What is the blockchain innovation about (in place or proposed) in this industry? (What is blockchain supposed to do/solve?) What are
Learning Goal: I’m working on a business writing question and need an explanation and answer to help me learn.
You should take a perspective of a manager within an organization or an external consultant hired to prepare a recommendation whether blockchain technology should be further developed in the discussed application. Hereto, you can start looking at a particular company, but then you need to write the report from the perspective of the whole industry/process. Critical report means that you should make a thorough analysis and then take a side: either you recommend blockchain in this setting or not, and why. Specifically, in the report you should refer to (but is not limited to) the following areas:
- What is the blockchain innovation about (in place or proposed) in this industry? (What is blockchain supposed to do/solve?)
- What are the characteristics of the blockchain in this specific application? (Public/private blockchain? etc.)
- What are the advantages and disadvantages of blockchain application in this area?
- Is blockchain the right technology? Or maybe other technologies do better job in solving the problem? Or maybe we need them all – a solution at the intersection of blockchain and AI, Big Data, smart contracts, etc.? If you are arguing for yes, why other technologies are not solving the problem. If you are arguing for no, what other technologies are better to do the job, and why? (Similar to blockchain, try to think whether AI, and what type of AI solutions, would be a good tool)
- Conclusions: Take a side and develop recommendation based on your analysis.
o If you argue for using blockchain technology, write what would need to be further developed (improved, changed) in order to make this application solve the still existing
problems in the best possible way.
o If you argue not for using blockchain technology, write what would be a better solution
(simple decentralized ledger, or something completely different: AI, Big Data, smart contracts, etc).
- The report is to be submitted to mycourses up to 1 week after the course
- The report is 1,000-1,200 words. Don’t go beyond the limit! Be concise, write only meaningful sentences submit a word file and/or provide number of words you used (excluding references)
- Grading components: properly covering the instruction and following the rubric in mycourses
Answer preview for What is the blockchain innovation about (in place or proposed) in this industry? (What is blockchain supposed to do/solve?) What are