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From Dr. Alexander Samarin: What Business Process improvement opportunities does blockchain technology enable?
Walter Bril Accepted Answer
Depends a bit on what blockchain we talk about... When referring to the most purest form, a public blockchain, the impact might be as big as in wiping out your entire business; quite some improvement I'd say, not necessarily for your own business though...

However, looking at exchanging value within your own business, thus talking intranet or private blockchain, you still might see huge impact.

As blockchain technology basically eliminates intermediate steps.

Look at what's happening in banks currently. Clearance & settlement processes can become much cheaper. But again: That's ignoring the outside reality...
Comment
David Chassels Accepted Answer
Very topical question and on my agenda to see seamless global payments linked direct to the operational process to set up distribution of funds for projects. 9 out of 10 big banks currently looking seriouly at blockchain as the "ledger" system to record and account for transactions. This is a big opportunity to see all the processes surrounding these tranactions joined up to delivery full security, transparency and accountability.
Comment
Patrick Lujan Accepted Answer
Blog Writer
I got nothing but popcorn and root beer for this one as I sit back and watch. I call great "business," not process improvement, opportunities for vendors and consultants both, multiple nicks, cuts and a fair amount of bleeding edge for the foreseeable future for the end-client business community.
Comment
Pass the popcorn. Thanks.
  1. E Scott Menter
  2. 3 weeks ago
How much bitcoin for a bag of popcorn?
  1. Emiel Kelly
  2. 3 weeks ago
Brian Reale Accepted Answer
Blog Writer
As David says, Blockchain is considered to be the future of ledger systems. This will have a big impact for business processes especially where approvals, time stamps, and audit trails are concerned. Interestingly, there are now various blockchain based cryptocurrencies on the market, each with a slightly different feature set and use case. It will be interesting to see how these features and use cases inform the development of none cryptocurrency applications.
Comment
The most “generic” blockchain-enabled application is a Multi-Sourced (many owners of information) and Distributed (many data-set copies under various ownership) Record Storage (MSDRS). All other blockchain-based applications are extensions/variations of this MSDRS.

As we know, the majority of business processes operate WITHIN an enterprise. Now, imagine, two business parties execute a contract which is, actually, an end-to-end business process OUTSIDE both business parties. (See ref1 “Digital-contract-as-a-process enables business in the digital world”.)

Thus each of those business parties has to implement their own (WITHIN the enterprise) set of business processes for supporting that contract. Unfortunately, it is a very rare situation when all these business processes are considered together (from both business parties) for their validation.

Now, imagine that there will be an OUTSIDE business process (explicit and machine-executable) which is used and fully trusted by those business parties. Less internal problems, higher quality of information, guaranteed consistency, one source of truth, higher implementation speed (just plug your internal apps to it), truly end-to-end span (not fragmented clearance & settlement), etc.

Of course, such an OUTSIDE business process is sort of BPO which is based on blockchain MSDRS. Thus “As blockchain technology basically eliminates intermediate steps.” by enabling new fully validatable intermediaries. Not fully automated because some exceptional cases will need human intervention.

Provisioning of such BPO may be a new business for some established BPM providers, because examples of contracts-as-business-processes are numerous – they even cover CX.

Thanks,
AS
References
  1. http://improving-bpm-systems.blogspot.ch/2016/07/digital-contract-as-process-enables.html
Comment
Bogdan Nafornita Accepted Answer
I think the future of blockhain has been promising for the past few years. It's still in the "promising" stage. There's a lot of motion in the space, can't see yet an emerging trend or direction in end-customer solutions. Definitely something to watch carefully, but... I'll get the root beer for now.
Managing Founder, profluo.com
Comment
We have what we think is needed for blockchain except for a couple of key steps . . .

Anything missing in the following ???

outgoing
-----------

run-time BPMS\process step -> data post to data exchanger -> read -> format (given that different parties need different formats) -> encrypt -> 3rd party pickup

becomes

run-time BPMS\process step -> post to data exchanger ->read -> format -> encrypt -> move to outgoing directory -> push

incoming
------------

decrypt -> parse -> post to data exchanger -> read into BPMS

becomes

pull -> decrypt -> parse -> post to data exchanger -> read into run-time BPMS

within the BPMS
---------------------

outbound - all data that needs to be shared is currently being mirrored to our data exchanger - no new processing required

inbound - process steps that expect messages from blockchain need to be have "process control steps" immediately upstream from process steps so that they can check for incoming data and hold up processing until the required data is present.
Comment
There are two options
1) keep all data to be exchanged in a blockchain-based records storage (whcih may be slow and expensive)
2) keep all data to be exchanged in a dedicated storage (like Dropbox) with folder-per-transaction and save data hashes in a blockchain-based records storage (it may be public) - see http://improving-bpm-systems.blogspot.ch/2016/07/electronic-health-records-ehr.html

After the completion of a process instance, all intermediate data storage must be purged.
  1. Dr Alexander Samarin
  2. 3 weeks ago
Alberto Manuel Accepted Answer
Blog Writer
Blockchain is already being used with some good examples like for example:

For example, in Honduras, Factom is working with the government to build a secure land-title registry.

In the financial industry, blockchain technologies can save money by eliminating central authorities and bypassing slow, expensive payment networks. blockchain technologies are a key subject for further study for transaction banking and payment professionals, especially against the background of evolving financial infrastructures. The potential inherent in bringing more transparent, more secure, lower-cost blockchain technology to financial services cannot be ignored. In trade finance, traditionally a paper-intensive, error prone, cumbersome process, which Blockchain can serve to digitize and validate records. Potential for secure transactions with digital records of related data, which is accessible to all participants involved in the trade, even if they do not do banking with the financial institutions involved in the transactions.

The key to the growing interest and investment in blockchain technology is its use of complex and immutable cryptology that cannot be hacked, which opens up an exciting new business models. It is another axe in the middleman.
Comment
The middleman is dead, long live the service! Thus actual end-to-end processes between business parties (also known as contracts) can be explicit, machine-executable, automated to a greater extent and outsourced. Certainly those processes are a golden opportunity for the BPM industry.
  1. Dr Alexander Samarin
  2. 3 weeks ago
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