Paraphrase And Cite The Following Passages. Try Not To Look ✓ Solved

Paraphrase and cite the following passages. Try not to look

Paraphrase and cite the following passages. Try not to look back at the original passage after you have read and understood it. Use a formal, third person writing style in the paraphrased passages (no first- or second-person pronouns).

Passage #1: “Blockchain matters because no business operates in isolation. Multiple institutions can achieve more together than any single institution can alone. By implementing business processes that leverage the collective knowledge of the group, processes can become orders of magnitude more cost efficient. New processes, processes that were not possible before blockchain, can be created. This opens up new opportunities and can create a competitive advantage for many businesses” (Arun, Cuomo & Gaur, 2019, p. 4).

Passage #2: “Organizations offering group benefits often rely on a complex network of administrators, providers, employees, and others to manage those benefits. Different versions of the same data require consolidation to ensure eligibility and access to benefits. For example, IBM blockchain can be the vital link across a vast ecosystem of third-party administrators and service provider networks. Its shared ledger transparency can help employers reduce errors, which results in improved claims processing, better provider management, and lower operational expenses” (Arun, Cuomo & Gaur, 2019, pp. 31-32).

Passage #3: “Essentially, many industries seem to be looking at blockchain as a technology platform that will either transform the industry (by improving cost-efficiency, compliance costs, transparency, and so on) or disrupt it (through disintermediation, creation of new intermediaries, co-creation models, and so on). In either case, blockchain is a network of participants that form the ecosystem and coordinated decision making process to achieve transaction finality and to facilitate a platform that fosters co-creation between the network participants. As blockchain networks evolve and grow, and new participants are added or removed, the dynamics of the network will undoubtedly change, and bilateral and multilateral relationships may emerge. These changes are largely driven by static bilateral or multilateral engagements that are enforced by chaincode or smart contracts” (Arun, Cuomo & Gaur, 2019, p. 93).

Passage #4: “The goal of technology infrastructure governance is to support, adapt, and complement the blockchain business network’s objectives. In a blockchain network, as opposed to a centralized entity, these tasks can be challenging because the governance framework should focus on specifying an accountability framework to encourage necessary behavior. In this setting, the functioning of the IT infrastructure that enables deployment and operation of that infrastructure is defined as the foundational layer of the blockchain network. Many best practices frameworks, such as Information Technology Infrastructure Library (ITIL) and Governance, Risk, and Compliance (GRC), have already laid a strong foundation for blockchain networks to build upon and create a blockchain specific technology governance structure” (Arun, Cuomo & Gaur, 2019, p. 110).

Passage #5: “With blockchain, we can reimagine many of the world’s most fundamental business processes and open the door to new styles of digital interaction that we have yet to imagine. Today, blockchain is fulfilling its potential of vastly reducing the cost and complexity of getting things done across industries and government. Blockchain is certainly here for good. The term ‘for good’ has a double meaning: It implies that blockchain is not a passing fad, and it suggests that blockchain is providing a foundation of trust that is delivering a social good - namely, significantly reducing the various pestilences afflicting digital business, including counterfeiting, digital surveillance, and identity theft” (Arun, Cuomo & Gaur, 2019, p. 163).

Source: Arun, J. S., Cuomo, J., & Gaur, N. (2019). Blockchain for Business. New York: Pearson Addison-Wesley.

Paper For Above Instructions

Passage 1 paraphrase: Blockchain's relevance stems from the inherently interdependent nature of contemporary commerce, where collective action among organizations yields outcomes unattainable by isolated actors. When enterprises redesign workflows to harness shared expertise across participating entities, operational efficiencies can improve dramatically, often by several orders of magnitude. Moreover, blockchain enables the design of entirely new operational models that were previously impracticable, thereby generating novel avenues for value creation and potential strategic advantage for adopters (Arun, Cuomo & Gaur, 2019, p. 4). This collaborative potential is consistent with scholarship that posits distributed ledger technologies as infrastructural enablers of multi-party coordination and value co-creation (Tapscott & Tapscott, 2016; Swan, 2015).

Passage 2 paraphrase: Group-benefit administration typically depends on an intricate web of intermediaries—claims administrators, providers, human resources, and others—whose divergent copies of participant data necessitate reconciliation to confirm eligibility and benefit access. A shared ledger, exemplified by enterprise blockchain implementations such as IBM’s solutions, can serve as the connective tissue across heterogeneous third-party administrators and provider networks. By furnishing a common, tamper-evident record, such platforms reduce reconciliation errors, streamline claims adjudication, strengthen provider network oversight, and lower administrative expenses (Arun, Cuomo & Gaur, 2019, pp. 31–32; IBM, 2018). Empirical and case-study analyses indicate that shared ledgers can substantially cut reconciliation overhead in multi-stakeholder ecosystems (World Economic Forum, 2016).

Passage 3 paraphrase: Across sectors, blockchain is being evaluated both as a technological substrate capable of improving efficiency, regulatory compliance, and transparency, and as a disruptive force that can displace current intermediaries or establish new collaborative intermediaries and co-creation approaches. Fundamentally, a blockchain system is a participant-driven network that orchestrates collective decision-making to secure transaction finality and to provide a platform for joint innovation. Network evolution—through the addition or subtraction of participants—will alter relational dynamics, producing new bilateral and multilateral linkages. Many of these emergent interactions will be operationalized and constrained by programmable agreements, commonly termed smart contracts or chaincode, which codify static business rules and automated enforcement mechanisms (Arun, Cuomo & Gaur, 2019, p. 93; Buterin, 2014; Yli-Huumo et al., 2016).

Passage 4 paraphrase: Effective technology governance for blockchain must be designed to enable and align with the strategic objectives of the business network. Unlike centralized systems, decentralized networks introduce governance complexities that require clarity about roles, responsibilities, and enforceable accountability constructs to promote desirable behaviors among participants. The operational layer—comprising the IT systems that deploy and maintain the ledger—constitutes the foundational tier of the network. Established best-practice frameworks such as ITIL and GRC provide a pertinent baseline upon which blockchain-specific governance mechanisms can be constructed, enabling consistent operational controls, risk management, and compliance practices suited to distributed environments (Arun, Cuomo & Gaur, 2019, p. 110; Axelos, 2019; OCEG, 2019).

Passage 5 paraphrase: Blockchain permits a reimagining of core commercial processes and the creation of novel modes of digital interaction that remain largely undeveloped. In practice, blockchain implementations are already demonstrating substantial reductions in transactional costs and procedural complexity across both private and public sectors. The phrase “for good” conveys two complementary propositions: first, that blockchain is likely to persist as a structural technology rather than a transient trend; and second, that it establishes a trust infrastructure that can mitigate systemic harms in digital business—such as counterfeit goods, invasive surveillance practices, and identity-related fraud—thus producing tangible social benefits (Arun, Cuomo & Gaur, 2019, p. 163; Tapscott & Tapscott, 2016; Swan, 2015).

Conclusion: Collectively, these paraphrased points emphasize blockchain’s role as a coordination and trust-building mechanism across organizational boundaries, its capacity to streamline complex administrative ecosystems, the centrality of network governance and programmable contracts, and the promise of enduring societal benefits through reduction of fraud and inefficiency. These themes are corroborated by foundational and contemporary literature on distributed ledgers and enterprise adoption, which highlight both technological affordances and governance imperatives for sustainable deployment (Nakamoto, 2008; Buterin, 2014; World Economic Forum, 2016).

References

• Arun, J. S., Cuomo, J., & Gaur, N. (2019). Blockchain for Business. Pearson Addison-Wesley.
• Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. Retrieved from https://bitcoin.org/bitcoin.pdf
• Tapscott, D., & Tapscott, A. (2016). Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World. Portfolio.
• Swan, M. (2015). Blockchain: Blueprint for a New Economy. O’Reilly Media.
• Buterin, V. (2014). A next-generation smart contract and decentralized application platform. Ethereum Whitepaper. Retrieved from https://ethereum.org/en/whitepaper/
• IBM Corporation. (2018). IBM Blockchain: Change, Managed. IBM Corporation White Paper.
• Yli-Huumo, J., Ko, D., Choi, S., Park, S., & Smolander, K. (2016). Where is current research on blockchain technology?—A systematic review. PLoS ONE, 11(10), e0163477.
• World Economic Forum. (2016). The future of financial infrastructure: An ambitious look at how blockchain can reshape financial services. World Economic Forum Report.
• Axelos. (2019). ITIL Foundation: ITIL 4 Edition. TSO (The Stationery Office).
• OCEG. (2019). GRC Capability Model: Red Book. OCEG.