WO2020115697A1

WO2020115697A1 - Blockchain data processing system and method of operation thereof

Info

Publication number: WO2020115697A1
Application number: PCT/IB2019/060478
Authority: WO
Inventors: Thorsten STÄNDER; Thomas Christiansen
Original assignee: Ernst & Young Gmbh Wirtschaftsprüfungsgesellschaft
Priority date: 2018-12-05
Filing date: 2019-12-05
Publication date: 2020-06-11
Also published as: GB2579594A; GB201819821D0

Abstract

Disclosed is a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that: (a) entries added by the blockchain data processing system to a blockchain of the blockchain arrangement are implemented by way of one or more smart contracts, wherein the entries are managed by a ledger arrangement of the blockchain arrangement; (b) the blockchain is used to record steps and/or results of purchase-to-pay and order-to-cash processes to provide the fully-integrated workflow; and (c) the blockchain data processing system operates to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, wherein the blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

Description

BLOCKCHAIN DATA PROCESSING SYSTEM AND METHOD OF

OPERATION THEREOF

TECHNICAL FIELD The present disclosure relates generally to hardware systems that are useable for executing data processing and maintenance; and more specifically, to blockchain data processing systems including user interfacing arrangements, data processing arrangements and database arrangements that function in combination to provide blockchain arrangements to provide a fully-integrated workflow. Furthermore, the present disclosure also relates to methods of (for) operating the aforesaid blockchain data processing systems. Moreover, the present disclosure also relates to software products comprising non-transitory machine- readable data storage mediums having stored thereon program instructions, the program instructions being accessible by processing devices to execute the aforementioned methods.

BACKGROUND

In this era of globalization, several enterprises such as business organisations, manufacturing firms, ventures, governmental organisations, non-profit organisations and the like, have come into existence for providing goods and services to a plurality of users. Typically, entities transact with each other for several purposes such as selling and/or buying of goods and services, collaborating for producing goods and services, and so forth. Generally, transactions between the entities take place manually and/or electronically and require multiple records, journals, receipts and so forth associated therewith, to be maintained by all entities involved in such transactions to avoid any discrepancy. Typically, for a given transaction, the entities partake in multiple rounds of interactions with each other, thereby, allowing for creation of records, journals, receipts associated with the given transaction. These records, journals, receipts constitute data associated with the given transaction. This data is generally comprehensive in nature and provides considerable financial details and non-financial details associated with the given transaction. Consequently, this leads to substantial time and resource consumption by the entities, for maintenance of such data. Generally, all the entities involved in the given transaction maintain separate copies of the data associated with the given transaction. Therefore, there is unnecessary repetition, redundancy and duplicity of the data associated with the given transaction. In an example, separate bills relating to a transaction such as purchase of machines by a garment manufacturing enterprise from a machine manufacturing enterprise are maintained and stored by both the garment manufacturing and machine manufacturing enterprises involved in the transaction. There is often a lack of consistency within data values and form of the data (associated with the given transaction) stored by different enterprises as all the enterprises maintain their own records in their own required form. Therefore, there exists a chance of fraudulent information or misstatements being present in such disparately-stored data. Moreover, managing such data associated with the given transaction is cumbersome. In particular, aggregating and systematically organising data associated with various transactions from various entities involved in the transactions poses a significant challenge pertaining to data acquisition, data recording, and data analysis. Providing specialized computing hardware that is specifically configured to be able to securely collate and manage transaction-related data from disparate and often distributed entities is a technical problem associated with known technical art. Currently available computing hardware inadequately addresses this technical problem of collating and managing transaction-related data from various entities, wherein the transaction-related data is not limited merely to financial details, but also includes non-financial details associated with transactions between the entities. Moreover, the currently available computing hardware are expensive, cumbersome, and computationally inefficient as they are unable to adequately address the technical problem of data redundancy, duplicity, and inconsistency.

Therefore, in light of the foregoing discussion, there exists a need to overcome the aforementioned drawbacks associated with conventional systems for managing transactions between entities; in particular, there is a need to provide computing systems that are specially configured for collecting transaction-related data from various entities, managing the transaction-related data from various entities, and allowing the entities to seamlessly engage in transactions with other entities. There is a need to provide computing systems that effectively mitigate problems of data redundancy, duplicity, and inconsistency within the transaction-related data from various entities.

SUMMARY

The present disclosure seeks to provide an improved blockchain data processing system for providing a fully-integrated workflow of transactions between transacting parties by systematically collating transaction-related data, maintaining a detailed log of steps and results of processes involved in the transactions, and enabling the transacting parties to seamlessly undertake the transactions via a fully-integrated workflow tool. The present disclosure also seeks to provide an improved method of (for) operating a blockchain data processing system. The method utilizes technical means (namely, the blockchain data processing system) to provide a technical solution that enables secure and quick data collection, data visualization, data processing, and data analysis, whilst also ensuring mitigation of redundancy, duplicity, and inconsistency within data.

The present disclosure also seeks to provide a software product comprising non-transitory machine-readable data storage mediums having stored thereon program instructions, the program instructions being accessible by a processing device to execute a method of (for) operating a blockchain data processing system.

The present disclosure seeks to provide a solution to the existing problems such as inconsistency, redundancy, fraudulency and substantial manual involvement related to management of data associated with a given transaction. An aim of the present disclosure is to provide a solution that overcomes partially the problems encountered in the prior art and allows for implementing reliable, efficient and effective management of data associated with the given transaction. Beneficially, the solutions described in the present disclosure can be easily integrated into existing hardware infrastructure of transacting entities (namely, transacting parties). Notably, the described blockchain data processing arrangement and method also allow for substantially reducing an amount of time and resource consumption involved in manually maintaining and auditing data associated with the given transaction.

In one aspect, an embodiment of the present disclosure provides a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that:

(a) entries added by the blockchain data processing system to a blockchain of the blockchain arrangement are implemented by way of one or more smart contracts, wherein the entries are managed by a ledger arrangement of the blockchain arrangement;

(b) the blockchain is used to record steps and/or results of purchase- to-pay and order-to-cash processes to provide the fully-integrated workflow; and

(c) the blockchain data processing system operates to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, wherein the blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

In another aspect, an embodiment of the present disclosure provides a method of (for) operating a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that the method includes:

(a) arranging for entries added by the blockchain data processing system to a blockchain of the blockchain arrangement to be implemented by way of one or more smart contracts, wherein the entries are managed by a ledger arrangement of the blockchain arrangement;

(b) using the blockchain to record steps and/or results of purchase-to- pay and order-to-cash processes to provide the fully-integrated workflow; and (c) operating the blockchain data processing system to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, the blockchain data processing system employing an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

In yet another aspect, an embodiment of the present disclosure provides a software product comprising non-transitory machine-readable data storage mediums having stored thereon program instructions, the program instructions being accessible by a processing device to execute a method of (for) operating a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that the method includes:

(b) using the blockchain to record steps and/or results of purchase-to- pay and order-to-cash processes to provide the fully-integrated workflow; and

(c) operating the blockchain data processing system to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, wherein the blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow. Embodiments of the present disclosure substantially eliminate or at least partially address the aforementioned problems in the prior art, and enables efficient, quick, secure and transparent management of workflow data associated with transactions between entities. Additional aspects, advantages, features and objects of the present disclosure would be made apparent from the drawings and the detailed description of the illustrative embodiments construed in conjunction with the appended claims that follow. It will be appreciated that features of the present disclosure are susceptible to being combined in various combinations without departing from the scope of the present disclosure as defined by the appended claims.

BRIEF DESCRIPTION OF THE DRAWINGS The summary above, as well as the following detailed description of illustrative embodiments, is better understood when read in conjunction with the appended drawings. For the purpose of illustrating the present disclosure, exemplary constructions of the disclosure are shown in the drawings. However, the present disclosure is not limited to specific methods and instrumentalities disclosed herein. Moreover, those in the art will understand that the drawings are not to scale. Wherever possible, like elements have been indicated by identical numbers.

Embodiments of the present disclosure will now be described, by way of example only, with reference to the following diagrams wherein: FIG. 1 illustrates a block diagram of a blockchain data processing system, in accordance with an embodiment of the present disclosure;

FIG. 2 is a schematic illustration of an environment of interaction of the blockchain data processing system (of FIG. 1) and transacting parties coupled to the blockchain data processing system, in accordance with an embodiment of the present disclosure; FIG. 3 is a schematic illustration of a bilateral channel between transacting parties, in accordance with an embodiment of the present disclosure;

FIG. 4 is an illustration of steps of a method of (for) operating a blockchain data processing system, in accordance with an embodiment of the present disclosure; and

FIG. 5 is an illustration of an exemplary sequence diagram of interactions of a buyer and a seller with a blockchain data processing system, in accordance with an embodiment of the present disclosure. In the accompanying drawings, an underlined number is employed to represent an item over which the underlined number is positioned or an item to which the underlined number is adjacent. A non-underlined number relates to an item identified by a line linking the non-underlined number to the item. When a number is non-underlined and accompanied by an associated arrow, the non-underlined number is used to identify a general item at which the arrow is pointing.

DETAILED DESCRIPTION OF EMBODIMENTS

The following detailed description illustrates embodiments of the present disclosure and ways in which they can be implemented. Although some modes of carrying out the present disclosure have been disclosed, those skilled in the art would recognize that other embodiments for carrying out or practising the present disclosure are also possible.

In one aspect, an embodiment of the present disclosure provides a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that: (a) entries added by the blockchain data processing system to a blockchain of the blockchain arrangement are implemented by way of one or more smart contracts, wherein the entries are managed by a ledger arrangement of the blockchain arrangement; (b) the blockchain is used to steps and/or record results of purchase- to-pay and order-to-cash processes to provide the fully-integrated workflow; and

In another aspect, an embodiment of the present disclosure provides a method of (for) operating a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that the method includes: (a) arranging for entries added by the blockchain data processing system to a blockchain of the blockchain arrangement to be implemented by way of one or more smart contracts, wherein the entries are managed by a ledger arrangement of the blockchain arrangement;

(c) operating the blockchain data processing system to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, the blockchain data processing system employing an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow. In yet another aspect, an embodiment of the present disclosure provides a software product comprising non-transitory machine-readable data storage mediums having stored thereon program instructions, the program instructions being accessible by a processing device to execute a method of (for) operating a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that the method includes:

(c) operating the blockchain data processing system to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, wherein the blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

The present disclosure provides the aforementioned system, the aforementioned method, and the aforementioned software product to provide a blockchain arrangement to provide a fully-integrated workflow. Beneficially, the blockchain data processing system described herein can be easily integrated with existing enterprise resource planning systems of transacting parties. Furthermore, the blockchain data processing system described herein uses blockchain technology for implementing the blockchain arrangement. As a result, the blockchain data processing system allows for a transparent, secure and tamper-proof maintenance of transaction records between the transacting parties. Beneficially, the blockchain data processing system allows for real-time auditing of the transaction records between the transacting parties. Notably, the real time auditing of the transaction records reduces time and effort associated with auditing, whilst preventing fraudulent entries from being added to the blockchain data processing system since the auditor can quickly inspect the entries as transactions are occurring. Furthermore, the blockchain data processing system provides for a hassle-free, paperless and transparent solution for maintaining transaction logs. The method described herein is time-efficient, cost efficient, and provides a minimal resource consuming solution for maintaining the transaction records. Notably, the method described herein uses encryption and security techniques for managing workflow transactions of the transacting parties. As a result, the method provides a secured and transparent approach for maintenance of transaction records between the transacting parties. Additionally, the blockchain data processing system and method described herein are user-friendly. Throughout the present disclosure the term " blockchain " refers to a decentralized, consensus based, and a continuously growing list of blocks (namely, entries, records) that are linked together. Specifically, the blocks of a blockchain are secured by means of cryptographic techniques such as hashing, digital signature and the like. Additionally, optionally, each of the blocks in the blockchain are timestamped and contain information about a previous block. Notably, a given block in the blockchain contain entries (namely, data records, financial information, non-financial information, and the like) associated with a transaction between two or more transacting parties. As an example, a given block within the blockchain may include details (for example, such as name and address) of a buyer of goods, details (for example, such as name and address) of a seller of goods, a transaction id of an order placed by the buyer to the seller, a date of making the transaction, a transaction invoice, a date of completing the transaction, and the like.

It will be appreciated that the blockchain optionally allows for achieving consensus, wherein the term " consensus " refers to a general agreement between the two or more transacting parties regarding a given concept/object. The consensus relates to a mutual understanding and acceptance of entries associated with the transaction. Such entries relate to attributes of the transaction (for example, what the transaction is about), a state of the transaction (for example, whether the transaction is pending or complete), value of the transaction, and the like. In an example, consensus may be achieved by producing proof of work, voting and the like.

In an embodiment, a given blockchain contains entries associated with a single transaction between the two or more transacting parties. In such a case, when the two or more transacting parties undertake a plurality of transactions therebetween, a plurality of blockchains are employed to contain entries associated with the plurality of transactions, wherein one blockchain contains entries of one transaction. In an example, a housing society makes a transaction for purchase of annual subscription of newspapers and magazines from a book seller, for a period of two years. Consequently, entries associated with the transaction for purchase of subscription in a given year are added to a blockchain. Furthermore, entries associated with the transaction for purchase of subscription in another year are added to another blockchain. In other words, every time a new transaction is initiated between the housing society and the book seller, entries corresponding thereto are added to a new blockchain.

In another embodiment, a given blockchain contains entries associated with one or more transactions between the two or more transacting parties. Such an embodiment is extremely useful when a number of transactions between the two or more transacting parties is very high. In an example, a hospital makes a transaction for purchase of medicines from a pharmaceutical company every month, for a period of 1 year. Furthermore, entries associated with 12 transactions for purchase of medicines over the period of 1 year, are added to a single blockchain dedicated for the transactions between the hospital and the pharmaceutical company. Such a single blockchain may include 12 blocks including 12 entries, wherein a given entry of a given block relates to a transaction for a given month. Furthermore, the term " blockchain arrangement" relates to an arrangement of one or more blockchains. Notably, the one or more blockchains of the blockchain arrangement allow for providing the fully- integrated workflow to users of the blockchain data processing system. It will be appreciated that distributed architecture of the one or more blockchains in the blockchain arrangement allows for the two or more transacting parties to participate in the transactions irrespective of a geographical distance therebetween. In this way, the blockchain arrangement serves as a supporting framework for providing integrated workflow to the two or more transacting parties (which are users of the blockchain data processing system). In other words, the blockchain arrangement integrates information and processes within and across enterprise boundaries. Furthermore, the distributed architecture of the one or more blockchains in the blockchain arrangement also eliminates need for a middleman (namely, an intermediary entity between two or more transacting parties) in the transactions. Additionally, elimination of the middleman allows the transactions to be transparent and time efficient. Effectively, the blockchain arrangement streamlines and accelerates transaction processes and increases protection against fraud. Therefore, the blockchain arrangement allows for reduction in a cost associated with execution of the transactions.

Throughout the present disclosure the term "transaction" refers to an instance of buying, selling, and/or exchanging of services, information, goods, and so forth between the two or more transacting parties. Generally, occurrence of a transaction involves provision of remuneration by one transacting party to another transacting party, for the services, information, goods and the like provided by the another transacting party to the one transacting party. In an example, a transaction may involve purchase of printers by a telecommunication company (namely, a first transacting party) from a hardware manufacturing company (namely, a second transacting party). The telecommunication company may first place an order for purchase of the printers with the hardware manufacturing company and may subsequently pay for the order. In such an example, the transaction may be payment of resources (such as money, assets, and the like) by the telecommunication company to the hardware manufacturing company. Additionally, the hardware manufacturing company may provide a transaction receipt pertaining to the aforesaid transaction to the telecommunication company.

Throughout the present disclosure, the term " transacting parties" relates to entities involved in transaction of goods, services, economic resources (for example, such as capital, technology and data). A given transacting party can be a person, a group of persons, an organisation, a group of organisations, or any other entity that is capable of performing exchange of goods, information, services and the like, in return for capital, assets, goods, services, information or any other acceptable mode of payment. In an example, the two or more transacting parties can be a bakery that needs milk for production of cakes and pastries and a milk dairy that sells milk. In another example, the two or more transacting parties may be two or more departments within an organization that interact frequently for exchange of information and services. It will therefore be appreciated that applicability of the blockchain data processing system is not limited to providing fully-integrated workflows to only business entities. In fact, the blockchain data processing system can be extremely effectively employed by non-business entities to efficiently manage non-business workflows (for example, such as exchanging research information between various departments of a research laboratory). In essence, the blockchain data processing system is a powerful and reliable tool for securely managing details of any workflow between multiple parties.

Furthermore, the term " blockchain data processing system " refers to a system (namely, an equipment) that provides the blockchain arrangement for storing, sorting and maintaining one or more entries associated with one or more transactions involving the two or more transacting parties. Notably, the blockchain data processing system employs the blockchain arrangement and optionally, one or more modules (for example, a software based module) to manage the one or more entries associated with the one or more transactions. The blockchain data processing system relates to a hardware, software, firmware or combination of these. The blockchain data processing system allows for the two or more transacting parties to manage their workflow efficiently. Notably, the blockchain data processing system allows for a secure and transparent way of executing a transaction and further the blockchain data processing system allows for a seamless maintenance of transaction log and entries associated with the one or more transactions.

As mentioned previously, the blockchain data processing system includes the user-interfacing arrangement, the data processing arrangement and the database arrangement that function in combination to provide the blockchain arrangement to provide the fully-integrated workflow. In simple terms, the user-interfacing arrangement allows for accessing the blockchain arrangement, the data processing arrangement allows for providing processing functionality within the blockchain arrangement, and the database arrangement provides a data repository for storing the blockchain arrangement. Moreover, the blockchain arrangement serves as a tool that integrates various transacting parties coupled to the blockchain data processing system with each other as the blockchain arrangement provides a commonly accessible, secure, and highly detailed record of all entries pertaining to transactions between the various transacting parties. Notably, in the blockchain data processing system, the data processing arrangement is coupled in communication with the user-interfacing arrangement and the database arrangement. Therefore, the data processing arrangement is operable to accept an input via the user-interfacing arrangement. Moreover, the database arrangement is accessible via the data processing arrangement for storage and retrieval of information stored therein.

Throughout the present disclosure, the term "user- interfacing arrangement " relates to hardware, software, firmware, or a combination of these, that allows for interaction between a user of the blockchain data processing system (namely, a transacting party) and the blockchain arrangement. The user-interfacing arrangement allows for providing, in operation, a user interface that is generally rendered upon a display screen of a user device associated with the user. The user interface allows the user to access the blockchain data processing system for management of entries associated with the user's transactions. Notably, the user can manage the entries by way of querying for a certain entry, sorting of entries, and so forth. It is to be understood that in the blockchain data processing system, the user would not be authorized to modify (namely, change) the entries associated with the user's transactions. Additionally, the user interface allows the blockchain data processing system to receive input(s) from and/or provide output(s) to the user.

It will be appreciated that the term "user" relates to a "transacting party" that employs the blockchain data processing system to manage its transactions. Furthermore, the term "user" could also relate to a system administrator of the blockchain data processing system, wherein the blockchain data processing system administrator manages operation of the blockchain data processing system. Moreover, the term "user" could also relate to an entity (such as an individual, an organisation, and the like) having access to the blockchain data processing system. Such an entity could be a regulatory authority, an auditor, a resource-lender, and the like.

Optionally, at the user interface of the user-interfacing arrangement, the received input(s) and/or the provided output(s) is/are represented in form of at least one of: statistical representation (charts, graphs, models and the like), tables, images, text, icons, lists and the like.

Optionally, the user interface is customizable depending upon a requirement of the user thereof. In an example, a user "A" may frequently perform a transaction with another user "B". Such transaction between the user "A" and "B" may relate to an exchange of services therebetween. Therefore, the user A may customize his user interface in a way that transaction details and options associated with the transaction with the user B are easily accessible. Optionally, user interfaces rendered by way of the user-interfacing arrangement, are different for different transacting parties. Optionally, in this regard, a given user interface for a given transacting party, is rendered based upon a role of the given transacting party in a given transaction. Notably, a buyer (transacting party) may have a separate user interface and a seller (different transacting party from the buyer) can have different user interfaces. It is to be understood that the separate user interface allows for providing personalized and relevant operational experiences to the two or more transacting parties. The term "user device" relates to an electronic device associated with the two or more transacting parties. The data processing arrangement may be communicably coupled with the user devices. Examples of the entity devices include, but are not limited to, mobile phones, smart telephones, Mobile Internet Devices (MIDs), tablet computers, Ultra-Mobile Personal Computers (UMPCs), phablet computers, Personal Digital Assistants (PDAs), web pads, Personal Computers (PCs), handheld PCs, laptop computers, and desktop computers.

Furthermore, the term " data processing arrangement" relates to an arrangement of at least two data processing resource (for example, such as at least two data processors) that, when operated, provide processing functionality to the blockchain arrangement. The term " data processing resource " generally refers to an application, program, process or device that responds to requests for information or services by another application, program, process or device on a communication network. The term " data processing resource " also encompasses software that makes the act of serving information or providing services possible.

It will be appreciated that for sake of simplicity and clarity, the " data processing arrangement " could be understood to be a "server arrangement" , wherein the server arrangement includes at least two servers that when operated, provide the aforesaid processing functionality to the blockchain arrangement.

Furthermore, throughout the present disclosure, the term " database arrangement " relates to an arrangement of at least two databases that when employed, collectively function along with the data processing arrangement and the user-interfacing element, to provide the blockchain arrangement. The term " database " generally refers to hardware, software, firmware, or a combination of these, that is operable to provide storage functionality to the blockchain arrangement. Notably, the database arrangement allows for storing entries associated with the one or more transactions in an organized (namely, structured) manner, thereby, allowing for easy storage, access (namely, retrieval), updating and analysis of such entries.

For illustration purposes only, there will now be considered an exemplary network environment, wherein the blockchain data processing system is implemented pursuant to embodiments of the present disclosure. The exemplary network environment may include one or more user devices that are coupled in communication with the blockchain data processing system, via a communication network. It will be appreciated that the communication network can be an individual network, or a collection of individual networks that are interconnected with each other to function as a single large network. The communication network may be wired, wireless, or a combination thereof. Examples of the individual networks include, but are not limited to, Local Area Networks (LANs), Wide Area Networks (WANs), Metropolitan Area Networks (MANs), Wireless LANs (WLANs), Wireless WANs (WWANs), Wireless MANs (WMANs), the Internet, radio networks, telecommunication networks, and Worldwide Interoperability for Microwave Access (WiMAX) networks. Beneficially, the network environment is easy to implement and can be easily integrated in existing hardware infrastructure of the two or more transacting entities. Furthermore, the network environment is adaptable to infrastructural and operational changes the existing hardware infrastructure. In other words, the network infrastructure is dynamically reconfigurable. It will be appreciated that the blockchain arrangement acts as a lightweight process integrator that works to provide fully-integrated workflow to the two or more transacting parties coupled to the blockchain data processing system. Notably, the blockchain arrangement acts as a facilitating mediator for handling requests and approvals associated with the one or more transactions undertaken by the two or more transacting parties. In use, blockchain(s) for one or more transactions pertaining to one or more workflows between the two or more transacting parties is/are accessible only by such two or more transacting parties. In other words, a given transacting party can only access blockchain(s) pertaining to its own transactions. However, one or more transacting parties could optionally authenticate and associate other users (such as auditors, regulatory authorities, and the like) with such blockchain(s), thereby allowing such associated users to access the blockchain(s) as well. Beneficially, the blockchain arrangement allows for logging all operations associated with the one or more transactions, by way of logging entries pertaining to the one or more transactions. It will therefore be appreciated that the blockchain arrangement allows for maintaining a tamper-proof transaction log to provide transparency and prevent fraudulent actions in the one or more transactions.

It will also be appreciated that the blockchain arrangement allows for sharing entries pertaining to the one or more transactions and steps and/or results of processes pertaining to the one or more transactions with the two or more transacting parties in real-time or near real-time (namely, while the one or more transactions are in progress). In this way, the blockchain arrangement serves as an integrated and up-to-date workflow management tool for the two or more transacting parties. The blockchain arrangement employs an efficient and a secure manner of data recordal (notably, by adding entries that are implemented by way of the one or more smart contracts), which is not provided using manual methods or currently existing workflow management tools. Moreover, owing to this manner of data recordal, the blockchain arrangement facilitates quick and easy access of the entries by any of the two or more transacting parties. As the blockchain arrangement provides data security, the two or more transacting parties need not waste resources and time in repeatedly verifying authenticity of the entries added to blockchains of the blockchain arrangement.

In operation, the user-interfacing arrangement is operated to enable the one or more transacting parties (namely, one or more users of the blockchain data processing system) to place an order for a transaction directly with the blockchain data processing system. Subsequently, the data processing arrangement activates a bilateral channel for the transaction associated with the placed order. It is to be understood that " activation " of the bilateral channel refers to transmission of a request to the server(s) associated with the two or more transacting parties for creating a block associated with the transaction in the one or more blockchains therebetween. Notably, the bilateral channel refers to a two- way communication channel that is established (for example, by the communication network) between two or more transacting parties, upon registration of the two or more transacting parties with the blockchain data processing system. Notably, the bilateral channel allows for supporting the one or more blockchains between the two or more transacting parties. Additionally, the bilateral channel could also be used for verification of operations during the transaction. Furthermore, the dedicated blockchain is operable to log details of the order, transacting parties, invoice and so forth. Therefore, the blockchain arrangement provides a coherent, logical and consistent solution for managing workflow transactions of the two or more transacting parties coupled thereto.

Optionally, the order for a transaction is forwarded automatically to the blockchain data processing system as soon as the one or more transacting parties places an order on the enterprise software application associated therewith. This enables real-time updating of blockchain data processing system with an up-to-date entry corresponding to the order for the transaction.

It will be appreciated that bilateral channels could be established between all transacting parties coupled to the blockchain data processing system, or only between selected pairs of transacting parties coupled to the blockchain data processing system. Therefore, the present disclosure does not limit a number of bilateral channels that can be established.

Furthermore, the entries added by the blockchain data processing system to the blockchain of the blockchain arrangement are implemented by way of one or more smart contracts. The " one or more smart contracts " refer to a set of instructions (namely, protocols) that control the one or more transactions under certain conditions that are included in the smart contract. In other words, the one or more smart contracts define constraints associated with the transactions in form of a digital contract. Additionally, the one or more smart contracts are operable to enforce the constraints on the two or more transacting parties involved in the one or more transactions. The entries added to the blockchain include data associated with the one or more transactions. Such data may include information related to a mode of payment to be employed for the transaction, a date of delivery of a transaction order, financial information of the two or more transacting parties, an invoice of the transaction order, and the like. The constraints in the one or more smart contracts describe a manner of implementing operations in the one or more transactions, such that the operations are consistent with corresponding entries thereof in the blockchain.

It will be appreciated that a " smart contract " may also be commonly referred to as a "cryptocontract" . The entries are managed by the ledger arrangement of the blockchain arrangement. In such a case, the one or more blockchains are implemented as decentralized, private secure ledgers. In other words, the ledger arrangement is implemented as a distributed ledger. The ledger arrangement could be a permissioned (namely, private) ledger or a non-permissioned (namely, public) ledger. Specifically, the ledger arrangement provides a distributed ledger approach for efficient record keeping and security of the entries added by the blockchain data processing system to the blockchain arrangement. Beneficially, the ledger arrangement provides the two or more transacting parties with access to the entries added to the blockchain, and enable the two or more transacting parties to manage the one or more transactions efficiently.

In an embodiment, the ledger arrangement may be a Hyperledger fabric- based ledger. Beneficially, the hyperledger fabric provides flexibility related to permissions associated with entries in the ledger arrangement. The hyperledger fabric also provides scalability to the blockchain arrangement depending upon a requirement thereof.

Optionally, the blockchain is used by the blockchain data processing system to support at least one of: data security, data encoding. In other words, the blockchain may be used by the blockchain data processing system for at least one of: maintaining security of workflow information, encoding the workflow information, transactions pertaining to exchange or purchase of for example, medical devices, stationary goods, and so forth or managing delivery of drugs, pantry products and so forth. In such a case, the blockchain includes data protection and encryption techniques to provide a secured, consistent and non-vulnerable solution for storing and managing the entries related to the one or more transactions. In an exemplary scenario, when separate blockchains are employed for separate transactions, a dedicated blockchain for each of the plurality of transactions enables the blockchain data processing system to provide an optimal way for storing and maintaining the entries for high-end orders (namely, orders with high cost and confidential data). Such high-end orders may be related to purchase of medical devices, drug delivery and the like.

In an example, the blockchain may provide data security to the entries stored therein by employing cryptographic techniques. In such a case, the two or more transacting parties related to the entries may have private keys thereof that may be assigned to the one or more transactions associated therewith. In such an example, an alteration in the entries may cause an invalidation of the private keys associated with the altered entries. Furthermore, the entries stored in the blockchains may be encoded by applying one or more hashing techniques thereto. Beneficially, encoding the entries may make information stored the entries incomprehensible for an unauthorized user.

In another example, the blockchain may be used by the blockchain data processing system to support a drug delivery method by maintaining a transaction log of orders pertaining thereto. Specifically, such a transaction log may include information of multiple transactional steps associated with the order, from the first step of the order to the last step of the order. At a first step, a buyer (transacting party) registers himself/herself with the blockchain data processing system, thereby, dedicating a computing device associated with himself/herself to act as a transaction node in the blockchain arrangement. The blockchain may include a comprehensive list of all transaction nodes associated with the order. At a second step, the buyer places a purchase order for buying drugs from a medicine manufacturer (transacting party). Consequently, a bilateral channel is established between the buyer and the medicine manufacturer, and a blockchain is activated at the bilateral channel. Subsequently, each interaction between the aforesaid transacting parties and details thereof, are maintained in the blockchain. At a last step, the blockchain stores an invoice (namely, a receipt) of the purchase order that is verified by the medicine manufacturer as well as the buyer.

As mentioned previously, the blockchain is used to record steps and/or results of the purchase-to-pay and the order-to-cash processes to provide the fully-integrated workflow. The blockchain is operable to store a step by step log of operations performed for each of the one or more transactions. Therefore, the blockchain includes a comprehensive log that includes entries associated with placement of an order until a completion of the order. It is to be understood that the " purchase-to-pay " (namely, procure to pay) process relates to a process of requesting, acquiring, and making payments to obtain goods and/or services for a business. The result of a purchase-to-pay process is often an invoice of a given order of goods and/or services. The blockchain is used to record such an invoice of the given order. An example of purchase-to-pay process may be purchase of coffee vending machines, from a manufacturer thereof, by a coffee shop. In such an example, the coffee shop and the manufacturer of coffee vending machines are the two transacting parties coupled to the blockchain data processing system. The coffee shop may request for coffee vending machine and subsequently a purchase order may be created based on the request of coffee vending machines by the coffee shop. Consequently, the purchase order may be approved and the coffee vending machine may be received from the manufacturer. Subsequently, an invoice receipt may be received from the manufacturer and payment may be provided thereto.

Moreover, it is to be understood that the " order-to-cash " process refers to a process including receiving, fulfilling, and accepting payment for a request of products and/or services from a customer. Generally, a given order-to-cash process includes multiple sub-processes including, but not limited to, receiving the customer's order, documenting the customer's order, fulfilling the order or scheduling the service, accepting payment for the order, and obtaining feedback pertaining to the order, from the customer. The result of the order-to-cash process often includes an invoice of the customer's order that is to be provided to the customer, upon a cash payment being made by the customer. An example of order- to-cash process may be purchase of medical equipment by a hospital from a manufacturer of the medical equipment. In such an example, a sales order may be created based on a requirement of the medical equipment by the hospital. Subsequently, an order confirmation may be provided by the manufacturer. The medical equipment may be delivered to the hospital and consequently cash may be received by the manufacturer.

It will be appreciated that by allowing for proper, systematic, and quick recordation of the steps and/or results of purchase-to-pay and order-to- cash processes, the blockchain provides a useful solution for all transacting parties to digitally manage their transactions. As a result, manual intervention or manual effort in such recordation is substantially reduced by employing the blockchain data processing system. Also, the blockchain data processing system allows for tamper-proof maintenance of entries associated with the transaction. Additionally, the blockchain data processing system allows for maintenance of entries associated with the transaction in a way that is robust and substantially immune to cyberattacks.

Furthermore, the blockchain data processing system operates to provide seamless placement or reception of purchase orders directly from the one or more transacting parties coupled to the blockchain data processing system. For implementing such an operation, all the transacting parties are required to register themselves with the blockchain data processing system. Notably, the one or more devices associated with the one or more transacting parties act as one or more transaction nodes of the blockchain arrangement. Subsequently, the one or more transacting parties may place a given purchase order (namely, order for buying a specific product) to the one or more transacting parties via the blockchain data processing arrangement. Specifically, the one or more transacting parties that place the given purchase order, accesses the user-interfacing arrangement on his/her one or more user device, to access the blockchain data processing arrangement. Alternatively, the one or more transacting parties may place the given purchase order directly on the enterprise software application without having to use the user-interfacing arrangement. The one or more transacting parties that are to receive the given purchase order, can also receive the given purchase order seamlessly via the blockchain data processing arrangement. The data processing arrangement is operated to add entries associated with the given purchase order, to a given blockchain. Such entries are implemented by way of the one or more smart contracts. Such entries generally relate to intermediate and final results of a given purchase-to- pay process or a given order-to-cash process. Moreover, a final result of the aforesaid processes, such as a receipt of the given purchase order could optionally be verified by the one or more transacting parties. Hence, the blockchain data processing system provides seamless, substantially- effortless and reliable placement or reception of the given purchase order.

Optionally, the blockchain data processing arrangement hosts a paperless placement of orders, in a manner that placement and viewing of orders is facilitated via the user-interfacing arrangement, maintenance and processing of transaction logs and receipts for the orders is facilitated via the data processing arrangement, and storing of the blockchain arrangement is facilitated via the database arrangement. Each of the aforesaid operations are digitally implemented using hardware systems, thereby, substantially eliminating paper-based documentation for transactions. As a result, the blockchain data processing system substantially reduces manual efforts that are generally carried out by the two or more transacting parties for maintaining proper documentation. Moreover, these digitally implemented operations can be accessed and verified at any point of time by transacting parties involved in the placement of orders. Furthermore, the enterprise software application may be a set of instructions included in a plurality of software parts (such as Docker-containers, smart contracts and the like) installed on the one or more user devices. The enterprise software application may be configured via an installation wizard comprising libraries required for installation thereof. In operation, the enterprise software application is executed on the two or more user devices, thereby allowing for the two or more transacting parties to access the platform provided by the blockchain data processing system.

Furthermore, the blockchain data processing system employs the enterprise software application that utilizes the blockchain arrangement as the integration vehicle to provide the fully-integrated workflow. The enterprise software application is a set of integrated applications that can be used by a transacting party to collate, view, manage, and analyse transaction-related data. The blockchain arrangement acts as a lightweight process integrator that works on top of the enterprise software application, wherein the enterprise software application allows for providing the fully-integrated workflow to the one or more transacting parties coupled to the blockchain data processing system. In addition, providing the fully-integrated workflow includes linking of two or more processes to be executed for performing a seamless placement and reception of purchase orders. Beneficially, the fully-integrated workflow reduces a time, cost and effort required for managing processes pertaining to the transacting party. The enterprise software application ensures fully-integrated workflow while placement of purchase orders by utilizing the blockchain arrangement for placement of purchase orders as well as for recording steps of execution of the purchase orders till completion thereof. The blockchain arrangement serves as the integration vehicle to provide the fully-integrated workflow as it is a single-stop automated solution that effectively utilizes the one or more smart contracts, securely records the steps and/or results of purchase- to-pay and order-to-cash processes, and performs processing steps pertaining to transactions of transacting parties. Optionally, the blockchain data processing system supports auditing of the one or more transactions executed thereby, by inspecting corresponding entries of the one or more transactions. Specifically, the term "audit" relates to systematic examination of entries and transaction logs associated with each of the plurality of transactions. Beneficially, audit ensures that consistent and authentic entries are added in the blockchain. In other words, the audit enables a substantial reduction in a probability of any fraudulent transaction to be added in the blockchain.

Optionally, any of the one or more transacting parties may be operable to add a third party auditor and/or a tax authority for inspecting the entries associated with the transactions. Additionally, the third party auditor may be required to register with the blockchain data processing system and be authenticated for accessing entries associated with a specific transaction. Each of the one or more transacting parties may register the third party auditor for inspecting the specific transaction thereof.

Optionally, the third party auditor participates in the transactions with the one or more transacting parties. In such an instance, a channel comprising the one or more blockchains may be a trilateral channel. Additionally, the third party auditor may have user rights granted thereto. Also, the third part auditor may be allowed to keep a third copy of entities associated with the transactions at a server or a database associated thereto.

Optionally, the blockchain supports real-time auditing by user interaction with the user-interfacing arrangement. Specifically, "real-time auditing" relates to an inspection of the entries added to the blockchain, whilst the transactions are in progress. Notably, the auditor is a user having access to the blockchain data processing system, via his/her user device and the user-interfacing arrangement of the blockchain data processing system. The auditor, upon gaining access to the blockchain data processing system, is able to monitor, edit and verify the entries added to the blockchain, in real or near-real time whilst the transactions associated with the entries are in progress. It will be appreciated that by allowing for such real-time auditing, the blockchain substantially eliminates a possibility of fraudulent entries from being added to workflow transaction logs, since the auditor can inspect the entries at a time when they are being added to the blockchain. In other words, the real-time auditing facilitates the auditor to maintain an audit trail that is updated in real or near-real time. Notably, the entries are unmodifiable (namely, unchangeable) upon being added to the blockchain, thereby, providing a substantial degree of reliability of the audit trail. Such a manner of auditing allows for keeping a constant check on the entries being added, leading to a substantially lesser chance of intended or non-intended mistakes in the entries. Furthermore, such real-time auditing also allows for reducing a burden of conducting audit procedures, which currently exists upon all transacting parties. As a result, by employing the blockchain data processing arrangement described herein, all the transacting parties have an up-to-date audit trail associated therewith. Beneficially, the provision for the real-time auditing allows for saving time, effort and resources that would be spent later by an auditor for obtaining audit evidence and conducting audit procedures for the plurality of transactions. Moreover, using the blockchain, up-to-date entries are always available with the auditor and the two or more transacting parties. Therefore, since the blockchain is updated in real time for all users having access thereto, there exists very little room for discrepancies or fraud. Optionally, the blockchain improves an accuracy of the real-time auditing as it supports automated validation for every single transaction that is recorded on the blockchain. As the blockchain is digitally implemented and digitally stores the entries corresponding to transactions of the one or more transacting parties, the blockchain can be digitally accessed to validate each entry. This would improve the accuracy of the real-time auditing considerably limit use of conventional less-accurate random sampling techniques for auditing.

Optionally, the real-time auditing employs at least one artificial intelligence algorithm. The at least one artificial intelligence algorithm would highlight and investigate anomalous entries and usual patterns of entries in the blockchain as they emerge in real-time.

Optionally, the blockchain data processing system is operable to generate an audit report upon completion of the real-time auditing by the auditor. In such an instance, the auditor may prompt the blockchain data processing system to generate the audit report, or the audit report may be generated by the blockchain data processing system at periodic time intervals. The audit report can be understood to be a digital report that includes comprehensive detail (for example, such as a detailed transaction history, transaction proofs, and the like) pertaining to a given audit trail of a given transacting party. Optionally, the blockchain data processing system is operable to send the audit report to at least one of: the auditor, the given transacting party.

It is to be understood that the blockchain can not only support real-time auditing, but can also allow for auditing at a later stage, upon completion of transactions between transacting entities. Notably, since information pertaining to the one or more transactions are securely stored in the blockchain, the audit can perform auditing operations at any convenient time. Optionally, the enterprise software application provides fully-automated workflow between one or more customers and one or more suppliers, said fully-automated workflow including automatic tamper-proof documentation of one or more associated transactions. In operation, the enterprise software application utilizes the blockchain arrangement for verification of the entries by the one or more customers and one or more suppliers after completion of each of the operations in the plurality of transactions. Since the blockchain arrangement maintains an up-to-date, systematic transaction log which can be accessed by the two or more transacting parties (namely, the one or more customers and one or more suppliers) via the enterprise software application, the one or more customers and one or more suppliers need not keep any personal entries of the transaction log using multiple applications or manual paper-based documents. The transaction logs and the entries corresponding thereto, are automatically documented and secured in a tamper-proof manner using encryption and hashing techniques. The fully-automated workflow ensures that the blockchain data processing system does not need any external interference in form of an instruction, a command input, and so forth, for seamless functioning thereof. Optionally, the blockchain data processing system is operable to facilitate creation of a business network for enabling seamless workflow between a plurality of business entities. In such an instance, a given " business entity " is to be understood to be a given "transacting party". Additionally, optionally, the blockchain data processing system may also contain information like master data (for example, such as administrative and financial information of the plurality of business entities, previous transaction history of the plurality of business entities, address of the plurality of business entities and the like), inventory of goods and/or services offered by or requested by the plurality of business entities, buyer and supplier contracts, and the like. In an exemplary implementation, a business organisation A registers itself with the blockchain data processing system. Subsequently, separate bilateral channels between the business organisation A and its existing business partners B, C and D, (which are already registered with the blockchain data processing system), are set up. Notably, business data such as address data, inventory data, supplier and buyer contract details, and so forth that are associated with the business organisation A, are stored in a blockchain of the blockchain arrangement. As an example, the existing business partner C may place an order with the business organisation A, using the blockchain data processing system. Notably, an entry corresponding to the order may be added to the blockchain. The order is therefore automatically placed with the business organisation A that is coupled to the blockchain data processing system that includes the enterprise software application and the blockchain arrangement, and the business organisation A can view the entry as an incoming purchase order via the user-interfacing arrangement. This can be attributed to the fact that the blockchain is hosted on the bilateral channel between the business organisation A and its business partner C, and both entities A and C have access to information stored in blockchain(s) of the bilateral channel therebetween. The business organisation A may convert the incoming purchase order into a sales order-draft using the blockchain data processing system. In such an instance, another entry pertaining to the sales order-draft may be added to the blockchain. Notably, the business partner C can also view the entry pertaining to the sales order- draft, thereby, being aware that its order is being processed. Furthermore, once the sales order is confirmed, a secure private blockchain is activated between buyer C and seller A. Optionally, since blockchain connectivity between the business partner C (namely, the buyer) and the business organisation A (namely, the seller) gives the buyer access to a product catalog of the seller and discounts offered by the seller. Consequently, the buyer can suggest changes or confirm the sales order. The confirmed order is stored as yet another entry within the blockchain. Therefore, the transaction is registered and validated by each of the buyer and the seller. Optionally, the buyer and seller may authorize an independent auditor to access the bilateral channel and block(s) of entries in the bilateral channel. The independent auditor can then view all transaction-related data in the bilateral channel and easily validate transactions associated therewith, with minimal documentation, and in real or near-real time. Moreover, once the order is completed, an invoice associated therewith is confirmed and verified by the buyer and the seller, via the blockchain data processing arrangement. Beneficially, blockchain data processing arrangement enables a transparent, quick, efficient and tamper-proof transaction between business partners.

The present disclosure also relates to the method as described above. Various embodiments and variants disclosed above apply mutatis mutandis to the method.

Optionally, the method further comprises using the blockchain to support real-time auditing by user interaction with the user-interfacing arrangement.

More optionally, the method further comprises using the blockchain by the blockchain data processing system to support at least one of: data security, data encoding.

Optionally, the method further comprises employing the enterprise software application, that provides a fully-automated workflow between one or more customers and one or more suppliers, said fully-automated workflow including automatic tamper-proof documentation of one or more associated transactions.

Optionally, the program instructions cause the blockchain to support real time auditing by user interaction with the user-interfacing arrangement. More optionally, the program instructions cause the blockchain to be used by the blockchain data processing system to support at least one of: data security, data encoding.

Optionally, the program instructions employ an enterprise software application, that provides a fully-automated workflow between one or more customers and one or more suppliers, said fully-automated workflow including automatic tamper-proof documentation of one or more associated transactions.

DETAILED DESCRIPTION OF THE DRAWINGS Referring to FIG. 1, illustrated is a block diagram of a blockchain data processing system 100, in accordance with an embodiment of the present disclosure. Notably, the blockchain data processing system 100 includes a user-interfacing arrangement 102, a data processing arrangement 104 and a database arrangement 106 that function in combination to provide a blockchain arrangement (not shown) to provide a fully-integrated workflow. As shown, in the blockchain data processing system 100, the data processing arrangement 104 is coupled in communication with the user-interfacing arrangement 102 and the database arrangement 106. Furthermore, the blockchain data processing system 100 employs an enterprise software application (not shown) that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

Referring to FIG. 2, illustrated is a schematic illustration of an environment 200 of interaction of the blockchain data processing system 100 of FIG. 1 and transacting parties coupled to the blockchain data processing system 100, in accordance with an embodiment of the present disclosure. Notably, in the environment 200, the transacting parties A, B, C, D, E and F are shown to be registered with the blockchain data processing system 100 via a communication network (not shown). Notably, a given transacting party could be a buyer and/or a seller. As shown the transacting parties A, B, C and D (shown with single circles) are buyers whereas the transacting parties E and F (shown with concentric circles) are sellers, in the environment 200. The communication network establishes a bilateral channel between a pair of transacting parties, upon registration of such transacting parties with the blockchain data processing system 100. Such bilateral channels are depicted by way of solid lines in the FIG. 2. Notably, a blockchain arrangement (not shown) is provided by the blockchain data processing system 100 for maintaining transaction logs associated with transactions between the transacting parties A-E. The blockchain arrangement includes one or more blockchains between the pair of transacting parties, the one or more blockchains being supported by the bilateral channel between the pair of transacting parties. Referring to FIG. 3, illustrated is a schematic illustration of a bilateral channel 300 between two transacting parties (notably the transacting parties D and E shown in FIG 2), in accordance with an embodiment of the present disclosure. It will be appreciated that the bilateral channel 300 is shown between the aforesaid two transacting parties only for sake of simplicity and is not to be constructed as limiting a number of bilateral channels to specific numbers, types or arrangements in the environment of interaction of the blockchain data processing system and the transacting parties. Notably, the bilateral channel 300 is activated between the buyer D and the seller E upon placement of a purchase order by the buyer D in name of the seller E. Notably, such a purchase order is placed by employing the blockchain data processing system 100 (as shown in FIG 1). As shown, the bilateral channel 300 supports a blockchain thereupon (the blockchain is shown by cubical blocks between the transacting parties D and E) for maintaining transaction records associated with transactions between the transacting parties D and E. Referring to FIG. 4, illustrated are steps of a method 400 of (for) operating a blockchain data processing system, in accordance with an embodiment of the present disclosure. At step 402, entries that are to be added by the blockchain data processing system to a blockchain of the blockchain arrangement are arranged to be implemented by way of one or more smart contracts. The entries are managed by a ledger arrangement of the blockchain arrangement. At step 404, the blockchain is used to record steps and/or results of purchase-to-pay and order-to- cash processes to provide fully-integrated workflow. At step 406, the blockchain data processing system is operated to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system. The blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

The steps 402 to 406 are only illustrative and other alternatives can also be provided where one or more steps are added, one or more steps are removed, or one or more steps are provided in a different sequence without departing from the scope of the claims herein. Referring to FIG. 5, illustrated is an exemplary sequence diagram of interactions of the buyer D and the seller E with the blockchain data processing system 100 (shown in FIGs. 1, 2 and 3), in accordance with an embodiment of the present disclosure. At step S5.1, the seller E registers itself with the blockchain data processing system 100 and dedicates a user device of the seller E to act as a transaction node. As a result, a bilateral channel is established between the seller E and its existing business partner, namely the buyer D, when the buyer D is already registered with the blockchain data processing system 100. At step S5.2, the buyer D places a purchase order in the name of the seller E on the blockchain data processing system 100. At step S5.3, the purchase order is sent to the seller E as an incoming purchase order by the blockchain data processing system 100. As an example, the purchase order is converted into a sales order by the blockchain data processing system 100, and is added to a blockchain supported on the bilateral channel. At step S5.4, the buyer D suggests changes in product catalog and/or product cost offered by the seller E. At step S5.5, the sales order is updated and verified by the buyer D and the seller E and a corresponding entry is added to the blockchain. The sales order details are encrypted using encryption techniques such as hashing and encrypted details are stored in the blockchain. At step S5.6, transaction details such as order value, order date and the like, are verified by both transacting parties the buyer D and the seller E using the blockchain data processing system 100. At step S5.7, the sales order is confirmed and executed. Subsequently, at step S5.8, an invoice for the sales order is generated by the blockchain data processing system 100 and is verified by both the buyer D and the seller E (transacting parties).

Modifications to embodiments of the present disclosure described in the foregoing are possible without departing from the scope of the present disclosure as defined by the accompanying claims. Expressions such as "including", "comprising", "incorporating", "have", "is" used to describe and claim the present disclosure are intended to be construed in a non exclusive manner, namely allowing for items, components or elements not explicitly described also to be present. Reference to the singular is also to be construed to relate to the plural.

Claims

CLAIMS What is claimed is:

1. A blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that:

(b) the blockchain is used to record steps and/or results of purchase- to-pay and order-to-cash processes to provide the fully-integrated workflow; and (c) the blockchain data processing system operates to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, wherein the blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

2. A blockchain data processing system of claim 1, characterized in that the blockchain supports real-time auditing by user interaction with the user-interfacing arrangement.

3. A blockchain data processing system of claim 1 or 2, characterized in that the blockchain is used by the blockchain data processing system to support at least one of: data security, data encoding.

4. A blockchain data processing system of claim 1, 2 or 3, characterized in that the enterprise software application provides a fully- automated workflow between one or more customers and one or more suppliers, said fully-automated workflow including automatic tamper- proof documentation of one or more associated transactions.

5. A method of (for) operating a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that the method includes:

(a) arranging for entries added by the blockchain data processing system to a blockchain of the blockchain arrangement to be implemented by way of one or more smart contracts, wherein the entries are managed by a ledger arrangement of the blockchain arrangement; (b) using the blockchain to record steps and/or results of purchase-to- pay and order-to-cash processes to provide the fully-integrated workflow; and

(c) operating the blockchain data processing system to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, the blockchain data processing system employing an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

6. A method of (for) operating a blockchain data processing system of claim 5, characterized in that the method includes using the blockchain to support real-time auditing by user interaction with the user-interfacing arrangement.

7. A method of (for) operating a blockchain data processing system of claim 5 or 6, characterized in that the method includes using the blockchain by the blockchain data processing system to support at least one of: data security, data encoding.

8. A method of (for) operating a blockchain data processing system of claim 5, 6 or 7, characterized in that the enterprise software application provides a fully-automated workflow between one or more customers and one or more suppliers, said fully-automated workflow including automatic tamper-proof documentation of one or more associated transactions.

9. A software product comprising non-transitory machine-readable data storage mediums having stored thereon program instructions, the program instructions being accessible by a processing device to execute a method of (for) operating a blockchain data processing system including a user-interfacing arrangement, a data processing arrangement and a database arrangement that function in combination to provide a blockchain arrangement to provide a fully-integrated workflow, characterized in that the method includes:

(b) using the blockchain to record steps and/or results of purchase-to- pay and order-to-cash processes to provide the fully-integrated workflow; and (c) operating the blockchain data processing system to provide seamless placement or reception of purchase orders directly from one or more transacting parties coupled to the blockchain data processing system, wherein the blockchain data processing system employs an enterprise software application that utilizes the blockchain arrangement as an integration vehicle to provide the fully-integrated workflow.

10. The computer program product of claim 9, characterized in that the program instructions cause the blockchain to support real-time auditing by user interaction with the user-interfacing arrangement.

11. The computer program product of claim 9 or 10, characterized in that the program instructions cause the blockchain to be used by the blockchain data processing system to support at least one of: data security, data encoding.

12. The computer program product of claim 9, 10 or 11, characterized in that the enterprise software application provides a fully-automated workflow between one or more customers and one or more suppliers, said fully-automated workflow including automatic tamper-proof documentation of one or more associated transactions.