Comparative Study on RFID based Tracking and Blockchain based Tracking of Material Transactions

Abstract

Radio Frequency Identification & Detection (RFID) technology is used frequently in material and device identification and tracking in business firms and retail shops. In RFID technology tags are used to transmit data in the form of radio waves. The device transmits information from a reader to an RFID computer program. The RFID tags are often used for goods as well as for the followup of pets, Alzheimer's disease patients & vehicles. RFID tag is called an RFID chip as well. This technology supports the tracking of tangible components and materials. Similarly, one of the ICCT underlying technologies called blockchain technology is recently developed and it consists of a growing list of cryptography associated records in the form of chain that has the property of transparency, decentralization, and immune to modifications. Blockchain technology is used for record creation across many computers or digital devices of a process or an activity which cannot be altered retroactively, without altering its subsequent processes or activities. Blockchain technology allows a system to own digital goods, assets, and data and capable to trace the history of everything which is created as a footprint in the past transactions. In this paper, we have analyzed and compared how RFID and Blockchain technologies can be complementary to each other and add new features in material-based tracking in society. The data were gathered from various websites & scholarly journals. Initially, RFID, ICCT & BCT are analyzed in terms of their material tracking properties, then a comparison is made between RFID & BCT in material tracking to give an insight into different complementary technologies in transactions and material tracking.