CFPChain: An Optimization of Research Funding Selection System Employing A Consortium Blockchain Based Approach

This paper addresses the challenges in the current centralized research funding selection system and proposes a solution using permissioned blockchain technology. The existing system suffers from drawbacks such as concealed data modification and lack of interoperability. The Blockchain approach, based on the principles of Bitcoin technology, offers high security, auditability, traceability, and integrity. By utilizing interconnected blocks and cryptography, the proposed system ensures the authenticity and consistency of data over time. The chosen blockchain platform, Hyperledger Fabric, provides crash-fault-tolerance consensus and private communication options for enhanced security and efficiency. The objective of this study is to develop a consortium blockchain-based research funding platform that enables collaboration among researchers from public agencies, universities, and companies, with funding provided by financial organizations. The proposed architecture model ensures tamper-proof data, accountability, and interoperability, benefiting researchers, reviewers, auditors, funders, and companies.