Using Blockchain Technology for Data Handling and Sorting
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Added on 2023/06/08
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This presentation discusses the use of blockchain technology for managing and handling data, reducing the risks of third-party attacks. It covers the business idea, its uniqueness, target customers, resources, and production, and its achievability. The presentation also includes references to relevant studies on the topic.
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INTRODUCTION Newbusinessprojectandprofessionalpracticeassiststhe individual to work on project and apply their knowledge and understanding to deliver the better outcome of project (Xie and et.al 2019). Block chain technology refer to the immutable ledger which facilitates the approach for recording the transactions and to monitor the assets within the business network. Block chain helps in managing the data as it enables the firms to digitize their existing records for maintaining them with the secure and enhanced infrastructure. Following presentation is based on data handling and data sorting through block chain technology.
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BUSINESS IDEA Businessideaistotakeuseofblockchain technology for managing and handling the data that can help in reducing the risks of third party attacks (Idrees and et.al 2021). Traditional methods were not able to handle and sort the data as well there were potential risk of cyber-attacks.
UNIQUENESS ABOUT BUSINESS IDEA This product idea is unique in every aspect as it helps in increasingthesecuritywherethedataisprotectedand securely managed. With this firm can easily view their transaction history and they can proceed to minimise and discard the possibilities of any fraud (Weking and et.al 2020). Business strategy is the set of clear instructions and goals whichthebusinessesfollowsintheirparticularmarket segment. This business idea is profitable for the banking sector with this they can easily settle their transaction and can easily monitors it. Itisbeneficialforautomotive,foodandpharmaceutical sector as well for providing better healthcare, accounting, security and public services.
TARGET CUSTOMER AND REASON FOR THEIR SELECTION Demographic segment can be the major target consumer who can benefited from the block chain based services, although consumer that are age of between 30 and 40 are more likely to avail ten finance services (Schinckus, 2020). Resource and production For using the block chain and deploying it requires a source of resources as cryptographic keys, peer to peer network that consists of the shared ledger. Block chain engineer and other equipment’s. for developing the block chain project for data handling it requires the sort of capital for investment budget for this is Euro 960.90 to Euro 4794.50, it will also cover the cost for the promotion and other essential activities to make the idea achievable.
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TO ANALYSE THE BUSINESS IDEA AS WHAT EXTENT IT IS WORKING AND ACHIEVABLE For making this idea working, it also requires to select the proper block chain platform and to create and ambiance which supports the Block chain technology. it is also important to examinetherulesfortheengagementandtonavigate uncertainty (Javaid and et.al 2021). For deploying the technology, it is important to do the legal activities for avoiding any miserable situations. In this information remains unchanged and secured from any cyber-attack additionally it helps in making it accessible for the user. Thisbusinessideaisachievableasitconsistsofallthe attributesandotheraspectswhichisabletofulfilthe requirement of clients and other stakeholders.
REFERENCES Idrees, S.M. and et.al 2021. Security aspects of blockchain technology intended for industrial applications.Electronics,10(8), p.951. Javaid, M. and et.al 2021. Blockchain technology applications for Industry 4.0: A literature-based review.Blockchain: Research and Applications, p.100027. Schinckus, C., 2020. The good, the bad and the ugly: An overview of the sustainability of blockchain technology.Energy Research & Social Science,69, p.101614. Singh, M. and Kim, S., 2018. Branch based blockchain technology in intelligent vehicle.Computer Networks,145, pp.219-231. Weking, J. and et.al 2020. The impact of blockchain technology on business models–a taxonomy and archetypal patterns.Electronic Markets,30(2), pp.285-305.