Question

The aim of this assessment task is to design and develop a Blockchain solution for a selected business. This assessment will help students to better understand and provide recommendations for managers, boards and stakeholders for adopting Blockchain solutions with the understanding of the potential future scenarios.

1.You should identify the context (industry type) for which you want to develop a Blockchain solution by week 8.

2. Prepare a report and include the following points:

a) Explain the context of your business (including the type of business, targeted customers, strategies, etc.)

b) Explain the role of trust in your business processes, current approaches for building trust (including intermediaries), and where a trustless system can benefit

c) Explain the role of Blockchain technology for creating trust. Also, select an appropriate business model to adopt Blockchain in the context of your organisation and briefly justify your choice.

d) Propose a blueprint or technical design for your suggested Blockchain system. You should include the users, nodes, structure of blocks, and how it can be securely accessed.

e) Suggest and briefly explain a governance mechanism for Blockchain in your organisation.

f) List and explain possible risks and challenges (including ethical and legal challenges) for your proposed system and where applicable explain how you plan to mitigate these risks.

g) Explain how future trends in Blockchain technology can impact your proposed solution for the business.

Require:

I need to select a unique or specific company. Only recommend some company or industry I can choose. Thank you

Answer 1

As you said to only recommend some company or industry, then here are they, if you have any doubt just ask me. Thank you.

1. Banking:
Here blockchain disrupts the commercial banking system by providing a peer-to-peer payment system with high security and low fees.

2. Healthcare:
here blockchain used to eliminates the need for a central authority and enables rapid access to data.

3. Government:
Here, people of the nation can vote easily online without revealing their identities. Frauds or any other crime cannot occur because it will be difficult when dealing with blockchain technology.

4. Internet Ads:
Users who receive fewer ads but better-targeted ads without any malware or virus with blockchain technology.

5. Crypto Exchange:
here blockchain reduces conventional cybersecurity risk by simply removing the need for human intermediaries

6. Education:
Deploying blockchain in education will provide safe student verification procedures, thereby reducing fraudulent claims, which helps in credits

7. Cloud Storage:
Here it allows storage to be decentralized and therefore less prone to attacks that can cause systemic damage and widespread data loss.

8. Music:
Here it ensures download song by the user by paying money will directly go to the artists, these contracts allow artists to sell directly to consumers without the need for labels.