Blockchain Technology Report 2022

Running head: BLOCKCHAIN TECHNOLOGY
BLOCKCHAIN TECHNOLOGY
Name of the Student
Name of the University
Author Note:

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Table of Contents
Introduction..........................................................................................................................2
Critical Review....................................................................................................................2
Success Project - IBM’s Blockchain for Agriculture and Food......................................2
Scope............................................................................................................................2
Technical Details.........................................................................................................3
General Description.....................................................................................................3
SWOT analysis............................................................................................................4
Criteria and Justification of Decision..........................................................................5
Unsuccessful Project- Te-Food........................................................................................5
Scope............................................................................................................................5
Technical Details.........................................................................................................6
General Description.....................................................................................................6
SWOT analysis............................................................................................................7
Criteria and Justification of Decision..........................................................................9
Blockchain Solution.........................................................................................................9
Literature Review........................................................................................................9
Background..................................................................................................................9
Proposed solution.......................................................................................................10
Evaluation..................................................................................................................10
Conclusion.........................................................................................................................11
References..........................................................................................................................12

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Introduction
Blockchain Technology can be stated as a distributed database which can record data. In
other words, it can be defined as a digital ledger which is needed for carrying out a transaction.
One of the biggest benefits of Blockchain technology is its easy accessibility in more hundreds
of systems. It is not completely bound to any of the single places (Crosby et al. 2016).
Blockchain has ultimately the huge amount of disturbance in the financial sector. The technology
aims to underpin all the transaction related to bitcoin. By the help of blockchain technology, user
can easily interact directly and carry out a transaction on internet platform without the need of
any third party (Pilkington 2016). This kind of transaction which is done on blockchain does not
share any kind of personal information of the user. All the transaction records will be encrypted
by the identification of information. Blockchain comes up with features like reducing the
possibilities of a data breach.
In the coming pages of the report, an evaluation has been done with respect to emerging
trends in Blockchain Technology and cryptocurrencies. An explanation has been done with
respect to a variety of Blockchain technology. In addition, identification has been done with
respect to value by it. A proper solution has been developed for the real scenario. Academics
come up with some of the powerful tools which needed for plagiarism detection. It needs to be
integrated into the fact that how student needs to write up their work that is a separate application
which is integrated into the complete editor. One successful project is IBM blockchain for food
and Agriculture while one unsuccessful project is Te-Food.
Critical Review
Success Project - IBM’s Blockchain for Agriculture and Food

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Scope
Food Journey which is from farm to table requires the involvement of various transaction
within people and company. There are various methods which will help in carrying out the
transaction which is to be shared securely and efficiently among various participant in the supply
chain (Zheng et al. 2017). The overall effectiveness of the network-based platform is completely
adopted by QA. It is needed for unifying various technical details where partner aims to deliver a
joint value proposition which is needed for large-scale adoption (Biswas and
Muthukkumarasamy 2016). This particular project is considered to be a hub which is needed for
facilitating transaction in between FIAT and emerging cryptocurrencies by the help of API and
Open banking.
Technical Details
It mainly makes use of blockchain technology which is mainly underlying utility token
needed for getting access to the platform, application and pay services. The upcoming OA that is
initial coin offering is completely based on draft ERC-777 (Sikorski, Haughton and Kraft 2017).
It aims to provide a notable improvement which is adopted on a wide platform that is ERC-20
standard of gold. In addition, there can be a well-documented bug which can result in accidental
burning for minted tokens. This will merely lead the token permanently irretrievable.
General Description
IBM Food trust makes use of blockchain technology which is needed for creating
unprecedented visibility and accountability in the food supply. It is the only network of this kind
which can establish connection in-between growers, processors, retailers and distributors (Wright
and De Filippi 2015). This can be achieved by the help of permissioned, permanent and shared

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record of food system data. By the help of this technology, there is a possibility of instant tracing
of food with end to end supply. It will provide all the required data will help in ensuring food
safety and regulatory compliance.
There is an efficient and instant tracking of food from various sources to the consumer
which helps in judging the peak freshness in a much better way. In addition, it will help in
reducing the overall loss of products. Based on the shared data and immutable ledger, there can
be ensured product quality (Zhang and Wen 2017). The whole thing comes up from sustainable
sources. By the help of transparency and specificity about the sourcing of food products. This
will merely help in building trust safety and overall quality of the brand that can work as a
competitive advantage.
Much better visibility of the food supply chain will ultimately help in identifying waste
hot spots. In addition, this will merely help in reducing food waste, which is costly in nature.
This will merely boost the bottom-line (Ølnes, Ubacht and Janssen 2017). By the help of this
technology, there can be instant access to the shared and immutable digital ledger instead of ink
and paper. This will merely help in finding the check-point and certain number of uncover
opportunities that will help in speed up supply chain.
Data-sharing in various food supply will ultimately help in eliminating any chance of
error and fraud. This will merely help in preserving the overall integrity of raw materials,
packaging, and products.
SWOT analysis
IBM food trust aims to combine with supply chain modules with the core function of
blockchain. It aims to deliver business value to the whole food ecosystem that is a combination

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of standard, governance, interoperability, and technology (Boeri 2015). Each member of the
organization comes up with its own blockchain network. It aims to maintain a complete network
for different data elements. All the given data is made accessible as the data grants permission to
share the records.
Strength: IBM blockchain technology aims to create a trust and permission environment
for different food transaction. Here all the participants can easily collaborate in a secure way.
This particular technology aims to provide the highest level of commercial availability and
tamper-resistant protection on data of food transaction. There is a need for employing IBM
blockchain platform and Hyperledger fabric. The five pillars of IBM food trust are Business
value, ecosystem, governance model, standard and Interoperability and lastly technology.
Weakness: This particular blockchain technology in food trust has come up with chances
of data-theft. In the present world, data security is one of the biggest issues. Although blockchain
technology has made our life easier. This particular technology has created certain number of
issues like data breaches and hacks.
Opportunities: IBM food trust is planning to develop a rich collection of API which is
the deepest thing in the whole ecosystem. It will grow the value of members and partners. The
API server will act like UI-based IBM food trust modules which can be used for self-
development. Trust anchors like suppliers and retailers will be major participants of the Food
Trust network.
Threats: Distributive ledger is of no value until and unless people can move the required
information in and out of it. DLT has seen much more adaptation and the whole third party
market will have huge growth. The need for DLT solution has ultimately created a burgeoning

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market for the development of blockchain technology. Weak security of the IBM system, flaw
codes and personalized vulnerabilities can even expose the details and data of blockchain client
to an unauthorized person.
Criteria and Justification of Decision
Food from different location of the world is completely available to present customers
irrespective of the season. Greater option and accessibility are completely accompanied by an
overall increase in the complexity of the food supply chain. With an increase in data and growing
ecosystem in the industry, there has been a growing importance of trust. A range of bodies like
retailers to consumers and IBM food trust will make use of trust for building transparency.
Blockchain technology is working hard so that they can ensure transparency which will help in
enabling the growing food market. All the data stored within blockchain technology ledger will
be protected with the highest level of commercial available tamper-resistance encryption.
Unsuccessful Project- Te-Food
Scope
TE-Food aims to provide a certain number of activities from object identification and
serialization of product. The required data is captured by the help of interface for B2B mobile
application (Apte and Petrovsky 2016). Data processing aims to a certain number of custom
protocols and tools which will provide the food history to consumers.
Organization in the supply chain need to have an identity within their premises, batches
and retail based products (Turk and Klinc 2017). They need to provide login information for

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majority of events. All the identifiers need to connected by the help of the supply chain so that
they can keep the integrity of the whole information.
Food chain is considered to be scalable and secure ledger which is needed by food supply
chains. It is a blockchain which is completely based on Hyper Ledger technology. There is a
need for permission for sending required data to the blockchain (De Filippi and Hassan 2018).
With every passing year, food chain aims to provide complete transparency to various customer
around the globe.
Technical Details
For using the Food chain decentralized ledger, various supply organization is planning to
have an appropriate number of software license. TFD can be considered to be well known
software which is completely based on Ethereum’s ER20 standard. The overall utility of
tokenized license is all about providing a certain number of transaction that is to be send to the
food chain. There is needed of proper tracking that requires storage of data in blockchain (Yaga
et al. 2019). This will merely help in tracking and further processing. By the help of transaction,
data is completely collected or even tracking transaction is completely executed. Data is
completely written in blockchain which will help in reading or execution of writing execution.
General Description
When the organization provide food product to a consumer they need to come up with
several statement about their product that is organic, non-GMO, the origination of certain
century. It completely processes in compliance with the guidelines of HACCP. Due to various
reason, it can bring trust to consumer which has been fading in last few years (Saberi et al.
2019). So, the firm need to provide proofs that are statement about their products which are true.

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Farm to table traceability will help the supply chain firm for submitting the required event data to
Te-Food so that they can register on blockchain. They need to connect their ID so that they can
keep their data integrity.
Blockchain ledger comes up with proof of required information which is provided by
various participant of the supply chain. Transferred, unmodifiable features of blockchain
technology will guarantee the fact that all the data can be falsified by food organization. Te-Food
is not only the platform provider but it aims to work with several organizations (Zheng et al.
2018). By the help of this tracked physical object require to identified by the help of supply
chain. Te-food provides a platform to food supply chain which can provide food history
information to consumers. Various consumer can make use of TE-Food which is white label
mobile application to see the product history of any customer.
SWOT analysis
Strength
 Efficiency and Productivity of Business Process
 Decentralized approach
 Much more secure
 Trust in some of the trustless network.
 Unharmed privacy.
 Ability to skip the intermediary
Weakness
 Challenges with respect to access

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 Lack of standard
 Challenges with respect to ownership
 Completely security against cyber-criminals
 Maturity with respect to various technology
 Low processing and capacity speed.
Opportunities
 Elimination of necessity of trust
 Transfer of payment at much faster rate
 Improvement of overall customer rate
 Increase in overall quality of products and services.
 Different opportunities in IoT (Internet of Things).
Threats
 Various research need to be done to this technology.
 Willingness of various government bodies from disappearance of current banking
jobs.
 Huge amount of regulatory impact.
 Uncertainty about the overall impact.
Criteria and Justification of Decision
Despite the solution to various activities like object identification and specialization of
product for capturing data, Te-food comes up with issues like challenges to access. There has
been reckless trading without any kind of transaction cost which is the most suitable method for

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attracting attention (Seebacher and Schüritz 2017). E-Toro is well-established exchanges in the
cryptocurrency can be considered to be a major threat.
Blockchain Solution
Literature Review
According to Crosby et al. (2016), the whole idea of blockchain technology aims to
create up science and creation of knowledge that mainly brings up developers and scientists on
the same platform. The current education system mainly forces student to write the best so that
they can get maximum marks. The whole process of publishing the paper until the publishing of
it last for a much longer time. One of the biggest reason behind the peer review process is to
ensure that high quality of work is being submitted.
As stated by Pilkington (2016), various kind of issues like tampering and misreporting of
results, experiment and other issues arises from semi-transparent research. The whole process not
only highlights the core development of science but also the major principles. Another kind of
issue which can be encountered is due to the funding of research grants. The use of such grants is
considered to be a part of research process.
Background
The proposed solution comprises of different solution like
Amazon Elastic Component Cloud: It is a web based service which provides flexible and
secure compute capacity in the cloud service. Complete flexibility of the cloud computing
technology makes the whole thing easier for developers so that they can develop, configure and
host the given digital solution.

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Meta-Task: It can be stated a bridge which allow them to visit the distribution of web
services in upcoming days. This will allow the people to run Ethereum dApps right in their
browser without running of complete Ethereum code. It is mainly inclusive of secure identity
vault that provides the user interface for managing the identities for different sites.
Google-chrome: It is defined like a cross-platform that has been developed by Google. In
the year 2008, it was released by Microsoft windows and after that it was ported to other
platform like Linux, iOS and Android. Browser is defined as the main component of chrome OS
where it acts like platform for web applications.
HTML/Java Script: Script is defined as a small programming language which is used in
HTML so that it can make the web-pages much more attractive and dynamic to user. It can be
like an alert popup window which is appears on mouse click. At present, the best scripting
language is JavaScript which is much popular for websites.
Proposed solution
Blockchain technology is found to be a rewarding ecosystem for universities as
professors can easily rely on it. Due to its decentralized nature, blockchain is found to be an ideal
solution for centralized monopolies. Blockchain technology can provide much control over what
student writes and professor checks. In this case, the proposed solution will be PD3 which will
make the life of the educator much easier. This will allow them to share with their professor
directly by making use of more secure and transparent system so that it can avoid plagiarism.
This particular platform will be based on wallet software so that each of the user gets its own
secure wallet. Content which is send and received on PD3 is completely protected by making use

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of Blockchain technology. In addition, it uses cryptographic hashes to make sure of the fact that
no-body can have access to it without permission.
When the students are making use of internet for submitting their assignment then
platform like PD3 will make their lifestyle much more viable. This particular platform can
remove many of the drawbacks. This can be achieved by fighting plagiarism and providing then
them with alternative option to giant academic platform. Blockchain technology will give student
peace of mind which they have never experienced earlier.
Evaluation
The main reason behind the proposal of this particular technology is all about providing
scholarly communication. It will help in efficient and transparency for potential control on a
single party. This can be achieved by combination of Ethereum and IPFS which can store all
paper review, survey and other kind of information which is provided to platform (Sikorski,
Haughton and Kraft 2017). There is some unique identifier which is assigned to Digital object
identifier for each piece of the provided information.
Conclusion
The above pages of the report help us in concluding the fact that blockchain technology
which helps the data to be stored and exchanged on Peer to Peer basis. Blockchain data can be
easily consulted and shared some kind of algorithm. This is mainly used in a decentralized way
and completely removes the requirement of trusted third parties. Blockchain technology has
completely emerged from two concepts that are asymmetrical cryptography and distributed IT
architecture. In asymmetrical cryptography, the user does not have any idea to known each other
for the exchange of encrypted information. The complete system is based on encrypted data

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which is sent to the third party. In the above pages of the report, one successful and one
unsuccessful project of blockchain technology has been provided. One successful project is IBM
Blockchain for Agriculture and Food. One unsuccessful project is Te-Food which is a startup
Agriculture which makes use of blockchain technology. In the critical review section of the
report, scope, technical details, general idea, SWOT analysis and criteria for justification has
been provided in brief. In the blockchain solution section, the need of blockchain technology for
detecting plagiarism has been discussed in details. A solution has been proposed where an
instructor can verify the draft written by each student. In this section, four important section that
is Literature Review, Background, proposed solution and evaluation has been provided. In
addition, an analysis has been done with respect to present and emerging trends in blockchain
and cryptocurrencies. An explanation has been done with respect to a variety of application of
blockchain technology. A proper blockchain solution has been proposed for real-life cases.

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References
Apte, S. and Petrovsky, N., 2016. Will blockchain technology revolutionize excipient supply
chain management?. Journal of Excipients and Food Chemicals, 7(3), p.910.
Atzori, M., 2015. Blockchain technology and decentralized governance: Is the state still
necessary?. Available at SSRN 2709713.
Biswas, K. and Muthukkumarasamy, V., 2016, December. Securing smart cities using
blockchain technology. In 2016 IEEE 18th international conference on high performance
computing and communications; IEEE 14th international conference on smart city; IEEE 2nd
international conference on data science and systems (HPCC/SmartCity/DSS) (pp. 1392-1393).
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Crosby, M., Pattanayak, P., Verma, S. and Kalyanaraman, V., 2016. Blockchain technology:
Beyond bitcoin. Applied Innovation, 2(6-10), p.71.
De Filippi, P. and Hassan, S., 2018. Blockchain technology as a regulatory technology: From
code is law to law is code. arXiv preprint arXiv:1801.02507.
Meng, W., Tischhauser, E.W., Wang, Q., Wang, Y. and Han, J., 2018. When intrusion detection
meets blockchain technology: a review. Ieee Access, 6, pp.10179-10188.
Nofer, M., Gomber, P., Hinz, O. and Schiereck, D., 2017. Blockchain. Business & Information
Systems Engineering, 59(3), pp.183-187.
Ølnes, S., Ubacht, J. and Janssen, M., 2017. Blockchain in government: Benefits and
implications of distributed ledger technology for information sharing.

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Ouaddah, A., Elkalam, A.A. and Ouahman, A.A., 2017. Towards a novel privacy-preserving
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