“…In this world, each physical ''thing'' has a digital representation with a unique identifier (e.g., the legal entity identifier of a corporate entity), and its information would be continuously updated and transmitted to related parties. Virtualization enables transparency throughout the value chain, with all business processes and their performance presented in detail (Schuh, Potente, Wesch-Potente, Weber, and Prote 2014). Management can detect problems and bottlenecks in real time through virtual process monitoring.…”