Building an executable axiomatisation of the REA2 ontology

This project aims at producing an executable version of the Resource-Event-Agent ontology. This executable version is built with the MERODE methodology, which guarantees coherence between class and state diagrams. Where the MERODE CASE tool supports generating Java code from conceptual diagrams, our aim is to produce fully REA- compliant blockchain code with this methodology. This project’s main innovation is the use of existence dependency and event propagation to model increment and decrement as fundamental stand-alone concepts that simultaneously affect economic resources, event, agents and the nature of the stock-flows, participations and dualities be- tween them. The second – and most probably the most important – contribution of this paper is the formalisation of the REA axioms as executable finite state machines. In the future, both of these innovations are believed to contribute to the reliability of a generic semantic blockchain technology for both the finance and logistics domain in both the traditional and the sharing economy. As such it is expected to promote both traceability and ac- countability in value networks and supply chains