Journal of economics and regional development

Presenting the Model of Using Blockchain Technology in International Trade (petroleum derivatives)

Document Type : Original Article

Authors

amirreza alborz 1
mahmood ahmadisharif 2
mahmood hashemi 3

1 , phd. student of business management of islamic azad university of shahreqods branch, tehran, iran.

2 managament dep. human science faculty, azad university, tehran,iran.

3 management dep., human science faculty, isalmic azad university, tehran, iran

https://doi.org/10.22067/erd.2022.71124.1057
Abstract
 
1- INTRODUCTION
Oil and natural energies are important tools in global economic financial policies and the process based on income generation and progress based on it. In this context, oil and oil derivatives play a fundamental role in the economic infrastructure of countries that produce this precious substance. Iran's economy has been mainly based on oil since many years ago, especially from the 1350s onwards. In Iran, first of all, as an energy source, oil has evolved the life and economy of the country's people and caused economic growth and development, secondly, the income from oil has led to advancement and progress in all economic and social pillars. In other words, oil has been the factor of national prestige and the driving engine of economic, social and cultural growth and development of the country.
 
2- THEORETICAL FRAMEWORK
The issue of changes in the business model and adaptation to the current market conditions is a fundamental and vital issue, and blockchain is an up-to-date structure in various businesses; It is in different sizes and in different patterns. Blockchain is a data distribution of database based on the community of millions of sharing points, in which data is recorded and modified simultaneously, which can be used by using this open, free and at the same time complex platform. Dealing with financial, scientific and information exchanges. blockchain technology can be considered a network that has a function like a database, but is not centralized and is not controlled by an institution or organization. The information stored in the blockchain has some differences with the information stored in the database. Information in the blockchain is stored in blocks. This information can be anything and is not limited to transactions. Each block has a "hash" in addition to the information stored in it. Hash is a set of characters that special algorithms are used to create.
 
3- METHODOLOGY
In the petroleum industry, blockchains are shared or distributed data structures that can securely store digital transactions without using a central point. Most importantly, blockchain enables the automatic execution of smart contracts in peer-to-peer (P2P) networks. They can be thought of as databases that allow multiple users to make changes to the ledger simultaneously, which can lead to multiple versions of the chain. Instead of the ledger being managed by a trusted center, each individual network member has a copy of the chain of records and agrees on the valid state of the ledger. The precise method of achieving consensus is an ongoing area of research and may vary across a wide range of application domains. New transactions are cryptographically linked to previous transactions, which makes blockchain networks flexible and secure. Each network user can self-check whether transactions are valid, which provides transparency and reliable, tamper-proof records.
 
4- RESULTS & DISCUSSION
The purpose of this research is to identify the international trade structures of oil derivatives using blockchain technology. In this regard, first by reviewing the verbal evidence of the research and identifying the concepts, we proceed to the open coding process, then the components of the axial coding paradigm including causal conditions, main phenomenon, strategies, background, intervening conditions and consequences are separated and based on categories. Subsets are proposed and finally linked according to selective coding.
First, in open coding, the data are broken into separate parts, carefully examined to obtain similarities and differences, and questions about the phenomena that the data indicate. , are raised. Open coding is a part of the analysis that clearly deals with the naming (conceptualization) and categorization of the phenomena through careful examination of the data. Therefore, it can be said that there are two main steps in open coding, which are: conceptualization and categorization.
 
5- CONCLUSIONS & SUGGESTIONS
The investigation showed that the causal conditions include the complexity of the industry - ambiguity and uncertainty in situations, rapid technological developments - integration of technologically oriented companies with companies in this industry - changing competition conditions – necessi,ty and strategic importance.
The central phenomenon includes the use of blockchain technology in international trade (petroleum derivatives), market monitoring, competitors monitoring, industry monitoring, company monitoring, document and law monitoring, creating an intelligent information system, industry interactions and exchanges, insurance matters and work contracts.
Background conditions include national conditions (growth of social awareness in the oil and gas industry, domestic capacity and capabilities of the country), international conditions (imitating similar successful fields, forming a consortium to join technologies similar), organizational conditions (structural dimensions - globalization culture, technological culture, awareness). Intervention conditions include internal organizational conditions (structural factors - managerial factors - individual factors) and external conditions (economic conditions - political conditions).
 

Keywords

Blockchain Technology
International Trade
Oil Derivatives
Market Research
Subjects

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  • Receive Date 23 June 2021
  • Revise Date 05 July 2022
  • Accept Date 03 October 2022

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