Shared ledger accounting: Implementing the economic exchange pattern in DL technology.
Weigand,Hans Blums,Ivar de Kruijff,Joost
Weigand,Hans
Blums,Ivar
de Kruijff,Joost
Abstract
DLT suggests a new way to implement the Accounting Information System, but after reviewing the current literature our conclusion is that an ontologically sound consensus-based design is missing to date. Against this research gap, the paper introduces a DLT-based shared ledger solution in a formal way and compliant with Financial Reporting Standards. We build on the COFRIS accounting ontology (grounded in UFO-S) and the blockchain ontology developed by De Kruijff & Weigand that distinguishes between a Datalogical level, an Infological and an Essential (conceptual) level. It is shown how consensual and agent-specific parts of the business exchange transaction can be represented in a concise way, and how this pattern can be implemented using Smart Contracts.
Description
Date
2018-06
Journal Title
Journal ISSN
Volume Title
Publisher
Springer Verlag
Research Projects
Organizational Units
Journal Issue
Keywords
Citation
Weigand, H, Blums, I & de Kruijff, J 2018, Shared ledger accounting : Implementing the economic exchange pattern in DL technology. in J krogstie & H reijers (eds), Advanced Information Systems Engineering : Proceedings of the 30th International Conference on Advances Information Systems Engineering (CAiSE 2018). vol. 10816, Lecture Notes in Computer Science, vol. 10816, Springer Verlag, Tallinn, pp. 342-356, 30th International Conference on Advanced Information Systems Engineering, Tallinn, Estonia, 11/06/18.