Integrated model-driven engineering of blockchain applications for business processes and asset management

Qinghua Lu, An Binh Tran, Ingo Weber, Hugo O'Connor, Paul Rimba, Xiwei Xu, Mark Staples, Liming Zhu, Ross Jeffery

Research output: Contribution to journalArticlepeer-review

41 Scopus citations

Abstract

Blockchain has attracted broad interests to build decentralised applications. A typical class of applications uses blockchain for the management of cross-organisational business processes as well as assets. However, developing such applications without introducing vulnerabilities is hard for developers, not the least because the deployed code is immutable and can be called by anyone with access to the network. Model-driven engineering (MDE) helps to reduce those risks, by combining proven code snippets as per the model specification, which is easier to understand than source code. Therefore, in this article, we present an approach for integrated MDE across business processes and asset management (e.g., for settlement). Our approach includes methods for fungible/non-fungible asset registration, escrow for conditional payment, and asset swap. The proposed MDE approach is implemented in a smart contract generation tool called Lorikeet, and evaluated in terms of feasibility, functional correctness, and cost effectiveness.

Original languageEnglish
Pages (from-to)1059-1079
Number of pages21
JournalSoftware: Practice and Experience
Volume51
Issue number5
DOIs
StatePublished - May 2021
Externally publishedYes

Keywords

  • asset
  • blockchain
  • business process
  • model-driven engineering
  • registry
  • smart contract

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