Blockchain characteristics and consensus in modern business processes
By Wattana Viriyasitavat, D. Hoonsopon. Journal of Industrial Information Integration, 2019
381 citations recorded by the source corpus.
Abstract Blockchain technology has attracted a great deal of attentions as an effective way to innovate business processes. It has to be integrated with other Business Process Management system (BPM) components to implement specified functionalities related to the applications. The current efforts in integrating this technology into BPM are at a very early stage. To apply Blockchain into business processes efficiently, Blockchain and business process characteristics must be identified. Inconsistency of confirmation settlement that heavily relies on the implementation of consensus protocol poses a major challenge in business process operations, especially ones that are time-critical. In addition, validators, nodes responsible for performing consensus operations in a Blockchain system, can introduce bias and as a result are not trustable. This paper first defines Blockchain and also investigates the characteristics of Blockchain and business processes. Then, we suggest an architecture of business processes in Blockchain era to overcome the problems of time inconsistency and consensus bias. The architecture provides persistency, validity, auditability, and disintermediary that Blockchain offers. The architecture also provides flexibility by allowing business partner to select nodes in performing consensus; thus bias is mitigated.
Subfields: Computer Networks and Communications, Information Systems
View Paper: https://www.semanticscholar.org/paper/cf58f0c53a2bd2c0a1ee7bec77920c3f80036ac2
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Citations in the corpus
- When Blockchain Meets Supply Chain: A Systematic Literature Review on Current Development and Potential Applications (2020, background): “Since blockchain with its unique features allows more streamlined business processes [21], [22], and enhanced transparency and trust among stakeholders, exploring its applications in supply chains is important for both academics and practitioners.”
- Blockchain-based framework for supply chain traceability: A case example of textile and clothing industry (2021, background): “A detailed explanation can be found in work by Viriyasitavat and Hoonsopon (2018).”
- Blockchain technology: Is it hype or real in the construction industry? (2020, neutral): “[99] Savelyev [100] Viriyasitavat and Hoonsopon [101] ”
- A Survey on Blockchain for Big Data: Approaches, Opportunities, and Future Directions (2020, background): “eothertechnologies,blockchain is a decentralized network wherein the participating members have complete authority to monitor all transactions in the blockchain network in a peer-to-peer (P2P) manner [36, 37].The blockchain technology is an amalgamation of varied multidisciplinary concepts such as s”