Improving business processes with blockchain: Model-driven generation of secure smart contract code
What is the project about?
This project aims at supporting businesses within finance to improve their business processes by giving them a tool to determine which of their business processes would benefit from being implemented as smart contracts using the so-called SecBPMN2BC framework. The SecBPMN2BC which has been proposed by the applicant and other researchers is a model-driven framework that allows users to model the security requirements that must hold for a business process, to determine which portions of the process should be run on a blockchain, and to generate smart contract code.
By modelling obligations among organizations as business processes, and by assessing to which extent security requirements can be enforced, the project will support businesses that are heavily regulated and is concerned about compliance (as the financial sector) as regulations and policies can often be expressed in the form of business processes or constraints on existing processes.
The project will be espeically relevant for companies working with open banking as one of the focus areas of the project is to make it possible to verify to which extent the requirements for open banking can coexist with compliance regulations and security requirements internal to financial institutions. This, together with blockchain technology, will simplify the disclosure of financial processes.
Danish Technical University
Giovanni Meroni, Assistent Professor, Department of Applied Mathematics and Computer Science