Process Automation

Conventional business process management is based on services that are handled internally within single functions, division, and organizations. Automated business processes and workflows, on the contrary, can only be established, if a centralized repository of information is held between actors. Where a BC- and DLT-based solution creates a redundant repository through a fully distributed peer-to-peer system, multiple actors can exchange information while guaranteeing the integrity of the process. The rules and guidelines that define workflows on the BC are programmed into smart contracts in form of executable code segments. Within the system all specific steps are verified and enforced. Participants conforming with those rules can be ensured that the correct steps are being taken.

This leads to a new way of seamless integration and real time auditing, where every party maintains data sovereignty without centralized control. The areas of applications range from logistics and administration to the triggering of entire independent workflows in combination with the Internet of Things (IoT) and Artificial Intelligence (AI) [1].