Blockchain-Enabled Governance of Enterprise Data Asset Recognition in Information Systems: Risks, Mechanisms, and Strategic Policy Paths

Authors

  • Zhou Yang 1
    • Conceptualization
    • Data Curation
    • Investigation
    • Writing – Original Draft Preparation
    • Writing – Review & Editing
  • Xu Yaojie 2,*
    • Formal Analysis
    • Methodology
    • Resources
    • Writing – Review & Editing
  • Xiao Xiao 2,* https://orcid.org/0009-0008-3269-3813
    • Data Curation
    • Formal Analysis
    • Investigation
    • Writing – Original Draft Preparation
1 School of Artificial Intelligence and Low-Altitude Technology, Hefei College of Finance & Economics, Hefei, China 230601
2 School of Smart Finance and Business, Hefei College of Finance & Economics, Hefei, China 230601
Corresponding author: 1164307064@qq.com

DOI:

https://doi.org/10.63646/ODXV9919

Categories

Keywords:

Data asset recognition; blockchain governance; accounting information systems; audit transparency; enterprise information systems

Abstract

This study examines how blockchain can strengthen the recognition, valuation, disclosure, and supervision of enterprise data assets in information systems. It develops a multi-actor governance framework involving firms, auditors, platform operators, and regulators, and analyzes how blockchain capabilities reconfigure incentives, verification routines, and accountability structures across the data-asset life cycle. Building on the literature on blockchain, accounting information systems, digital reporting, auditing, and supply-chain traceability, the paper identifies four recurring governance failures: asset inflation, verification collusion, data leakage, and fragmented oversight. It then explains how shared ledgers, smart contracts, permissioned access, and auditable process logs can reduce these failures, while also introducing new organizational and regulatory tensions. The paper proposes a staged policy path that combines technical design, institutional rules, audit redesign, and incentive alignment. The contribution lies in connecting enterprise information systems research with the emerging problem of data-asset recognition, and in offering a structured governance logic for organizations and regulators seeking credible digital accounting infrastructures.

How to Cite

Blockchain-Enabled Governance of Enterprise Data Asset Recognition in Information Systems: Risks, Mechanisms, and Strategic Policy Paths. (2026). Journal of Environmental Accounting and Finance, 1(2), 13-38. https://doi.org/10.63646/ODXV9919

References

Abdullah, N. A. H. N., & Almaqtari, F. A. (2024). The impact of artificial intelligence and Industry 4.0 on transforming accounting and auditing practices. Journal of Open Innovation: Technology, Market, and Complexity, 10(4), 100218. https://doi.org/10.1016/j.joitmc.2024.100218

Adere, E. M. (2022). Blockchain in healthcare and IoT: A systematic literature review. Array, 14, 100139. https://doi.org/10.1016/j.array.2022.100139

Akter, S., Kummer, T.-F., & Yigitbasioglu, O. (2024). Looking beyond the hype: The challenges of blockchain adoption in accounting. International Journal of Accounting Information Systems, 52, 00681. https://doi.org/10.1016/j.accinf.2024.100681

Ali, M. H., Chung, L., Kumar, A., Zailani, S., Tan, K. H., & Luthra, S. (2021). A sustainable Blockchain framework for the halal food supply chain: Lessons from Malaysia. Technological Forecasting and Social Change, 170, 120870. https://doi.org/10.1016/j.techfore.2021.120870

Baranwal, G., Pateriya, R. K., Singh, V. K., & Chauhan, V. S. (2023). Secure data sharing and ompliance using privacy-preserving computation in data-intensive ecosystems. Journal of nformation Security and Applications, 73, 103437. https://doi.org/10.1016/j.jisa.2023.103437

Benzidia, S., Makaoui, N., & Subramanian, N. (2021). Impact of ambidexterity of blockchain technology and social factors on new product development: A supply chain and Industry 4.0 perspective. Technological Forecasting and Social Change, 163, 120819.https://doi.org/10.1016/j.techfore.2021.120819

Bonson, E., & Bednarova, M. (2019). Blockchain and its implications for accounting and auditing. editari Accountancy Research, 27(5), 725-740. https://doi.org/10.1108/MEDAR-11-2018-0406

Casino, F., Dasaklis, T. K., & Patsakis, C. (2019). A systematic literature review of blockchain-based applications: Current status, classification and open issues. Telematics and Informatics, 36, 55-81.https://doi.org/10.1016/j.tele.2018.11.006

Chen, Y., Lu, Y., Bulysheva, L., & Kataev, M. Y. (2024). Applications of blockchain in industry 4.0: A review. Information Systems Frontiers, 26(5), 1715-1729. https://doi.org/10.1007/s10796-022-10248-7

Chod, J., Trichakis, N., Tsoukalas, G., Aspegren, H., & Weber, M. (2020). On the financing benefits of supply chain transparency and blockchain adoption. Management Science, 66(10), 4378-4396.https://doi.org/10.1287/mnsc.2019.3434

Christidis, K., & Devetsikiotis, M. (2016). Blockchains and smart contracts for the Internet of Things. IEEE Access, 4, 2292-2303. https://doi.org/10.1109/ACCESS.2016.2566339

Conoscenti, M., Vetro, A., & De Martin, J. C. (2016). Blockchain for the Internet of Things: A ystematic literature review. In 2016 IEEE/ACS 13th International Conference of Computer Systems and Applications (AICCSA) (pp. 1-6). IEEE. https://doi.org/10.1109/AICCSA.2016.7945805

Coyne, J. G., & McMickle, P. L. (2017). Can blockchains serve an accounting purpose? Journal of Emerging Technologies in Accounting, 14(2), 101-111. https://doi.org/10.2308/jeta-51910

Da Xu, L., Lu, Y., & Li, L. (2021). Embedding blockchain technology into IoT for security: A survey. IEEE Internet of Things Journal, 8(13), 10452-10473. https://doi.org/10.1109/JIOT.2021.3060508

Dai, J., & Vasarhelyi, M. A. (2017). Toward blockchain-based accounting and assurance. Journal of nformation Systems, 31(3), 5-21. https://doi.org/10.2308/isys-51804

Dasaklis, T. K., Voutsinas, T. G., & Mihiotis, A. (2021). Integrating blockchain with enterprise resource planning systems: Benefits and challenges. In Proceedings of the 2021 International Conference on Information Systems and Engineering Management (pp. 192-201). ACM.https://doi.org/10.1145/3503823.3503873

Demirkan, S., Demirkan, I., & McKee, A. (2020). Blockchain technology in the future of business cyber security and accounting. Journal of Management Analytics, 7(2), 189-20https://doi.org/10.1080/23270012.2020.1731721

Dinh, T. T. A., Wang, J., Chen, G., Liu, R., Ooi, B. C., & Tan, K.-L. (2018). Untangling blockchain: A data processing view of blockchain systems. IEEE Transactions on Knowledge and Data ngineering, 30(7), 1366-1385. https://doi.org/10.1109/TKDE.2017.2781227

Dubey, R., Bryde, D. J., Foropon, C., Tiwari, M., Dwivedi, Y. K., & Schiffling, S. (2023).

Incorporating blockchain technology in information systems research. International Journal of Information Management, 68, 102573. https://doi.org/10.1016/j.ijinfomgt.2022.102573

Faccia, A., & Petratos, P. (2021). Blockchain, enterprise resource planning (ERP) and accounting information systems (AIS): Research on e-procurement and system integration. Applied Sciences, 11(15), 6792. https://doi.org/10.3390/app11156792

Fullana, O., & Ruiz, J. (2021). Accounting information systems in the blockchain era. International Journal of Intellectual Property Management, 11(1), 63-8https://doi.org/10.1504/IJIPM.2021.113357

Giang, N. T. H., Hung, N. Q., Huy, D. T. N., & Van, P. T. H. (2023). Impacts of blockchain on ccounting in the business. SAGE Open, 13(4), 1-15. https://doi.org/10.1177/21582440231222419

Gurtu, A., & Johny, J. (2019). Potential of blockchain technology in supply chain management: A iterature review. International Journal of Physical Distribution & Logistics Management, 49(9), 881- 900. https://doi.org/10.1108/IJPDLM-11-2018-0371

Haddara, M., Norve, S., & Langseth, M. (2021). Enterprise systems and blockchain technology: The dormant potentials. Procedia Computer Science, 181, 1039-1046.

https://doi.org/10.1016/j.procs.2021.01.203

Han, H., Lee, J., Kim, J., & Park, S. (2023). Accounting and auditing with blockchain technology and artificial intelligence: A literature review. International Journal of Accounting Information Systems, 48, 100598. https://doi.org/10.1016/j.accinf.2022.100598

Huerta, E., & Jensen, S. (2017). An accounting information systems perspective on data analytics and Big Data. Journal of Information Systems, 31(3), 101-114. https://doi.org/10.2308/isys-51799

Huo, S., Zhang, M., Liu, Y., & Zhao, Y. (2022). A comprehensive survey on blockchain in industrial Internet of Things: Motivations, research progresses, and future challenges. IEEE Communications Surveys & Tutorials, 24(1), 88-122. https://doi.org/10.1109/COMST.2022.3141490

Kamble, S. S., Gunasekaran, A., Kumar, V., & Belhadi, A. (2021). A machine learning based pproach for predicting blockchain adoption in supply chain. Technological Forecasting and Social Change, 163, 120465. https://doi.org/10.1016/j.techfore.2020.120465

Kitsantas, T., Chytis, E., & Achillas, C. (2022). Exploring blockchain technology and enterprise esource planning system: Business and technical aspects, current problems, and future perspectives.

Sustainability, 14(13), 7633. https://doi.org/10.3390/su14137633 shetri, N. (2018). 1 Blockchain’s roles in meeting key supply chain management objectives.International Journal of Information Management, 39, 80-89.https://doi.org/10.1016/j.ijinfomgt.2017.12.005

Lacity, M. C. (2022). Blockchain: From Bitcoin to the Internet of Value and beyond. Journal of Information Technology, 37(4), 307-325. https://doi.org/10.1177/02683962221086300

Lei, H., & Ngai, E. W. T. (2023). Blockchain from the information systems perspective: Literature review, synthesis, and directions for future research. Information & Management, 60(7), 103856. https://doi.org/10.1016/j.im.2023.103856

Lu, Y. (2018a). Blockchain: A survey on functions, applications and open issues. Journal of Industrial Integration and Management, 3(4), 1850015. https://doi.org/10.1142/S242486221850015X

Lu, Y. (2018b). Blockchain and the related issues: A review of current research topics. Journal of Management Analytics, 5(4), 231-255. https://doi.org/10.1080/23270012.2018.1516523

Lu, Y. (2019). The blockchain: State-of-the-art and research challenges. Journal of Industrial nformation Integration, 15, 80-90. https://doi.org/10.1016/j.jii.2019.04.002

Lu, Y. (2022). Implementing blockchain in information systems: A review. Enterprise Information Systems, 16(12), 2008513. https://doi.org/10.1080/17517575.2021.2008513

Luu, L., Chu, D.-H., Olickel, H., Saxena, P., & Hobor, A. (2016). Making smart contracts smarter. In Proceedings of the 2016 ACM SIGSAC Conference on Computer and Communications Security (pp. 254-269). https://doi.org/10.1145/2976749.2978309

Mamun, M. A. A., Azam, S., & Gritti, M. (2022). Blockchain-based electronic health records anagement: A comprehensive review and future research direction. IEEE Access, 10, 14829-14853.https://doi.org/10.1109/ACCESS.2022.3141079

Moosavi, J., Naeni, L. M., Fathollahi-Fard, A. M., & Fiore, U. (2021). Blockchain in supply chain management: A review, bibliometric, and network analysis. Environmental Science and Pollution Research, 28, 42480-42521. https://doi.org/10.1007/s11356-021-13094-3

Nofel, E., Alhajj, M., Obeid, N., & Al-Okaily, M. (2024). Integrating blockchain, IoT, and XBRL in accounting information systems: A systematic literature review. Journal of Risk and Financial anagement, 17(8), 372. https://doi.org/10.3390/jrfm17080372

Pilkington, M. (2016). Blockchain technology: Principles and applications. In F. Olleros & M. Zhegu (Eds.), Research handbook on digital transformations (pp. 225-253). Edward Elgar.https://doi.org/10.4337/9781784717766.00019

Prybutok, G., Sadeghi, A., Mohammadi, S., & Saed, A. (2022). Theoretical and practical applications of blockchain in healthcare information management. Information & Management, 59(6), 103649.https://doi.org/10.1016/j.im.2022.103649

Rozario, A. M., & Vasarhelyi, M. A. (2018). Auditing with smart contracts. The International Journal of Digital Accounting Research, 18, 1-27. https://doi.org/10.4192/1577-8517-v18_1

Saberi, S., Kouhizadeh, M., Sarkis, J., & Shen, L. (2019). Blockchain technology and its relationships to sustainable supply chain management. International Journal of Production Research, 57(7), 2117- 2135. https://doi.org/10.1080/00207543.2018.1533261

Sahebi, I. G., Masoomi, B., Ghorbani, S., & Uslu, T. (2022). Modeling the enablers for blockchain technology adoption in renewable energy supply chain. Technology in Society, 70, 101871.https://doi.org/10.1016/j.techsoc.2022.101871

Sahoo, S., Sahu, A. K., Pradhan, S. K., & Jena, S. K. (2024). Blockchain for sustainable supply chain management: Trends and ways forward. Electronic Commerce Research, 24, 489-526.https://doi.org/10.1007/s10660-022-09569-1

Schmitz, J., & Leoni, G. (2019). Accounting and auditing at the time of blockchain technology: A

research agenda. Australian Accounting Review, 29(2), 331-342. https://doi.org/10.1111/auar.12286 Sunmola, F. T., & Lawrence, A. (2024). Key success factors for integration of blockchain and ERP systems: A systematic literature review. Procedia Computer Science, 232, 612-621.https://doi.org/10.1016/j.procs.2024.01.077

Tandon, A., Kaur, P., Mäntymäki, M., & Dhir, A. (2021). Blockchain applications in management: A bibliometric analysis and literature review. Technological Forecasting and Social Change, 166,120649. https://doi.org/10.1016/j.techfore.2021.120649

Tijan, E., Aksentijević, S., Ivanić, K., & Jardas, M. (2019). Blockchain technology implementation inlogistics. Sustainability, 11(4), 1185. https://doi.org/10.3390/su11041185

Treiblmaier, H. (2018). The impact of the blockchain on the supply chain: A theory-based research framework and a call for action. Supply Chain Management, 23(6), 545-559https://doi.org/10.1108/SCM-01-2018-0029

Uddin, M., Stranieri, A., Gondal, I., & Balasubramanian, V. (2021). A survey on the adoption ofblockchain in IoT: Challenges and solutions. Blockchain: Research and Applications, 2(2), 100006.https://doi.org/10.1016/j.bcra.2021.100006

Upadhyay, N., Mukhuty, S., Kumar, V., & Kazançoğlu, Y. (2021). Blockchain technology and the circular economy: Implications for sustainability and social responsibility. Journal of CleanerProduction, 293, 126130. https://doi.org/10.1016/j.jclepro.2021.126130

Venkatesh, V. G., Rathi, S., Patwa, S., & Kumar, A. (2020). System architecture for blockchain based transparency of supply chain social sustainability. Robotics and Computer-Integrated Manufacturing, 63, 101896. https://doi.org/10.1016/j.rcim.2019.101896

Wamba, S. F., & Queiroz, M. M. (2020). Blockchain in the operations and supply chain management: Benefits, challenges and future research opportunities. International Journal of InformationManagement, 52, 102064. https://doi.org/10.1016/j.ijinfomgt.2019.102064

Wamba, S. F., Queiroz, M. M., & Trinchera, L. (2020). Dynamics between blockchain adoption determinants and supply chain performance: An empirical investigation. International Journal ofProduction Economics, 229, 107791. https://doi.org/10.1016/j.ijpe.2020.107791

Wang, Y., Han, J. H., & Beynon-Davies, P. (2019). Understanding blockchain technology for future supply chains: A systematic literature review and research agenda. Supply Chain Management, 24(1), 62-84. https://doi.org/10.1108/SCM-03-2018-0148

Wang, Y., Singgih, M., Wang, J., & Rit, M. (2019). Making sense of blockchain technology: How will it transform supply chains? International Journal of Production Economics, 211, 221-236.

https://doi.org/10.1016/j.ijpe.2019.02.002

Weigand, H., Blums, I., & de Kruijff, J. (2020). Shared ledger accounting—Implementing the economic exchange pattern. Information Systems, 90, 101437.

https://doi.org/10.1016/j.is.2019.101437

Wong, L.-W., Leong, L.-Y., Hew, J.-J., Tan, G. W.-H., & Ooi, K.-B. (2020). Time to seize the digital evolution: Adoption of blockchain in operations and supply chain management among Malaysian

SMEs. International Journal of Information Management, 52, 101997.

https://doi.org/10.1016/j.ijinfomgt.2019.08.005

Wu, X., Xiong, H., & Li, Y. (2019). Application of Internet of Things and blockchain technologies to improve accounting information quality. IEEE Access, 7, 151455-151465.

https://doi.org/10.1109/ACCESS.2019.2930637

Yadav, S., & Singh, S. P. (2020). Blockchain critical success factors for sustainable supply chain. Resources, Conservation and Recycling, 152, 104505.

https://doi.org/10.1016/j.resconrec.2019.104505

Yli-Huumo, J., Ko, D., Choi, S., Park, S., & Smolander, K. (2016). Where is current research on blockchain technology?—A systematic review. PLOS ONE, 11(10), e0163477.

https://doi.org/10.1371/journal.pone.0163477

Yuan, Y., & Wang, F.-Y. (2018). Blockchain and cryptocurrencies: Model, techniques, and

applications. IEEE Transactions on Systems, Man, and Cybernetics: Systems, 48(9), 1421-1428. https://doi.org/10.1109/TSMC.2018.2854904

Zheng, X. R., & Lu, Y. (2022). Blockchain technology—Recent research and future trend. Enterprise Information Systems, 16(12), 1939895. https://doi.org/10.1080/17517575.2021.1939895