Murad Obaid This email address is being protected from spambots. You need JavaScript enabled to view it.1 , Musbah Aqel1 , and Mahmoud Obaid2

1Department of Management Information Systems Cyprus International University, Lefkosa, Northern Cyprus, Mersin 10, Turkey
2Department of Computer System Engineering, Arab American University, Jenin - Palestine


 

Received: February 16, 2021
Accepted: March 22, 2021
Publication Date: August 1, 2021

 Copyright The Author(s). This is an open access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are cited.


Download Citation: ||https://doi.org/10.6180/jase.202108_24(4).0025.  


ABSTRACT


Blockchain has become one of the most common methods for securing transfer data through decentralized peer-to-peer systems and has received extensive attention in recent years. Blockchain is an immutable ledger that allows the execution of a transaction in a secure and decentralized manner. This sophisticated but secure mechanism has an excellent reputation and has increased its customer base. Despite substantial attention, the blockchain system has many challenges that must be ad-dressed. This paper proposes a solution that provides a standard framework for mobile payments using blockchain technology. We further discuss security-related issues and attempt to determine the potential pitfalls with which such mechanisms can be exploited. We also investigate how popular currencies such as Bitcoin utilize security arrangements for safe transactions via mobile devices.


Keywords: Blockchain, Mobile Payment, Private Blockchain, Banking Blockchain, Blockchain Security


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