Letter Of Credit Business Network Topic You Will Find In Att

Letter of Credit business network topic you will find in attached book in chapter 3 must follow book and Walmart below link

Provide a 600 words double spaced reflection. Use of proper APA formatting and citations. If supporting evidence from outside resources is used those must be properly cited. References MUST be cited within your paper in APA format. Your reference page and in-text citations must match 100%. Papers without in-text citations will earn failing grades and only one reference is allowed. No plagiarism at all. Letter of Credit business network topic you will find in attached book in chapter 3 must follow book and Walmart below link Take what you’ve learned about the Letter of Credit business network and develop a novel business application that relies on enterprise blockchain functionality. Describe your business idea, focusing on how enterprise blockchain technology is central to its value and uniqueness. Create an enterprise blockchain participant policy that describes the types of participants and their associated roles and user attributes in your novel business network. Your body of your policy should be no less than 600 words Question the which needs to answer, 3) Brief description of upcoming features in the next quarterly release that will require additional permissions. (Be creative, but realistic here. Think about what the existing application does, and what features you’d like to add that would increase the application’s usefulness and value. Analyzing current functionality and determining which features would best meet business needs will be a big part of assessing this assignment.) 4) Describe each user attribute and the permissions each attribute aligns with in an attribute-based access control environment. The point here is to think of how your business network and application will be used, and what users need to use and manage it. Must follow this links as we have to explain about Walmart blockchain only and provide from this link.

Paper For Above instruction

The Letter of Credit (LC) business network, as discussed in Chapter 3 of the referenced book, highlights the importance of secure, transparent, and efficient international trade transactions. Building upon this, I propose a novel enterprise blockchain application centered around automating and securing the Letter of Credit process, tailored specifically for Walmart’s global supply chain operations. This blockchain-based solution leverages enterprise blockchain technology to streamline the issuance, verification, and settlement of Letters of Credit, thereby reducing fraud, minimizing paperwork, and increasing transaction speed.

Walmart, being a global retail giant, engages with numerous suppliers across varying regions, which necessitates a trustable and tamper-proof system for financial guarantees. The proposed blockchain application would utilize a permissioned blockchain network where authorized participants, including banks, suppliers, and Walmart’s internal finance teams, interact within a shared, immutable ledger. Blockchain’s core features, such as transparency, decentralization, and cryptographic security, are central to the application’s value proposition. By having a shared ledger accessible only to validated participants, all parties can verify transaction status in real-time, reducing reliance on intermediaries and paperwork.

This novel business network hinges on the idea of a smart contract-enabled Letter of Credit process. Once a purchase agreement is made, Walmart can initiate a digital LC request directly on the blockchain, which automatically verifies the applicant’s credentials and bank’s authorization before generating the digital LC. This process not only accelerates the approval timeline but also enhances security, as the smart contract enforces compliance with terms and conditions without manual intervention. The inclusion of blockchain allows for auditable records, making dispute resolution transparent and efficient.

The participant policies of this blockchain network feature several roles, each with specific attributes and permissions aligned through Attribute-Based Access Control (ABAC). There are three primary participant types: Walmart’s supply chain finance team, participating banks, and supplier representatives. The supply chain finance team has the highest level of permissions, including viewing and managing all LC transactions, initiating new requests, and authorizing amendments. Banks, as trusted financial intermediaries, can verify and approve LCs, access transaction histories, and participate in smart contract operations. Suppliers are limited to viewing their own LC statuses and submitting necessary documentation for verification.

Regarding upcoming features in the next quarterly release, new functionalities will focus on enhanced security and automation. For example, a feature allowing automated compliance checks for regulatory requirements across multiple jurisdictions will be introduced. This would necessitate additional permissions for compliance officers within Walmart and participating banks to access sensitive regulatory data. Additionally, an AI-powered fraud detection module will scan transaction patterns in real-time, requiring special access privileges due to its impact on transaction integrity and security.

In an attribute-based access control environment, specific user attributes such as role, organization, certification status, and geographic location will determine permissions. For example, Walmart’s finance team members who have the attribute 'Role:FinanceManager' will have permissions to approve or reject LCs and access all transaction data. Bank officials with 'Role:BankVerifier' can verify and approve LCs but cannot modify them unless they hold the 'Role:BankAdmin' attribute. Supplier representatives will have attributes like 'Role:SupplierRep' with permissions limited to submitting documents and viewing statuses. Geographic attributes such as 'Region:NorthAmerica' or 'Region:Asia' will restrict or grant access to jurisdiction-specific compliance tools and documentation.

This enterprise blockchain network model aligns with Walmart’s strategic focus on digital transformation and supply chain transparency. By embedding blockchain technology into its LC processes, Walmart can substantially enhance transaction efficiency, reduce operational costs, and improve trust among international trading partners. As the network evolves, features such as cross-border compliance automation and AI-driven fraud detection will further solidify its role as a transformative tool in global trade finance.

References

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• Walmart. (n.d.). Walmart’s Blockchain Initiatives. Retrieved from https://corporate.walmart.com/newsroom/2023/06/15/walmart-expands-use-of-blockchain-in-supply-chain
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