2017) stated that the Blockchain is such a technology which
can allow members to keep ledger contains transactional data. It is used to update the ledgers
for maintaining integrity where there are innovative transactions. Advancement of the
Blockchain technology can help to verify the reliability of the transactions. The authors
Miraz and Ali (2018), stated that the technology of Blockchain initiates a broker-free P2P
characteristic. Thus it is not necessary that authorisation of a third party is required in these

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kinds of transactions. This is a problem since it is tough for a hacker to handle into these
kinds of transactional information system if they are under the ownership of several people.
The security expense becomes saved, and transactions are automatically approved and
recorded by mass participation with assured promptness. The authors Li et al. (2017), stated
that various ongoing studies are trying to secure the vulnerabilities in this regard. While some
think that the security system would be even more vulnerable if the Blockchain technology is
utilised for the transactions involving bitcoin and taken to the cloud services. It is necessary
since understanding it from the aspect of a business perspective becomes much essential to
enhance the services.
Since cloud system has no limited and physical attributes of the storage areas, the
ERP implementation to track down the order would be difficult to maintain. It only happens
when the security vulnerabilities are not addressed before Blockchain technology is implied
upon. Thus, the authors Dorri, Kanhere and Jurdak (2016), suggests that the weaknesses of
the Blockchain transactional elements like bitcoin. These are incredibly vulnerable to falling
prey to malware should apply proper ways. The procedures are included to follow appropriate
security eradicating methodologies on the cloud computing technologies. In addition to that,
the necessary implementation process of Blockchain Technology in Cloud Computing and
their impact on the service provisions of the business organisation is also dependent on the
security system. If it is porous enough, customers would not like to invest their time and
online money to the business services. Following would be the findings of the literature
review that would bring possible effects of Blockchain and its implementation in a business
industry over cloud technology bring about in researches done previously.

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2.3 The impact of Blockchain Technology on Service, Business and Regulations
Public and private sectors have been bringing about several expectations the
technology of Blockchain and its combination with the technology of cloud computing.
Taghavi et al. (2018) identified that the reason behind this combination is that this technology
sets for the development of a peer-to-peer platform, or a P2P platform. There is no
requirement of intermediary official social platform or official cyber platform for this
particular process, and only the exchange of information is needed. The author also identifies
that the utilisation of the technology of Blockchain has the potential of radically transforming
the face of the industry that is currently seen. There is no need of involving an intermediate
during the exchange of digitised goods, assets and information. The economic sectors are
prone to further improvements since they are radically enhancing the regulatory controls for
the organisation. The author Atlam et al. (2018), also characterises that it is one of the fourth
incoming industrial revolution. This is led by the combination and adoption of various
technologies. This has been increasingly narrowing the gap between the physical and the
virtual world. The transactions are occurred in various industries such as retail, IT,
manufacturing and banking in terms of the utilisation of cryptocurrency for business mode
transactions. Another author, Xiong et al. (2018), pointed out the fact that the Blockchain
technology has the potential for disrupting both the industry and the society at large.
2.4 Information symmetry through transparent record-keeping
At present, trades and negotiations are influenced by asymmetric information between
economic agents which give origin to problems like moral hazard and adverse selections.
Those problems have been historically solved by the introduction of central authorities with
function as a single point of control. It also has a potential point of failure when the
possibilities of attaining perfection are not given much priority. Lack of traceability and