TY - JOUR
T1 - Designing confidentiality-preserving Blockchain-based transaction processing systems
AU - Wang, Yunsen
AU - Kogan, Alexander
N1 - Funding Information:
Acknowledgement: The authors are thankful to Miklos A. Vasarhelyi, Michael Alles, Graham Gal, Hussein Issa, Uday Murthy, Robert Reimer, and the participants of the 26th Annual Research Workshop on Strategic and Emerging Technologies, 2017 Annual Meetings of the American Accounting Association, the UWCISA's 10th Biennial Symposium and the Ph.D. seminar at Rutgers University for useful comments. The authors are also thankful for the financial support from Rutgers Business School.
Publisher Copyright:
© 2018 Elsevier Inc.
PY - 2018/9
Y1 - 2018/9
N2 - Blockchain is one of the most disruptive and promising emerging technologies, and it appears to have the potential for significantly affecting the accounting and auditing fields. Using blockchain technology, zero-knowledge proof, and homomorphic encryption, this paper presents a design for a blockchain-based transaction processing system (TPS) and develops a prototype to demonstrate the functionality of the blockchain-based TPS in real-time accounting, continuous monitoring and fraud prevention. The computational performance of a blockchain-based TPS versus relational databases is evaluated and discussed. In anticipation of the wider applicability of blockchain technology to support enterprise information systems and continuous monitoring systems, this paper presents an innovative design that utilizes the advantages of blockchain technology while overcoming some of the key barriers to its adoption.
AB - Blockchain is one of the most disruptive and promising emerging technologies, and it appears to have the potential for significantly affecting the accounting and auditing fields. Using blockchain technology, zero-knowledge proof, and homomorphic encryption, this paper presents a design for a blockchain-based transaction processing system (TPS) and develops a prototype to demonstrate the functionality of the blockchain-based TPS in real-time accounting, continuous monitoring and fraud prevention. The computational performance of a blockchain-based TPS versus relational databases is evaluated and discussed. In anticipation of the wider applicability of blockchain technology to support enterprise information systems and continuous monitoring systems, this paper presents an innovative design that utilizes the advantages of blockchain technology while overcoming some of the key barriers to its adoption.
KW - Blockchain
KW - Continuous monitoring
KW - Information confidentiality
KW - Transaction processing systems
UR - http://www.scopus.com/inward/record.url?scp=85049003339&partnerID=8YFLogxK
U2 - 10.1016/j.accinf.2018.06.001
DO - 10.1016/j.accinf.2018.06.001
M3 - Article
AN - SCOPUS:85049003339
SN - 1467-0895
VL - 30
SP - 1
EP - 18
JO - International Journal of Accounting Information Systems
JF - International Journal of Accounting Information Systems
ER -