Blockchain Technology Readiness Assessment for Banking Sector

This assignment presents a comprehensive questionnaire designed to assess the readiness of the banking sector in Sri Lanka to adopt blockchain technology. The questionnaire explores various aspects, including operational, strategic, technical, and legal considerations. It delves into executive management awareness, cost implications, expertise availability, and potential benefits such as increased competitiveness and secure IT solutions. Questions address the impact of blockchain on current systems, legal regulations, market constraints, and the need for industrial standards. Furthermore, the questionnaire examines the perceived maturity of blockchain technology, the availability of platforms, and the understanding of concepts like distributed ledger systems, digital currencies, and smart contracts. It also investigates the potential benefits of blockchain in improving finances, managing digital rights, and contributing to the overall growth of the banking systems. The assignment aims to provide a framework for evaluating the preparedness of local commercial banks to integrate this transformative technology, addressing key challenges and opportunities within the Sri Lankan context.

Running head: BLOCKCHAIN TECHNOLOGY IN BANKING SECTOR
A FRAMEWORK FOR READINESS ASSESSMENT OF THE BANKING SECTOR TO
ADOPT BLOCKCHAIN TECHNOLOGY
QUESTIONNAIRE
Name of the student:
Name of the university:
Author Note:

1BLOCKCHAIN TECHNOLOGY IN BANKING SECTOR
Operational Questions
Q1. Do you think that the awareness of the executive managers of the banks regarding
blockchain technology implementation is sufficient for the operational processes?
Q2. Do you think it will be difficult to acquire the costs of high blockchain development in
banks?
Q3. Do you think the absence of expertise who can develop blockchain technology in the
banks will be a major difficulty?
Q4. Do you think the reason behind the implementation of blockchain technology is the
absence of cost-effective applications in the banking sector?
Q5. Do you think that enough support exists for implementing blockchain technology in the
banks?
Q6. Do you think that the executive management will be able to provide sufficient support
regarding blockchain implementation?
Operational and Strategic Questions
Q7. What kind of knowledge do you think is required about commercial application areas
that are related to blockchain technology?
Q8. Do you think that the employees have knowledge of the impact of blockchain technology
on the current systems of the banks?
Q9. What legal regulations do you think might affect blockchain technology?

2BLOCKCHAIN TECHNOLOGY IN BANKING SECTOR
Strategic Questions
Q10. Do you think blockchain technology will create serious changes in the banking
industry?
Q11. Do you think blockchain technology will increase the competitiveness amongst the
banks?
Q12. What do you think are the legal constraints that will affect the implementation of
blockchain technology in the banks?
Q13. What do you think will be the difficulties in the limited market for implementing
blockchain technology in the banking systems?
Strategic and Technical Questions
Q14. Do you think that the absence of adequate industrial standards is a difficulty in
implementing blockchain technology in the banks?
Technical Questions
Q15. Do you think the people lacks belief in the maturity of the blockchain technology that
can be implemented in the banking applications?
Q16. Do you think there is a lack of blockchain platforms in the banking sector of Srilanka?
Q17. Do you think people lacks sufficient perception about the capabilities of blockchain
technology in the banking sector?
Q18. Do you think that the bankers have sufficient knowledge about the functionality if
blockchain technology?
Q19. Do you think that the banking employees know the concept of blockchain technology?

3BLOCKCHAIN TECHNOLOGY IN BANKING SECTOR
Q20. Do you think that the banking employees have a thorough knowledge about the concept
of distributed ledger system?
Q21. Do you think the creation of digital currencies will be beneficial for the banks as well as
its customers?
Q22. Do you think the creation of smart contracts will be beneficial for the banks as well as
its customers?
Q23. Do you think that the distributed ledger system incorporates major benefits in the
banking sector?
Q24. Do you think that the secure digitalization of the physical contracts will prove to be
beneficial for the banks of Srilanka?
Q25. Do you think blockchain technology will provide safer IT solutions due to the
implementation of blockchain technology?
Strategic and Technical Questions
Q26. Do you think that the absence of the requirements of trust amongst the participants
prove to be beneficial for the banks of Srilanka in implementing blockchain technology?
Q27. Do you think the implementation of the blockchain technology will prove to be
beneficial for improving the finances in the banks?
Q28. What laws do you think need to be incorporated to implement blockchain technology in
the Srilankan banks?
Q29. How do you think will the blockchain technology contribute to the overall growth of the
banking systems of Srilanka?

4BLOCKCHAIN TECHNOLOGY IN BANKING SECTOR
Q30. How do you think the banks will be able to manage the digital rights for incorporating
blockchain technology in their systems?