Understanding the Blockchain Using Enterprise Ontology

• Published in: Advanced Information Systems Engineering Vol. 10253; pp. 29 - 43
• Main Authors: de Kruijff, Joost, Weigand, Hans
• Format: Book Chapter
• Language: English
• Published: Switzerland Springer International Publishing AG 2017; Springer International Publishing
• Series: Lecture Notes in Computer Science
• Subjects: Blockchain; Business model ontology; Enterprise ontology; REA
• ISBN: 3319595350; 9783319595351
• ISSN: 0302-9743; 1611-3349
• DOI: 10.1007/978-3-319-59536-8_3

Blockchain technology is regarded as highly disruptive, but there is a lack of formalization and standardization of terminology. Not only because there are several (sometimes propriety) implementation platforms, but also because the academic literature so far is predominantly written from either a purely technical or an economic application perspective. The result of the confusion is an offspring of blockchain solutions, types, roadmaps and interpretations. For blockchain to be accepted as a technology standard in established industries, it is pivotal that ordinary internet users and business executives have a basic yet fundamental understanding of the workings and impact of blockchain. This conceptual paper provides a theoretical contribution and guidance on what blockchain actually is by taking an ontological approach. Enterprise Ontology is used to make a clear distinction between the datalogical, infological and essential level of blockchain transactions and smart contracts.