The transparency challenge of blockchain in organizations

[en] This position paper discusses the challenges of blockchain applications in businesses and the public sector related to an excessive degree of transparency. We first point out the types of sensitive data involved in different patterns of blockchain use cases. We then argue that the implications of blockchains’ information exposure caused by replicated transaction storage and execution go well beyond the often-mentioned conflicts with the GDPR’s “right to be forgotten” and may be more problematic than anticipated. In particular, we illustrate the trade-off between protecting sensitive information and increasing process efficiency through smart contracts. We also explore to which extent permissioned blockchains and novel applications of cryptographic technologies such as self-sovereign identities and zero-knowledge proofs can help overcome the transparency challenge and thus act as catalysts for blockchain adoption and diffusion in organizations.

Disciplines :

Computer science
Management information systems

Author, co-author :

Sedlmeir, Johannes ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX

Lautenschlager, Jonathan

Fridgen, Gilbert ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX

Urbach, Nils

External co-authors :

yes

Language :

English

Title :

The transparency challenge of blockchain in organizations

Publication date :

2022

Journal title :

Electronic Markets

ISSN :

1422-8890

Publisher :

Springer, Heidelberg, Germany

Volume :

Issue :

Pages :

1779--1794

Peer reviewed :

Peer Reviewed verified by ORBi

Focus Area :

Security, Reliability and Trust

Additional URL :

https://doi.org/10.1007/s12525-022-00536-0

FnR Project :

FNR13342933 - Paypal-fnr Pearl Chair In Digital Financial Services, 2019 (01/01/2020-31/12/2024) - Gilbert Fridgen

Available on ORBilu :

since 12 January 2023

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54 (6 by Unilu)

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56 (3 by Unilu)

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