Analysis Of Blockchain Technology Usage For Business Process Management

Abstract

Blockchain is a distributed data storage technology that contains information about all transactions of the system participants in the form of "blockchain". Blockchain offers a way to reliably execute processes, ensures stable operation, eliminates the possibility of duplication of information and reduces costs. The promising technology is rapidly gaining popularity and is being implemented in various fields, including business process management. However, while blockchain technology has been around for several years, many business leaders are still not familiar enough with it because little information is available, and blockchain technology has not yet been widely applied to enterprise infrastructure. Therefore, blockchain technology for business process management remains a hot topic, and the significant benefits of blockchain technology in improving business efficiency cannot be overlooked. Thus, this article will discuss the main features of blockchain technology use in business process management. The main advantages of technology implementation and its disadvantages are also given, the problems that may be faced by business executives are considered. In addition, the important aspects of using blockchain technology in business process management are analyzed.