Evolving Blockchain Applications: Multiple Semantic Models and Distributed Databases for Blockchain Data Reuse

Daniel E. O’Leary
Authors registered in the RePEc Author Service: Daniel E. O'Leary, Jr.

Chapter 19 in Information for Efficient Decision Making:Big Data, Blockchain and Relevance, 2020, pp 545-577 from World Scientific Publishing Co. Pte. Ltd.

Abstract: As blockchain-based applications continue to evolve, there are at least two emerging trends. First, increasingly, there are multiple semantically different models proposed for similar tasks. As an example, researchers and companies have either proposed or developed different models for supply chain and other concerns. As a result, unfortunately, it is increasing likely that firms will need to choose between those systems and/or interface their internal systems, such as their enterprise resource planning systems, with multiple blockchain-like systems. Second, the importance of database models underlying blockchain transaction information is becoming increasingly apparent. The blockchain provides a source for immutable data, but participants are interested in gathering information from the data. Unfortunately, blockchain data is not in an easy to use format. As a result, the data is likely to be taken “off of the blockchain” in order to be queried, etc. This paper examines these emerging trends and this paper develops a “blockchain-like” application with blockchain and distributed database capabilities for the case of a virtual organization.

Keywords: Accounting; Decision Making; Economic Information; Stock Trading; Acquisitions; Mergers; Financing Reporting; Reliable Information; Company Decisions (search for similar items in EconPapers)
JEL-codes: A1 M41 (search for similar items in EconPapers)
Date: 2020
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