Review: Data Security Models Developed by Blockchain Technology for Different Business Domains

This study investigates a range of data security models developed to achieve data security using blockchain technology for different industrial domains. Current industries utilize data-driven mechanisms for decision making with concern focussed on ensuring data security. Blockchain has the potential to secure data by integrating different information systems since data is decentralized, encrypted and validated by the whole network. This study includes an analysis of blockchain security models using data extracted from 30 peer-reviewed scientific publications over two years (2017-2019). This study analyzed three components of the publications, including the process involved in securing data, the stage of development for securing data and in which industry a model is best applied. Results of the research show that the majority of articles (51.11%) cited Blockchain as a key feature of data security for improvising the data sharing process in industries. This study also finds that the stage of implementation most commonly featured is the proposal stage with potential architectures yet to be implemented (30%). Finally, this study shows that models are applied in industrial domains such as enterprises using data analytics, finance, Internet of Things (IoT), healthcare, education, and cloud service providers. This study finds that security models are most often applied to industries and supply chain management models (28.13%). It is recommended that industry professionals conduct further research to customize the data security models in their own domain. This study gives clear guidelines to researchers of suitable frameworks, processes and consensus mechanism to utilize Blockchain in Industries for data security.