Analysis of the use of blockchain technologies and smart contracts to automate management processes and ensure sustainability

Abstract

Introduction: this paper discusses and analyzes how blockchain technologies and smart contracts apply to automate assurance management processes with sustainability using a perspective model. The increase in demand for systems that are clear and secure in the automation of management processes calls for innovations such as blockchain and smart contracts. Objective: the objectives of the article are to identify the status of blockchain and smart contract adoption in many management processes; to consider the effect these technologies have on the efficiency, transparency, and sustainability of management operations.Methodology: we used regression and Markov analysis simulations to analyze the impacts of blockchain technologies on the management processes. The case study data were used to predict the long-term sustainability impacts, and simulations were carried out. Results: the regression established a positive but substantial effect of the adoption of blockchain technologies on the efficiency of management processes. 75 % of the efficiency score varies with the level of blockchain adoption. Simulations done using the Markov chain also showed that under the highest level of blockchain adoption, there is an effectivity of 90 percent where management processes would have improved and be efficient for the remaining ten years. The simulations also attested that partial adoption still offered a 70 % probability of sustained improvements.Conclusions: this paper provides strong evidence through regression analysis and Markov simulations showing the influence of these technologies. The ability of organizations to focus on innovative solutions toward sustainable management results is therefore realized