PART 1 INSTRUCTIONS
Consider the following questions to prime your thinking before you draft your blockchain definition. (Note: You don’t have to explicitly answer each of these. Instead, use them to help guide your thinking about your answer):
- What is a block?
- How are blocks joined into a ‘chain’ to create a ledger?
- What is a network, and who are its participants?
- What is public-private key cryptography, and what purpose does it serve?
- What is consensus, and why is it important?
- What are the primary benefits of this type of database?
QUESTION
Question 1 (max 250 words, excluding citations):
[Type your blockchain definition here]
Citations:
PART 2
INSTRUCTIONS
In this exercise, you will propose a blockchain use case and utilise the suitability criteria framework you learned about in Module 2 in order to assess and present your use case.
QUESTIONS
Question 2: Identify a use case for blockchain and articulate why it might be a good use case by answering the following two questions: (max 300 words per question, excluding citations):
2.1 What is the problem that you are aiming to solve (or the opportunity that you are aiming to capitalise on)?
[Type your answer here]
2.2 How would your proposed solution solve this problem?
[Type your answer here]
Question 3: Answer and provide rationalisations for the six blockchain suitability criteria questions from Module 2 as it applies to your use case (max 700 words in total, excluding citations):
3.1 Is the process I am trying to apply a blockchain solution to one that is repeatable or can be automated?
[Type your answer here]
3.2 Will this solution be applied only once? Or will it be part of an ongoing process?
[Type your answer here]
3.3 Are there multiple stakeholders involved in the process, and is it already easy for you to verify that each participant is acting honestly?
[Type your answer here]
3.4 Are multiple parties involved in reconciling the different types of data that accumulate throughout the business value chain?
[Type your answer here]
3.5 Is something of value being transferred between stakeholders (for example, information, money, assets, and so on)?
[Type your answer here]
3.6 Is it essential for all records of transactions between stakeholders to be permanent? Would the ability to revise past transactions have a negative impact on stakeholders?
[Type your answer here]
Citations:
Include citations and references in your response.Make sure that your response is within 10% of the specified word count.See the rubric in the module for information about scoring.Answer the questions in this document.
