Semantic Transformation of Web Services

Web services have become the predominant paradigm for the development of distributed software systems. Web services provide the means to modularize software in a way that functionality can be described, discovered and deployed in a platform independent manner over a network (e.g., intranets, extranets and the Internet). The representation of web services by current industrial practice is predominantly syntactic in nature lacking the fundamental semantic underpinnings required to fulfill the goals of the emerging Semantic Web. This paper proposes a framework aimed at (1) modeling the semantics of syntactically defined web services through a process of interpretation, (2) scop-ing the derived concepts within domain ontologies, and (3) harmonizing the semantic web services with the domain ontologies. The framework was vali-dated through its application to web services developed for a large financial system. The worked example presented in this paper is extracted from the se-mantic modeling of these financial web services