Blockchain for Security of a Cloud-based Online Auction System
In recent decades, Internet auctions have already been grown up as the most significant e-commerce business model in worldwide. Meanwhile, with the rapid rising of cloud computing over the past few years, the legacy online auction platform is gradually replaced by service-oriented cloud computing in real time. This thesis describes design and implementation of a high-performance online auction system over the cloud. We propose the methodology to provide persistent state records during the auction process so that we can ensure the reliability of submitted bid price, fairness and guarantee the security of price message in the delivery process. We employ the actor-based applications to achieve stateful, parallel and distributed architecture. Moreover, utilising distributed databases to provide secure and efficient data storage. Our preliminary result provides the guidelines for implementation of high-performance and real-time bidding online auction.
Auction fraud has become the highest threat and hazard to the future of this business model (Grazioli & Jarvenpaa, 2000). In this thesis, we are going to demonstrate the details of blockchain which will provide a new perspective to resolve this problem. It is able to be used for current financial services, certificates, remittances and online payments. Furthermore, it also provides several crucial services such as smart contract, smart property, trust system and security services (Gareth William Peters, Panayi, & Chapelle, 2015). This thesis will discuss how to apply a private blockchain to a cloud- based online auction and the principle of operation. The purpose is to fundamentally solve the problem of online fraud caused by information asymmetry of electronic transactions. To the best of our knowledge, this is the first time that the blockchain is applied to authentication of online auction. Our preliminary result is for preventing auction fraud from the aspects of smart properties and smart contract.