Benefits of blockchain in knowledge management
Blockchain aids in the traceability as well as verification of the multistep transactions which requires verification and traceability. A blockchain can offer secure transactions, decrease the cost of compliance as well as increase the speed of the process of data transfer. The blockchain technology can help in auditing the product’s origin and contract management (Gupta et al., 2020). The incorporation of the blockchain concepts in the knowledge management model was the main rationale behind reviewing this paper. In the present era, there has been an increasing significance of knowledge management in line along with a range of factors constituting the growth of globalisation, the increase in the rate of the changes in technology or the need of sharing the best practices.
The research of Akhavanet al., (2018) is related to knowledge management as the main aim of the paper itself is to establish a block chains knowledge management model. The paper first selects a model of knowledge management and then incorporates the concept of blockchain in the model. There is then a development of an advanced knowledge services framework for the application, creation as well as sharing of knowledge all through the organisation and particularly in between the experts in an organisation through the provision of a decentralised framework on the basis of the concepts of Blockchain (Calvaresi et al., 2019). the framework exploits blockchain concepts for the achievement of a distributed as well as flexible network for conquering the issues of traditional centralised models of knowledge management by the establishment of a primary procedure on the basis of the concepts of block chain. The incorporation of the blockchain concepts in the knowledge management model was the main rationale behind reviewing this paper. One of the most important reasons behind taking advantage of knowledge management for each enterprise deals with utilisation of the available knowledge in an optimized way and it has already made enough efforts for increasing the knowledge through its requirements (Roman-Belmonte et al., 2018). The utilisation of knowledge management along with its instruments provides assistance to every firm in learning from their past mistakes as well as making use of then for their success in the near future (Schniederjans Curado and Khalajhedayati 2020). The implementation of the blockchain knowledge management model has a huge range of results, constituting that every role in the network can be recognised as an entity with a proprietary as well as public code which authenticates the developed blocks of knowledge. While the implementation of researches as such, there is formation of block for certain limit and added to the organisation’s chain of knowledge.
Akhavanet al., (2018) has developed a Blockchain knowledge management model. In the paper, there has been a selection of the model of knowledge management at first and then the Blockchain concept has been incorporated in it. The paper has then developed an advanced knowledge service framework for the creation, application as well as knowledge sharing throughout the company and particularly between the experts in the organisation through the provision of a decentralised framework on the basis of the concepts of Blockchain. Knowledge management has been identified as the main tool for the enhancement of the effectiveness of the organisation and also nationally. On the basis of the features which are showcased in a structured procedure or a life cycle, the cycle can start with the concept as well as development of it and continues to be a condition that benefits for the sharing as well as application of knowledge. It has been stated in the paper that Knowledge management is completely based on trust management and Blockchain can be utilised as a method for the management of trust in generating, securing, sharing as well as applying variety of knowledge. Akhavanet al., (2018) states that through the technology of Blockchain, there can be integration of knowledge and it can also be verified collectively. the gathered knowledge can be sent to a database of Blockchain and be completely transparent to anyone and can be utilised by the users. After the first extraction, there can be entry of data into a Blockchain with specified timing. It remains hidden for a particular time after which the data which is encrypted is made available to the general public. Or as soon as there has been storage of data in the database of Blockchain, they can be presented. On the flip side, knowledge behaviours of the organisation like the most knowledgeable knowledge, the most used knowledge, problems as well as gaps of knowledge can be monitored. The core areas of knowledge for investment as well as creation of knowledge for the leaders or the company are rapidly determined and the knowledge history of the organisation becomes transparent in every aspect.
Challenges in knowledge management
The paper states that one of the major challenges in knowledge management deals with the sharing of knowledge whereas, sharing knowledge can be facilitated through the use of its potential. The most significant case with respect to this deals with the problem, rights of intellectual property or the copyright of knowledge that is shared among the employees. The scholars who focuses as well as depends on the capabilities of Blockchain should be ensured of the rights of intellectual property of their shared knowledge. This is particularly significant in line with the other procedures of knowledge, which is, it is in the close linkage with the utilisation of knowledge and the experts can follow the way of utilising their knowledge for the maintenance of intellectual property. taking into consideration the specific features of the Blockchain technology, constituting the high speed transfer of information, quick access to information as well as high security of information. According to the paper, the implementation of Knowledge Management is more accessible in the level of organisation. One of the key feature of the database of Blockchain deals with having a history in itself, this is the reason on the basis of which they are generally called invisible.
According to the paper, one of the main and the most important reason for taking advantage of the Knowledge management for each firm deals with utilising the knowledge which is available in an optimised style and it had done enough efforts for increasing the knowledge through its needs. In the opinion of Verma (2021), knowledge management facilitates the utilisation of knowledge sharing for the promotion of learning as well as innovation across the organisation. The main focus of knowledge management is the way of capturing knowledge. According to Nyame et al., (2020), every organisation can highly benefit through people sharing, innovating, collaborating, learning information as well as reusing. This is what makes it a good idea to increase the management of knowledge through the implementation of proper techniques of knowledge management in the business so that full advantage of the benefits can be taken. In the paper, Akhavanet al., (2018) have mentioned that Blockchain is a new decentralised technology which can potentially addresses the challenges and enhance knowledge management. In the opinion of Rupa and Chakkarvarthy (2021), Blockchain is an immutable record’s decentralised distributed database which is accesses through different application of business over the network. The ecosystem of Blockchain comprises of network of nodes, chain database, components of the backend services of Blockchain, smart contact or the chain code as well as client application. Sharing of knowledge with the partners of business is a challenging problems as the organisations need to share their valuable know how assets with people or other organisations out of their organisational boundaries (Akhavan et al., 2018). Sharing of knowledge helps in the enhancements of connection, performing better as well as becoming stronger as professionals. It is an activity through which there is an exchange of knowledge among people (Raimundo and Rosário 2021). It bridges the organisational as well as individual knowledge enhancing the absorptive as well as innovative capacity and therefore resulting in sustained competitive advantage of the organisation as well as individual. Knowledge sharing is a part of the process of knowledge management.
Conclusion
In conclusion it can be said that the paper successfully developed a block chained model of knowledge management. The paper concludes that the selection of a proper tool for the implementation of knowledge management is very important. With respect to this, non-IT tools as well as IT based tools can be signified. The technology of block chain is among the tolls based on Information technology with their higher level of initiatives of innovation that can be used for the implementation of knowledge management at the level of enterprise or also at the national level provided its specific traits. he knowledge that created an organisation is describes as a block which comprises of information like those involved in the creation of that knowledge as well as the contribution of each and details of that specific knowledge , current as well as future applications, strengths as well as weaknesses.
References
Akhavan, P. and Namvar, M., 2021. The mediating role of blockchain technology in improvement of knowledge sharing for supply chain management. Management Decision.
Akhavan, P., Philsoophian, M., Rajabion, L. and Namvar, M., 2018, September. Developing a block-chained knowledge management model (BCKMM): beyond traditional knowledge management. In Akhavan, Peyman, Philsoophian, Maryam, Rajabion, Lila and MortezaNamvar (2018), Developing a Block-Chained Knowledge Management Model (BCKMM): Beyond Traditional Knowledge Management, The 19th European Conference on Knowledge Management (ECKM 2018), September, Italy.
Calvaresi, D., Leis, M., Dubovitskaya, A., Schegg, R. and Schumacher, M., 2019. Trust in tourism via blockchain technology: results from a systematic review. Information and communication technologies in tourism 2019, pp.304-317.
Gupta, R., Shukla, V.K., Rao, S.S., Anwar, S., Sharma, P. and Bathla, R., 2020, January. Enhancing privacy through “smart contract” using blockchain-based dynamic access control. In 2020 International Conference on Computation, Automation and Knowledge Management (ICCAKM) (pp. 338-343). IEEE.
Nyame, G., Qin, Z., Obour Agyekum, K.O.B. and Sifah, E.B., 2020. An ECDSA approach to access control in knowledge management systems using blockchain. Information, 11(2), p.111.
Raimundo, R. and Rosário, A., 2021. Blockchain system in the higher education. European Journal of Investigation in Health, Psychology and Education, 11(1), pp.276-293.
Roman-Belmonte, J.M., De la Corte-Rodriguez, H. and Rodriguez-Merchan, E.C., 2018. How blockchain technology can change medicine. Postgraduate medicine, 130(4), pp.420-427.
Rupa, C. and Chakkarvarthy, D.M., 2021. Web-Based Knowledge Management Distributed Application for Medical Certificates Using Blockchain Technology. Knowledge Management and Web 3.0: Next Generation Business Models, 2, p.141.
Schniederjans, D.G., Curado, C. and Khalajhedayati, M., 2020. Supply chain digitisation trends: An integration of knowledge management. International Journal of Production Economics, 220, p.107439.
Verma, M., 2021. Amalgamation of Blockchain Technology and Knowledge Management System to fetch an enhanced system in Library. no. May.
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