UniSA Transaction Security: Implementing Blockchain Technology

This report discusses the adoption of blockchain technology for transaction processes at the University of South Australia (UniSA). It addresses how this change can enhance the security of online fee payments, especially for international students. The implementation of blockchain, where current transactions are linked with previous ones and records are maintained by a distributed ledger, offers benefits to both students and the university. Students gain assurance regarding the confidentiality of their information, while the university achieves greater accountability in transactions. The report also highlights expectations for the accounts department in managing the new system and identifies associated risks, such as improper implementation and potential data breaches. The analysis includes references to research on blockchain technology, emphasizing the challenges and opportunities it presents.

Running head: USE OF BLOCKCHAIN IN TRANSACTION
Use of block chain in transaction
Name of the Student:
Name of the University:
Author Note:

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USE OF BLOCKCHAIN IN TRANSACTION
Understanding about the change:
The change that can be adopted in the organization is the use of block chain technology
for the transaction process in the university.
The way change fixed in the organization
It has been seen that most of the students enrolling in the university are making the
payment of fees through the online transaction. Apart from that the international students have to
pay their initial admission fee through online. The university has a secured payment gateway.
However, the adaptation of the block chain technology can be beneficial for enhancing the
security of the transaction. In this system the current transaction is connected with the previous
transaction and the transaction records are maintained by the distributed ledger [1].
Benefits of stakeholders:
Through the implementation of this technology in the transaction system, the both the
students are the university authority will be benefited. The student can be assured that their
confidentiality of the information will be maintained. On the other hand, the university authority
can get the accountability of the transactions.
Expectations on the stakeholders:
It is expected that the accounts department who are responsible for managing the
transaction on behalf of university can understand the handling and the working of the newly
implemented system.
Associated risk:

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USE OF BLOCKCHAIN IN TRANSACTION
The associated risks in this case may include improper implementation of the system. In
this case, the system may not serve the right purpose of managing the transaction [2]. Apart from
that the vulnerability in the block chain system can lead to the serious form of data breaching
which is not desirable for any stakeholders.

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USE OF BLOCKCHAIN IN TRANSACTION
References
[1] Yli-Huumo, Jesse, Deokyoon Ko, Sujin Choi, Sooyong Park, and Kari Smolander.
"Where is current research on blockchain technology?—a systematic review." PloS
one 11, no. 10 (2016): e0163477.
[2] Zheng, Zibin, Shaoan Xie, Hong-Ning Dai, and Huaimin Wang. "Blockchain challenges
and opportunities: A survey." Work Pap.–2016 (2016).