Leveraging Blockchain to Enhance Digital Transformation in Small and Medium Enterprises: Challenges and a Proposed Framework

Abstract

This paper presents a Blockchain-based framework for providing Blockchain services for purposes of stability in terms of consensus protocol infrastructure and governance mechanisms and accessible auxiliary services suitable for the vast majority of current business needs, including fundamental factors such as digital identity with autonomous identity, building solutions to ensure transaction privacy with zero-knowledge proofs, and other services related to digital assets. The proposed framework helps promote digital transformation for businesses, especially small and medium enterprises with limited resources and costs, to apply Blockchain technology to their business models, increasing competitive advantages and assisting the companies in focusing on business logic while still using Blockchain technology in their functions.

Keywords

• Blockchain-as-a-services
• enterprise blockchain
• digital transformation
• self sovereign identity
• zero-knowledge proofs
• digital assets