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Distributed Ledger Enabled Internet of Things Platforms: Symbiosis Evaluation: Volume II
Abstract
With the emergence of Internet platforms in the manufacturing domain, new implications have evolved for existing businesses which force them to find new business areas or adapt their products and services in order to create added value. Furthermore, generic platforms build on these domain specific platforms to offer services across business areas, which creates additional disruption potential. Manufacturing companies need to decide if they are to develop their own platform in order to connect machines on the shop floor to the internet or to other domains. Some of the requirements that appear for such platforms in the Internet of Things are explained in this chapter. Based on these requirements, technology classifications are thus designed.
... A meta-platform is a platform of platforms that coordinates and integrates different platforms' resources and solutions. (Billhardt et al., 2020;Burkhardt, Frey, Hiller, Neff, & Lasi, 2019;Savković, Schweigkofler, Savković, Riedl, & Matt, 2020). Meta-platforms are centralized efforts to organize collective actions by enforcing common policies, standards, and infrastructures (Chia, Keogh, Leorke, & Nicoll, 2020;Floetgen et al., 2021). ...
Data Marketplace Meta-platforms (DMMPs) federate the fragmented set of data marketplaces and are expected to become a pivotal instrument to realize a single European Data Market in 2030. However, one critical hindrance to foster the adoption of business data sharing via DMMPs is data providers' risk of losing control over data. Generally, the literature on interorganizational data sharing has highlighted that data governance mechanisms can help data providers to retain control over their data. Nevertheless, data governance mechanisms in the DMMP context are yet to be explored. Therefore, this research aims to design data governance mechanisms for business data sharing in DMMPs by employing the Design Science Research (DSR) approach. This study contributes to the literature by identifying root causes and consequences of losing control over data and defining prescriptive knowledge regarding design requirements, design principles, and a framework for designing data governance mechanisms within the novel setting of metaplatforms.
... A meta-platform is a platform of platforms that coordinates and integrates different platforms' resources and solutions. (Billhardt et al., 2020;Burkhardt, Frey, Hiller, Neff, & Lasi, 2019;Savković, Schweigkofler, Savković, Riedl, & Matt, 2020). Meta-platforms are centralized efforts to organize collective actions by enforcing common policies, standards, and infrastructures (Chia, Keogh, Leorke, & Nicoll, 2020;Floetgen et al., 2021). ...
Data Marketplace Meta-platforms (DMMPs) federate the fragmented set of data marketplaces and are expected to become a pivotal instrument to realize a single European Data Market in 2030. However, one critical hindrance to foster the adoption of business data sharing via DMMPs is data providers' risk of losing control over data. Generally, the literature on inter-organizational data sharing has highlighted that data governance mechanisms can help data providers to retain control over their data. Nevertheless, data governance mechanisms in the DMMP context are yet to be explored. Therefore, this research aims to design data governance mechanisms for business data sharing in DMMPs by employing the Design Science Research (DSR) approach. This study contributes to the literature by identifying root causes and consequences of losing control over data and defining prescriptive knowledge regarding design requirements, design principles, and a framework for designing data governance mechanisms within the novel setting of meta-platforms.
... Emerging digital technologies provide alternatives to present centralized approaches and solve critical problems, such as trust issues (Giusti et al., 2019). For instance, distributed ledger technology (DLT) and blockchain as a concept of DLT enable permanent, immutable, and transparent recordkeeping of transactions in decentralized systems (Burkhardt et al., 2019). The joint use of innovative technologies along the supply chain shows great potential for addressing information needs and reducing sustainability-related uncertainty (Busse et al., 2017). ...
Current research on smart contracts focuses on technical, conceptual, and legal aspects but neglects organizational requirements and sustainability impacts. We consider this a significant research gap and explore the relationship between smart contracts and sustainability in supply chains. First, we define the concept of smart contracts in terms of supply chain management. Then, we conduct a content analysis of the literature to explore the overlapping research fields of smart contracts and sustainability in supply chains. Next, we develop a semi-structured assessment framework to model the potential environmental and social impacts induced by smart contracts on supply chains. We propose a conceptual framework for supply chain maturity by mapping the relationships between organizational development, sustainability, and technology. We identify smart contracts as a foundational technology that enables efficient and transparent governance and collaborative self-coordination of human and non-human actors. Thus, we argue that smart contracts can contribute to the economic and social development of networked value chains and Society 5.0. To stimulate interdisciplinary research on smart contracts, we conclude the article by formulating research propositions and trade-offs for smart contracts in the context of technology development, business process and supply chain management, and sustainability.
... Another type of famous DLT is based on Directed Acyclic Graph in which transactions are stored on vertices of a graph and new transactions are added based on some algorithm like in IOTA [4] transaction will be added after validating two other transactions. IOTA, Nano, Hashgraph [5] etc. are some of the applications of DAG based DLT. Another type of DLT is known as Radix in which a distributed database is used to store transactions. ...
Distributed ledger technology is a system of recording digital transactions in an immutable ledger that is distributed across different locations. It is getting popular day by day not only in the public domain but also among enterprises. Various industry experts are working together to maximize the benefits of distributed ledger technology without affecting their current system flow. Distributed ledger technology not only provides a system of trust between untrusted parties, but it can also be used to improve system security with the use of complex cryptography. Enterprises are interested in distributed ledger technology because it can help in reducing cost and time of transactions but they can’t use public ledgers as transactions and business processes should be hidden from everyone except authorized users only. The heart of distributed ledger technology is consensus algorithms which help in the settlement of transactions. Different consensus algorithms that can be helpful to enterprises are reviewed, analyzed, categorized and simplified flow is shown in pictorial form along with their limitations that helps the enterprise to choose best consensus algorithms for their implementation of distributed ledgers.
This chapter aims to develop a holistic view of the blockchain business model framework with the role of dynamic capability. The study conceptualizes a dynamic capability framework with blockchain properties and business model understanding. The traditional approach to a business model with new technological improvements is the lack of defining the necessary business values that are captured and created from the digital environment. Specifically, blockchain technology generates additional properties that can even disrupt digital business processes. Therefore, it is necessary to build a new business model framework other than digitalization for blockchain technology to disclose disruptive values for guidance on business strategy. The study explains the detailed properties of the blockchain and classical business model and its logic. Later, a dynamic capability framework is combined with these views to establish a new business model for blockchain. This framework is the beginning for businesses that invest in blockchain to understand holistically how to extract the disruptive values out of blockchain technology and applications. Therefore, the study contributes to the businesses that invest in blockchain technology to realize the new benefits by changing traditional processes and distinctive capability which they will gain with the blockchain technology.
Lack of interoperability between Internet of Things (IoT) platforms, systems, and applications is one of serious problems that prevents its even more rapid adoption. As long as individual IoT platforms cannot meaningfully communicate with each other, the vision of a global IoT ecosystem will not be realized. While the problem of IoT interoperability can be considered at different levels, starting from hardware interoperability at the bottom of the stack, we are interested in the semantic interoperability, which can be seen as the meta-level for all interoperability considerations. In other words, the aim of this chapter is to consider how multiple IoT platforms can “understand” each other and have meaningful “conversation”.
Blockchain is an emerging technology for decentralised and transactional data sharing across a large network of untrusted participants. It enables new forms of distributed software architectures, where agreement on shared states can be established without trusting a central integration point. A major difficulty for architects designing applications based on blockchain is that the technology has many configurations and variants. Since blockchains are at an early stage, there is little product data or reliable technology evaluation available to compare different blockchains. In this paper, we propose how to classify and compare blockchains and blockchain-based systems to assist with the design and assessment of their impact on software architectures. Our taxonomy captures major architectural characteristics of blockchains and the impact of their principal design decisions. This taxonomy is intended to help with important architectural considerations about the performance and quality attributes of blockchain-based systems.
This paper presents a comparison of five general-use blockchain platforms. We first discuss how the blockchain is used in Bitcoin, before looking at how blockchain technology can be used in applications outside of Bitcoin. We conduct an investigation into the blockchain platforms available for users to build custom applications on top of. We conclude with a summary of our findings and some suggestions for future work.
This paper addresses the data, information and knowledge management challenges in product lifecycle management (PLM) using novel industrial internet/industry 4.0/cyber-physical system platforms. PLM is quite seminally related to data, information and knowledge, and about getting these properly to serve a company’s business and product development as well as to create value for the customer. We analyze Industry platforms, that are enabled by industrial internet based technologies as well as certain collaboration and social media platforms that help solving certain PLM challenges. This analysis will allow companies to make informed decisions while selecting platforms to solve their PLM challenges.
Internet of things is empowering the things to
access internet. Thus the
environment is monitored by sensing the environment and the data are transferred to
cloud by internet connectivity of the things. The monitoring environment comes closer in
spite of distance. There are several platforms that provide services such as data a
nalytics,
business analytics, notification, etc. Each platform provides a specific service. This paper
mainly aims to give an overview of various platforms for IOT. This would help the users to
choose their platform that is suitable for their application.
Internet-of-Things (IoT) platform (often referred to as IoT middleware) is a software that enables connecting the machines and devices and then acquisition, processing, transformation, organization and storing machine and sensor data. The objective of the research behind this paper is to establish a state of the art in the development of IoT platforms. In specific, here we present the main conclusions regarding the functional and design perspective to current IoT platforms and related research. The focus was made on cloud-based IoT platforms with significant user base and successful record of exploitation. We also consider the relevant theoretical foundations of IoT platform research, mostly by taking into account the results of European research. The conclusions and respective discussion are meant to be used in the development of a formal runtime model-driven IoT platform, which conceptual design decisions are shortly presented.
One of the buzzwords in the Information Technology is Internet of Things (IoT). The future is In-ternet of Things, which will transform the real world objects into intelligent virtual objects. The IoT aims to unify everything in our world under a common infrastructure, giving us not only control of things around us, but also keeping us informed of the state of the things. In Light of this, present study addresses IoT concepts through systematic review of scholarly research papers, corporate white papers, professional discussions with experts and online databases. Moreover this research article focuses on definitions, geneses, basic requirements, characteristics and aliases of Internet of Things. The main objective of this paper is to provide an overview of Internet of Things, architectures, and vital technologies and their usages in our daily life. However, this manuscript will give good comprehension for the new researchers, who want to do research in this field of Internet of Things (Technological GOD) and facilitate knowledge accumulation in efficiently .
Widespread adoption of Internet of Things (IoT) applications assumes a sustainable ecosystem of firms creating, distributing, and using these applications. Such an ecosystem often forms around a platform that implements commonly used functionality and offers it to the members of the ecosystem for creating applications and services. In IoT, such a platform may be materialized in a form of a cloud platform that supports the management of connected devices, and the development and use of the applications based on them. A number of cloud platforms targeting IoT applications are available in the market; to prosper, they need to assist the providers of the IoT applications in designing and developing the applications, as well as in deploying and operating the application software. In this paper, a framework for evaluating the IoT platforms from the perspective of how widely they cover the potential needs of the application providers is introduced. Based on the framework, the maturity of the available IoT platforms is evaluated, by using the publicly available information about the platforms' features and supporting services. As the results of this initial analysis suggest, none of the platforms today offers the comprehensive support. This can be seen as a factor contributing to a slow adaption of the IoT platforms, and therefore to the slower-than-expected takeoff of the IoT ecosystem in general. http://dx.doi.org/10.1109/WF-IoT.2014.6803137
This paper brings together the recent literature on industry platforms and shows how it relates to managing innovation within and outside the firm as well as to dealing with technological and market disruptions and change over time. First, we identify distinct types of platforms. Our analysis of a wide range of industry examples suggests that there are two predominant types of platforms: internal or company-specific platforms, and external or industry-wide platforms. We define internal (company or product) platforms as a set of assets organized in a common structure from which a company can efficiently develop and produce a stream of derivative products. We define external (industry) platforms as products, services, or technologies that act as a foundation upon which external innovators, organized as an innovative business ecosystem, can develop their own complementary products, technologies, or services. Second, we summarize from the literature general propositions on the design, economics, and strategic management of platforms. Third, we review the case of Intel and other examples to illustrate the range of technological, strategic, and business challenges that platform leaders and their competitors face as markets and technologies evolve. Finally, we identify practices associated with effective platform leadership and avenues for future research to deepen our understanding of this important phenomenon and what firms can do to manage platform-related competition and innovation.
The technologies and applications consolidated under the vision of Internet of Things (IoT) and Machine to Machine Communications (M2M) are attracting the interest of businesses and poised to trigger next disruption in Information & Communication Technology (ICT) applications. The domain specific solutions involving sensors, mobile phones and other devices are maturing to integrate in a generic ICT services paradigm. Architecture for a unified horizontal services platform is emerging. This paper surveys important trends, key requirements, evolving technologies and emerging solutions for such a software platform for IoT and M2M services.
In competitive environment of quick market changes, developing an interoperable manufacturing system is a necessity. To realise interoperability, the exchange of part and product data must be independent of their platforms. There are two basic approaches for this purpose: i) utilising interfaces; ii) utilising neutral formats. Standard for the Exchange of Product data (STEP) plays a significant role as a neutral data model to integrate design, manufacturing and other activities in product life cycle. To implement a Universal Manufacturing Platform (UMP), a systematic roadmap is required. The current paper proposes such a roadmap using the methodology of Axiomatic Design (AD). [Received 12 February 2009; Revised 2 July 2009; Accepted 25 October 2009]
Much has been written about networks, strategic alliances, and virtual organizations. Yet these currently popular frameworks provide little systematic assistance when it comes to out-innovating the competition. That's because most managers still view the problem in the old way: companies go head-to-head in an industry, battling for market share. James Moore sets up a new metaphor for competition drawn from the study of biology and social systems. He suggests that a company be viewed not as a member of a single industry but as a part of a business ecosystem that crosses a variety of industries. In a business ecosystem, companies "co-evolve" around a new innovation, working cooperatively and competitively to support new products and satisfy customer needs. Apple Computer, for example, leads an ecosystem that covers personal computers, consumer electronics, information, and communications. In any larger business environment, several ecosystems may vie for survival and dominance, such as the IBM and Apple ecosystems in personal computers or Wal-Mart and K mart in discount retailing. In fact, it's largely competition among business ecosystems, not individual companies, that's fueling today's industrial transformation. Managers can't afford to ignore the birth of new ecosystems or the competition among those that already exist. Whether that means investing in the right new technology, signing on suppliers to expand a growing business, developing crucial elements of value to maintain leadership, or incorporating new innovations to fend off obsolescence, executives must understand the evolutionary stages all business ecosystems go through and, more important, how to direct those changes.
Distributed Ledger (DL) has gained huge attention in the last years and will shift the conduction of business in the future. Until today, because of the great dynamics in the field a systematic approach to structure and define the field of DL does not exist. This led to a heterogeneous landscape of DL definitions and thus, misleading discussions. This paper gives a systematic overview of principles relevant to understand and structure the DL field. Furthermore, based on this it describes DL concepts and shows examples of protocols. The result can then be used for further research but also as a basis for successful collaborations in the field of DL.
The last fifteen years have witnessed an explosion in the popularity, creativity, and productiveness of economic sociology, an approach that traces its roots back to Max Weber. This important new text offers a comprehensive and up-to-date overview of economic sociology. It also advances the field theoretically by highlighting, in one analysis, the crucial economic roles of both interests and social relations. Richard Swedberg describes the field's critical insights into economic life, giving particular attention to the effects of culture on economic phenomena and the ways that economic actions are embedded in social structures. He examines the full range of economic institutions and explicates the relationship of the economy to politics, law, culture, and gender. Swedberg notes that sociologists too often fail to properly emphasize the role that self-interested behavior plays in economic decisions, while economists frequently underestimate the importance of social relations. Thus, he argues that the next major task for economic sociology is to develop a theoretical and empirical understanding of how interests and social relations work in combination to affect economic action. Written by an author whose name is synonymous with economic sociology, this text constitutes a sorely needed advanced synthesis--and a blueprint for the future of this burgeoning field.
Smart contracts combine protocols with user interfaces to formalize and secure relationships over computer networks. Objectives and principles for the design of these systems are derived from legal principles, economic theory, and theories of reliable and secure protocols. Similarities and differences between smart contracts and traditional business procedures based on written contracts, controls, and static forms are discussed. By using cryptographic and other security mechanisms, we can secure many algorithmically specifiable relationships from breach by principals, and from eavesdropping or malicious interference by third parties, up to considerations of time, user interface, and completeness of the algorithmic specification. This article discusses protocols with application in important contracting areas, including credit, content rights management, payment systems, and contracts with bearer.
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