ABSTRACT
This chapter covers the needs, methods, and implications of validating transactions prior to recording on a permissioned blockchain. It begins with a comparison of permissioned and permissionless blockchains, explains why the differences in blockchain format lead to different methods of transaction validation and discusses why permissioned blockchains have the need for validation services. Next, it explains how to validate transactions using robotic process automation (RPA), and details the three underlying technologies RPA uses: optical character recognition, advanced Excel macros, and proprietary tools based on application program interfaces. Finally, the implications for accounting, auditing, and technology services are discussed. A detailed example of customer–supplier transactions is used throughout the chapter to facilitate comprehension.
