A Novel Hybrid Sharing Economy Based Blokchain Model (Proof of Meet)

Abstract

This paper is the first part of the Proof of Meet (PoM) work. This part focuses on the need for the model and its system (roughly) rather than giving technical details. In the second part, full technical details and architecture of the model will be discussed. The model focuses on consensus-based sharing (meeting) economy model. The sharing (meeting) describes the relationship between what is already somewhere and what goes there. The consensus is built on active clients (where the client can be anything capable of a change of location) on a social activity (location and action). There are two parts of clients; the first who/which go somewhere for a purpose (C_1) and the second who/which are regularly somewhere for a purpose (C_2). C_1 is in the domain of at least two clients and C_2 is in at least one. To build a decentralised blockchain with no energy-consuming, the paper proposes a consensus system, PoM, on the top of Proof of Stake (PoS) and Blockchain-Based Proof of Location (BBPL). The sharing economy model is one of the applications of the proposed blockchain model. The blockchain system called HOX is available to use very large area distributed ledger systems from a dynamic transportation system to dynamic big data. HOX is an instance of PoM application. Consequently, the proposed model provides the opportunity to record taxes, earn a fair share of labour and use blockchain actively in daily life within the legal framework.

Keywords

• Proof of meet
• proof of stake
• blockchain
• consensus
• location-based blockchain
• dynamic big data

References

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