Technology changes in business Project 2022

Running head: TECHNOLOGY CHANGES IN BUSINESS
Technology changes in business
(Suncorp Group Limited)
Name of the student:
Name of the university:
Author Note

TECHNOLOGY CHANGES IN BUSINESS
1
Executive summary
Suncorp Group Ltd is leading banking, insurance and a finance corporation at Australia. In the
report, the business case of the bank to deploy blockchain technology is analyzed. Suncorp has
required to develop intelligent resources and smart type of contracts to get controlled over the
Internet. The project developed expects to find the needed changes with the innovation under the
chosen bank. Besides, the evaluation demonstrates the project backgrounds, various measurable
objectives, and current situations, statement of the problem, assumptions and critical constraints.
Next, different options and recommendations are investigated here, having the core project
requirements. Apart from this, different potential emerging risks, estimations of the schedule with
budget determination are effectively demonstrated in the following report.

TECHNOLOGY CHANGES IN BUSINESS
2
Table of Contents
Introduction:..........................................................................................................................................3
Discussing the project background:.......................................................................................................3
Analyzing measurable objectives:.........................................................................................................4
Evaluating the current situation at Suncorp:..........................................................................................4
Discussing the problem statement:........................................................................................................5
The critical assumptions and constraints:..............................................................................................5
Analysis of options and recommendations:...........................................................................................6
Preliminary project requirements:.........................................................................................................7
Conclusion:............................................................................................................................................8
References:............................................................................................................................................9

TECHNOLOGY CHANGES IN BUSINESS
3
Introduction:
Suncorp Group Limited is one of the popular insurance, banking and finance corporation at
Brisbane, Australia. The blockchain, on the other hand, is a developing list of records. It is
connected using the technology of cryptology. Every block consists of the cryptographic hash of the
prior block, transaction data and timestamp. The following study intends to demonstrate the business
case of Suncorp in implementing the blockchain as the new technology. Here, the study intends to
discuss the project background with the different measurable objectives, present situation, problem
statement, critical constraints and assumptions. Then the various recommendations and options are
analyzed with preliminary project perquisites. Next, the potential risks, schedule estimations and
budget estimations are expected to be investigated here.
Discussing the project background:
The transaction between the people has been the parcel and part of human society. This is
because the division of labour has made people become independent. The banks have been
becoming aware of the fact the transaction medium is evolving with the development of human
consciousness and society from the barter systems. This is towards the commodity money to the flat
currency and currently towards the digital currency or in other words, the cryptocurrency (Treleaven,
Brown & Yang, 2017). However, it is a fact that evolution is a type of error correction. It is been
needed to be injected to various issues at Suncorp, particularly at the transaction of banking. There is
a necessity to enable the development of the currencies that must be decentralized. Suncorp has
further needed to create intelligent assets and smart contracts to be controlled online. The project
intends to determine the necessity for changes with blockchain within Suncorp. To sell the project,
various components can be considered here. This should be touching the sectors related to product