Block Chain Development discussion 2

Professor Michael Solomon

BLCN 532 Blockchain development

Chapter 6

Chapter 6

• Business Networks

• Describing business networks

• Introducing participants and assets

• Introducing transactions and events

• Implementing a business network

Business Networks

Recognizing purposeful activities

Defining a business network

A language for business networks

Participants

• Individual • Organizational • System or device

Types of participants

Participants are agents

Participants and identity

Assets

Assets flow between participants

Tangible and intangible

Asset structures

Ownership

Asset life cycles

Transactions

Change – a fundamental

concept

Definition and instance

Implicit and explicit

Importance of contracts

Signatures

Transactions, cont’d

SMART CONTRACTS FOR MULTI-PARTY

TRANSACTIONS

DIGITAL TRANSACTION PROCESSING

INITIATING TRANSACTIONS

TRANSACTION HISTORY

Transactions, cont’d

Transaction streams

Transactions that span separate business networks

Transaction history and asset states

Regulators and business networks

Events

Events defined

Messages carry event

notifications

Events and transactions

External and explicit events

Events result in actions

Loosely coupled design

Utility of events

Implementing a Business Network

De-materialization

Blockchain benefits

• Business-to-business (B2B)

• Electronic Data Interchange (EDI)

Participant interaction

Accessing the business network

with APIs

3-tier systems architecture

Summary

• Business Networks

• Describing business networks

• Introducing participants and assets

• Introducing transactions and events

• Implementing a business network