A Model-driven Approach for the Description of Blockchain Business Networks

Abstract

The concept of blockchain technology has gained significant momentum in practice and research in the past few years, as it provides an effective way for addressing the issues of anonymity and traceability in distributed scenarios with multiple parties, which have to exchange information and want to securely collaborate with each other. However, up-to-date, the impact of the structure and setup of business networks on successfully applying blockchain technology, remains largely unexplored. We propose a model-driven approach, combining an ontology and a layer model, that is capable of capturing the properties of existing blockchain-driven business networks. The layers are used to facilitate the comprehensive description of such networks. We also introduce the Blockchain Business Network Ontology (BBO), formalizing the concepts and properties for describing the integral parts of a blockchain network. We show the practical applicability of our work by evaluating and applying it to an available blockchain use case.