Blockchain and Internet of Things for Modern Business Process in Digital Economy—the State of the Art

Abstract

In addition to functionalities, business process management (BPM) involves several key indicators such as openness, security, flexibility, and scalability. Optimizing system performance is becoming a great challenge for an ever-increasing large-scale distributed application system in the digital economy on the Internet of Things (IoT) era. In a centralized BPM, many indicators, such as security and openness, or cost and flexibility, are conflicting with each other. For example, inviting new partners across enterprises, domains, and regions to form a service workflow exposes new risks and needs additional security mechanisms for scrutiny; enhancing the flexibility of business workflow compositions increases the cost of security assurance. Blockchain technology (BCT) has thrown the light on the development of vital solutions to various BPM problems. BCT has to be integrated with other BPM system components that often involve IoT devices to implement specified functionalities related to the application. Currently, the potentials of using BCT have been explored although still at an early stage. In this paper, the states of the art are presented to identify emerging research topics, challenges, and promising applications in integrating BCT into the development of BPM.