Oracle Trust Models for Blockchain-Based Applications. An early standardization

Blockchain, as a disruptive technology, opened the gate to a wave of potential innovations. However, despite the rapidly growing load of hype, recent research shows that integration into the business, apart from a few applications, is coming at a slower rate. One reason for that delay may be the need in real-world applications for a working "trust model." Trust models are rarely mentioned in blockchain application proposals despite their importance, which creates skepticism about their successful developments. To date, there is still no standard or preferred way to implement a trust model, making auditing the related project more challenging. To contribute to blockchain trust model research and their standardization, this article provides an adaptable trust model framework tested on an already operating blockchain integration. Outlining the integration features and criticalities, the redacted trust model can help managers improve the blockchain application and other stakeholders to evaluate its potential.