6533b7d9fe1ef96bd126c22f
RESEARCH PRODUCT
Using Blockchain in Digitalizing Enterprise Legacy Systems: An Experience Report
Taija KolehmainenGabriella LaatikainenErol KazanJoni KultanenPekka Abrahamssonsubject
CryptocurrencyverkkomaksaminenBlockchainKnowledge managementSmart contractsosiaalietuudetProcess (engineering)business.industryblockchain technologyCorporate governancemedia_common.quotation_subjectLegacy systemlohkoketjutPaymentsmart moneyMaturity (finance)Businesssmart contractdistributed ledger technologymedia_commondescription
Blockchain technology and distributed ledger technology (DLT) offer a secure, distributed, and tamper-proof way to store and exchange information. However, apart from standard cryptocurrency-based networks, innovations and process improvements based on the blockchain technology have mostly remained on the conceptualizing stage and have not yet reached mass adoption. There is a high demand for practical experiences from developing blockchain and DLT based systems in various domains outside FinTech. This work seeks to contribute to this gap by presenting real-world experiences from developing a proof of concept for automatizing conditional payments in social benefits and healthcare domains. We found that the key conditions for making these blockchain-based solutions viable are (1) attaining technological maturity and competences, (2) ecosystem thinking and adequate governance of these ecosystems, and finally (3) achieving legal and regulatory predictability. Furthermore, we discuss technological choice, business, and ethical considerations relevant to practitioners and research communities. peerReviewed
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2021-01-01 |