BREAM: Building a smart contract of the REA2 ontology using MERODE

Laurier, Wim
(2025)

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Abstract
Decentralization is expected to mitigate the ʻdark sideʼ of the platform economy (e.g., power asymmetry) for SMEs. Using decentralized technology (i.e., smart contracts), this paper aims at advancing the state of the art in building decentralized transaction processing systems, that are able to maintain intra- and inter-organizational semantic consistency, for value networks. It does so by presenting the BREAM (Blockchain-REA-Merode) approach in 3 artefacts: (1) a smart-contract implementation of REA2 with B-MERODE, (2) the exaptation of the REA2-MERODE design methodology to smart contract technology, and (3) the initiation of a testbed for code generated with this design methodology using the ChaincodeTestr tool. This paper demonstrates the feasibility of the BREAM approach, through the development and evaluation of a proof-of-concept. To the best of our knowledge, it is the first time that this approach has been tested an executed. The BREAM methodology is expected to support the ex-ante auditability of decentralized transaction processing systems, which is expected to support their decentralized governance, which in turn is expected to contribute to mitigating the ʻdark sideʼ of the platform economy.
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