A Framework for Modelling Blockchain based Supply Chain Management System to ensure soundness of Smart Contract Workflow

Abstract

We propose a smart contract workflow verification framework for blockchain-based supply chain management systems. The proposed framework introduces a Petri-Net-based formalism to model smart contract workflow in a supply-chain context. Smart contracts are deployed in the blockchain nodes and executed automatically if a predefined condition is met. As deployment and execution of smart contracts require payment, it is necessary to ensure smart contract logic before the deployment to avoid unnecessary execution costs. Multiple business rules should be followed in a predefined order and criteria to complete a complex supply chain process. Therefore, a set of smart contracts representing digital business rules should also be executed in a predefined order and criteria. To verify the soundness of smart contract-based blockchain systems, the modeling of smart contract execution is required. The proposed Petri-Net model for smart contracts ensures smart contract workflow correctness before execution in a blockchain-based system. We conduct multiple experiments to evaluate the performance of our proposed framework.