Blockchain is being referred to as the 5th innovative computer invention. In simple words, blockchain is a block of records. In a nutshell, it is a shared ledger of unchangeable and demonstrable data. Blockchains are digital ledgers resistant to tampering and are often deployed in a decentralized form with no central authority. At its most basic, they permit the public to track record operations in a shared ledger within that community, such that no transaction can be modified once published under regular blockchain network functioning. Blockchain technology is evolving at a rapid pace, and it is feasible to combine it with a variety of systems, including robotics and AI applications. A blockchain is simply a distributed database of records or a public ledger of all transactions or digital events that have been conducted and shared among participants. Each transaction in the public ledger is validated by most of the systemâs members. Furthermore, once information is input, it cannot be erased. The blockchain includes a precise and verifiable record of every single transaction that has ever occurred. Analyze the next obstacles and commercial possibilities in this foundational technology, which is poised to alter our digital world. This chapter will explore how robotic process automation (RPA) implement in blockchain technology and its impact, and where future developments are possible.
M S Kiu, Kai Wen Lai, Fah Choy Chia, Phui Fung Wong
Purpose The digitization of electronic document management (EDM) in the construction industry has become more common in nature with the evolution of technology. However, there are still some limitations in EDM in the common data environment which can be improved with the integration of blockchain technology. The purpose of this paper is to identify the limitations of the current EDM system in the construction industry, to determine the potential of blockchain in improving the EDM system in the construction industry and challenges towards blockchain-based EDM. Design/methodology/approach Semi-structured interviews were conducted with nine (9) respondents with background from the construction industry and blockchain expertise. Content analysis was used to analyze the primary data. Findings Current EDM system in the construction industry possessed limitations such as system maturity, high cost, slow adoption of technology and security concerns. Blockchain is able to make improvements in the current EDM system in terms of data integrity, data tracking, data immutability, data security, data trustability, and data accountability. Several challenges such as costs, blockchain scalability and industry knowledge, industry culture and hardware need to overcome prior blockchain-based EDM systems can be widely applied in the construction industry. Originality/value The research findings provide insight on future EDM in the construction industry and aids future research in this field.
Trust is critical to the economic, political, and social coordination and cooperation underpinning society, yet we find ourselves in a perceived âcrisis of trust,â particularly in institutions such as government, business, the media, and NGOs. But what is trust, and why is it thought to have declined in recent years? This chapter considers the problem and the nature of trust in both an interpersonal and an institutional (collective) form, asserting that trust involves a three-part relationship between a trustor, a trustee, and some domain of behavior wherein the trusteeâs behavior is perceived to encapsulate the interests of the trusting party. Choosing to trust is not a risk-free endeavor for the trusting party, as it involves the acquisition of (usually imperfect) information about the trustworthiness of a trustee that is then used to form a justified true belief about the trusteeâs trustworthiness as a basis of a trustorâs decision about whether to act in a given situation. By clarifying the notion of trust in its interpersonal and institutional forms, this chapter lays the foundation for considering the relationship between trust and distributed ledgers, including blockchains, in the following chapter.
View Video Presentation: https://doi.org/10.2514/6.2021-0662.vid The term Blockchain Technology (BT) refers to information technology (IT) where data is stored in numerous blocks using multiple distributed servers. Through digital automation the data is refreshed periodically at a frequency set by data architects and network designers. The servers are sometimes on the public internet, but in the aerospace world it is more within private intranet of authorized users to maintain privacy and security. A Blockchain network registers the components within aerospace echo system in a digital ledger accompanied by relevant data. It is virtually immutable. The data residing within BT cannot be changed without the awareness of the collaborative parties. Even if a hacker manages to penetrate one block, the overall integrity of the data would remain intact since the data is distributed among thousands of blocks containing cryptographically protected digital ledgers. Deep reinforced learning (DRL) is a machine learning (ML) process based on reinforced learning (RL) and neural networks (NN). DRL training algorithms adjusts its actions dynamically motivated by a system of reward and punishment. The DRL algorithm learns by interacting with its dynamic environment. The DRL software agents receive rewards for correct actions and penalties for performing incorrectly. These agents learn without human intervention by targeting maximizing the reward and minimizing the penalty. Robotic process automation (RPA) is a business process automation technology based on software agents. It can trigger automated agent-based actions. When RPA and DRL are combined, system operates software agents that can learn in dynamic environment automatically without human interventions. They act as autonomous agents that learns continuously and operates cyber infrastructure autonomously. In this paper we show the implementation process and the benefits of integrating deep reinforced learning and robotic process automation in Blockchain digital transformation for autonomous cybersecurity.
In the financial services industry, many people assume blockchain to have significant impacts. From research and practice, we observe two main paradigms of how organizations interact with blockchain. First, organizations use blockchain to optimize existing processes (blockchain-based business process optimization (BPO)). Second, organizations use blockchain to disrupt existing processes, foster disintermediation, and enable disruptive business models (blockchain-based business process disruption (BPD)). However, we lack scientific research that evaluates its de facto potential. We bridge this gap by following a design science research approach to design blockchain-based business process re-engineering (BPRE) for a letter of credit that combines the advantages of BPO and BPD. We conduct three design cycles and develop three artefacts: a BPO, a BPD, and a BPRE approach. Our BPRE approach combines the advantages of partial disintermediation (i.e., increased efficiency and transparency) with the advantages of intermediaries (i.e., process flexibility, liquidity provision, and dispute mediation).
Traditional organization management typically follows a top-down pyramid structure, which is widely believed to have many problems in releasing innovation potentials. In the new era of intelligent technologies, knowledge automation is required to meet the urgent demand for rapid acquisition and application of knowledge. With the rapidly deepened integration of the real world and the virtual society, cyber-physical-social system (CPSS)-oriented parallel management proves to be an effective and efficient way in solving these problems. In this article, we utilize blockchain technology and smart contracts in knowledge automation and investigate blockchain-based knowledge automation, which can be used for CPSS-oriented parallel management. We also propose a management framework based on the smart contract and discuss a case study.
Friedrich-Alexander-UniversitĂ€t Erlangen-NĂŒrnberg, Lehrstuhl fĂŒr Wirtschaftsinformatik, insb. im Dienstleistungsbereich, NĂŒrnberg, Germany, Philipp Klinger, Freimut Bodendorf
Cross-organizational business processes involving multiple participants are choreographed, thus rely on mutual trust of collaborators or need to be coordinated by a central instance.Using Smart Contracts, business processes can be executed without a mutually trusted and centralized orchestrating authority.Former Blockchain-based execution framework proposals focus on orchestration diagrams as a basis for execution.Contrary, this work focuses on BPMN process collaboration diagrams as implementation basis and makes additional transformation steps obsolete.With the herein proposed framework for execution of cross-organizational process collaborations, another approach for the implementation and execution of interorganizational processes on a Blockchain is presented, including a voting mechanism for process deployment as well as a subscription service to facilitate process handovers between participants more efficiently.The framework is exemplified and evaluated with a use case from a large German industrial manufacturing company.
Yingying Zhang, Feng Xiong, Yi Xie, Xuan Fan · 5 authors
Recent developments in technology have introduced dramatic changes to the practice of the accounting profession. This paper provides a comprehensive review of current developments in big data, machine learning, artificial intelligence, and blockchain utilized in general business practice and by specialized practitioners in the accounting profession worldwide. This paper explores the evolution of the accounting profession following these recent technological developments and assesses the impact of future developments. Inherent challenges and opportunities posed by these new technologies pertaining to accounting professionals and accounting educators are also examined, including an increased demand for IT professionals with accounting experience as opposed to accounting major graduates. Considering the dramatic changes and developments of AI applications in accounting, this paper reflects how all these technologies and the associated requirements of job candidates will affect the desired capabilities of accounting graduates and provides further discussion regarding what higher institutions and their accounting graduates can do to adopt such changes.
Nathalie Brender, Marion Gauthier, JeanâHenry Morin, ArbĂ«r Salihi
In todayâs debate on the potential disruptive effects of blockchain, audit and control professions are rarely in the spotlight although applications such as smart contracts and distributed ledgers could significantly impact them. We conducted a study based on the grounded theory to understand how auditors in Switzerland anticipate the impacts of blockchain on their activities. Based on our findings, three hypotheses have emerged. First, the potential effect of blockchain on the profession is not fully anticipated. Second, the profession will go through a paradigm shift in two ways: become more IT oriented and forward looking. Finally, the profile of the auditors will change.
Jan Mendling, Gero Decker, Richard Hull, Hajo A. Reijers · 5 authors
This paper summarizes a panel discussion at the 15th International Conference on Business Process Management. The panel discussed to what extent the emergence of recent technologies including machine learning, robotic process automation, and blockchain will reduce the human factor in business process management. The panel discussion took place on 14 September, 2017, at the Universitat PolitĂšcnica de Catalunya in Barcelona, Spain. Jan Mendling served as a chair; Gero Decker, Richard Hull, Hajo Reijers, and Ingo Weber participated as panelists. The discussions emphasized the impact of emerging technologies at the task level and the coordination level. The major challenges that the panel identified relate to employment, technology acceptance, ethics, customer experience, job design, social integration, and regulation.
Adam Watson, Regis Rukundakuvuga, Khachatur Matevosyan
Automated Case Management Systems are still at an early stage of adoption in many developing countries. These are frequently standalone systems implemented with donor financing, and they often fail due to capacity constraints or as a consequence of short-term, project-based funding. But there are examples of developing countries overcoming these pitfalls and producing innovative solutions that surpass government practices in more developed countries. The Integrated Electronic Case Management System (IECMS), developed and implemented by the Ministry of Justice of Rwanda from 2015-2016, is one such innovation. This system has progressed rapidly in its level of adoption and integration between law enforcement, the prosecutorâs office, courts, and corrections. This paper will discuss the key system functionalities and the implementation methodology, including both the benefits and shortcomings of this approach, with the goal of applying lessons learned in future installations. Foremost among the successes of this project were the integrated Sector Wide Approach, the thorough business process reengineering, and strong ownership by the Rwandan Justice Sector staff. Particularly instructive will be the analysis of the integrated approach, covering five institutions with a single system in less than two years. However, the particular success in this case may not be replicable for governments with a more decentralized approach.