Abstract
This chapter provides an overview of blockchain technology and its potential use in library and information centers. It explains the main components of blockchain technology, including nodes, transactions, blocks, and chains, and the different types of blockchain networks. The three pillars of blockchain technology, namely decentralization, transparency, and immutability, are also discussed. The chapter highlights the advantages of using blockchain in libraries, including digital preservation, tracking, and data storage. It also notes the challenges in implementing blockchain technology in libraries, such as complex architecture and start-up costs. Despite the obstacles, the potential benefits of blockchain in libraries are significant. The chapter concludes by highlighting the importance of further research and development in this field, and how emerging technologies like blockchain could shape the future of libraries and information centers.
TopBackground Study
The background of the topic was thoroughly studied by reviewing some valuable research on the utilisation of blockchain technology in higher education systems, libraries, and information centres and examining its potential impact on these fields.
Abid (2021) outlined the potential use cases for blockchain in libraries, including digital preservation and tracking, community-based collections, and interlibrary loan systems. The author suggested that project management, resources, and finance should be considered before implementing blockchain. Frederick (2019) discussed the potential of blockchain technology in improving the reliability and trustworthiness of data, while Oyelude (2019) provided an overview of how blockchain works, its potential uses in libraries, and how it was being used in different industries. Liang (2020) noted that blockchain technology could help improve the effectiveness of library services by making it easier for readers to find their preferred content.
Additionally, Kuo and Shieh (2020) used smart contracts to improve library services, while Tawornittayakun and Leelasantitham (2020) developed a library information storage system using blockchain technology to solve data security issues. While blockchain technology could potentially benefit libraries, careful consideration was given to implementation to ensure that it was done in a way that maximized its benefits while minimizing its risks. Sharma and Batth (2020) discussed the use of blockchain technology to decentralize records and their exchange for knowledge and skills. The paper explored the potential applications of blockchain in the educational system and discussed the challenges that this technology may face.
Key Terms in this Chapter
Digital First Right (DFR): Digital first right (DFR) is the ability for individuals who legally acquire a digital copy of a copyrighted work to sell or dispose of it without infringing on the copyright owner's rights. This concept is based on the principle of exhaustion of rights, where the copyright owner's control over a copy is exhausted once it has been legally sold. However, the implementation and enforcement of DFR in the digital era are still being debated and interpreted.
Blockchain Technology: Blockchain technology is a digital ledger of transactions distributed across a network of computers, where each transaction or block is secured by cryptography. It enables a secure, transparent, and decentralized way to record and transfer data without the need for intermediaries, such as banks or governments. Blockchain is the underlying technology behind cryptocurrencies such as Bitcoin, but it has many other potential applications, including supply chain management, voting systems, and digital identity management.
Web 5.0: Web 5.0 is a speculative term that refers to a hypothetical future version of the World Wide Web that would be characterized by an even higher degree of interconnectivity and intelligence, and that would likely incorporate emerging technologies such as artificial intelligence, blockchain, and virtual/augmented reality to create more personalized and immersive online experiences.
Blockchain 5.0: Blockchain 5.0 refers to the theoretical future evolution of blockchain technology that involves the creation of decentralized autonomous organizations (DAOs) that can operate independently without human intervention. It also involves integrating other emerging technologies such as artificial intelligence and big data analytics to enable more efficient and secure transactions and create new forms of collaboration and value creation. Although still in its early stages, the concept of Blockchain 5.0 reflects the ongoing potential of blockchain technology.
Library Consortium: A library consortium is a group of two or more libraries that agree to work together to achieve common goals and share resources, such as materials, staff, and technology. Consortiums can be regional, national, or international in scope and are typically formed to improve access to information, reduce costs, and promote cooperation among member libraries.
Industry 5.0: Industry 5.0 is a term used to describe the future vision of industry that incorporates advanced technologies like AI, robotics, big data, and the Internet of Things with a focus on human-centered design and collaboration between humans and machines. This vision emphasizes the importance of balancing technological advancements with human creativity, skills, and intuition to achieve greater efficiency, productivity, and sustainable development. Industry 5.0 is seen as a natural evolution from Industry 4.0, which focused on automation and digitization.
Library 5.0: Library 5.0 is a future vision of libraries that are community-centric, highly digitized, and intelligent. It focuses on using emerging technologies like big data analytics, the Internet of Things, and artificial intelligence to personalize user experiences and enhance community engagement. It also emphasizes the importance of libraries evolving into learning and innovation centers that support creativity, entrepreneurship, and lifelong learning.