Blockchain Technology Assignment

Added on - 28 May 2020

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Running head: BLOCK CHAIN TECHNOLOGY CASE STUDYBlock Chain Technology Case StudyName of the StudentName of the UniversityAuthor note
BLOCK CHAIN TECHNOLOGY CASE STUDYExecutive SummaryThe purpose of this report is to get an overview of block chain technologies and applications inreal scenarios and also its application in Sunshine Finance Company. The block chaintechnology evaluated in this report with focus on various industries such as banking, retail,agriculture and healthcare industry. The block chain technology based applications such asdigital identity, database and smart contracts are also taken in this report to evaluate the benefitsand limitations of block chain technology. The problem of Sunshine Finance Company is thatthey want to adopt block chain technology and applications. However, they want to know thedetailed analysis and evaluation of block chain technology including advantages, disadvantagesand risks. The key issues explored are block chain technology advantages, disadvantages andrisks in terms of real life developments and applications. The problems and key issues wereinvestigated through reviewed journal and articles. The discussions conclude that there arelimitations and risks, such as security issues and trust issues, associated with block chaintechnology which should be considered for future operations. These issues are evaluated in termsof various industry applications and technology based applications. The recommendations for theoverall discussions are applying cyber security systems, risk management and upgrades to blockchain technology. This will help to mitigate the limitations and risks of block chain technology.ii
BLOCK CHAIN TECHNOLOGY CASE STUDYTable of ContentsExecutive Summary.........................................................................................................................11.0 Introduction................................................................................................................................42.0 Key Terminology.......................................................................................................................53.0 Block Chain Technology and Developments.........................................................................63.1 Development in real scenario................................................................................................64.0 Current Applications of Block Chain Technology....................................................................74.1 Banking Industry...................................................................................................................74.2 Retail......................................................................................................................................74.3 Agricultural Sector.................................................................................................................84.5 Healthcare industry................................................................................................................95.0 Block Chain Technology based applications...........................................................................105.1 Database...............................................................................................................................105.2 Digital Identity.....................................................................................................................105.3 Smart Contracts...................................................................................................................116.0 Advantages and Disadvantages...............................................................................................126.1 Advantages..........................................................................................................................126.2 Disadvantages......................................................................................................................127.0 Risks and Recommendations...................................................................................................137.1 Ethical, social and legal risks...............................................................................................13iii
BLOCK CHAIN TECHNOLOGY CASE STUDY7.2 Other risks............................................................................................................................137.3 Recommendation for the risks.............................................................................................138.0 Conclusion...............................................................................................................................149.0 Recommendations....................................................................................................................1410. References................................................................................................................................16iv
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