Integration of Blockchains with Management Information Systems

Abstract

In the era of the fourth industrial revolution (In-dustry 4.0), many Management Information Systems (MIS) integrate real-time data collection and use technologies such as big data, machine learning, and cloud computing, to foster a wide range of creative innovations, business improvements, and new business models and processes. However, the integration of blockchain with MIS offers the blockchain trilemma of security, decentralisation and scalability. MIS are usually Web 2.0 client-server applications that include the front end web systems and back end databases; while blockchain systems are Web 3.0 decentralised applications. MIS are usually private systems that a single party controls and manages; while blockchain systems are usually public, and any party can join and participate. This paper clarifies the key concepts and illustrates with figures, the implementation of public, private and consortium blockchains on the Ethereum platform. Ultimately, the paper presents a framework for building a private blockchain system on the public Ethereum blockchain. Then, integrating the Web 2.0 client-server applications that are commonly used in MIS with Web 3.0 decentralised blockchain applications.