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Author
Hofbauer Günter (University of Applied Sciences, Ingolstadt, Germany), Sangl Anita (University of Applied Sciences, Ingolstadt, Germany)
Title
Blockchain Technology and Application Possibilities in the Digital Transformation of Transaction Processes
Source
Forum Scientiae Oeconomia, 2019, vol. 7, no. 4, s. 25-40, wykr., rys., bibliogr. 41 poz.
Issue title
Digital Socio-economic Platforms in the Era of Industry 4.0
Keyword
Transformacja cyfrowa, Technologia blockchain, Procesy biznesowe, Digitalizacja, Rozwój technologiczny, Techniki szyfrowania danych
Digital transformation, Blockchain technology, Business processes, Digitizing, Technological development, Data encryption technique
Note
summ.
Abstract
The term 'blockchain' describes a technical concept, which records data in a predetermined way on the different systems of all associated users in a cryptographic mode. This procedure is a revolutionary technology for business models in different fields. Currently, many enterprises are searching for feasible applications and the implementation of this new technology. In order to take advantage of these applications, it is important to understand the underlying principles and implications. The scientific purpose of this paper is twofold: firstly, to explain selected characteristics of the blockchain principle to understand the advantages for its application in transaction processes; and secondly, to show concrete possibilities for its application related to transaction activities. For this reason, particular areas of transaction-based processes in sales and procurement will be shown and explained. The methodology is analytical and theoretical. Based on statistical data, the expectations and requirements of users will be matched with blockchain characteristics. It can be deduced that the most important requirements pertaining to efficiency and cost reduction as well as security and trust can be fulfilled by using blockchain. The theoretical foundation leads to conceptual considerations of a deductive approach to application possibilities, though the question of research into the possibilities of broadening blockchain technology to encompass transaction-based business activities in general will be answered. (original abstract)
Accessibility
The Library of Warsaw School of Economics
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Bibliography
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ISSN
2300-5947
Language
eng
URI / DOI
http://dx.doi.org/10.23762/FSO _VOL 7_NO4_1
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