This Week's Reading: An Overview Of Blockchain And

Question

This week's reading introduced an overview of blockchain and This week’s reading introduced an overview of blockchain and its impact on business. Create a new thread, choose a use case from section III, and a risk for adoption from section IV. Describe a real blockchain-based product that implements your chosen use case and how your chosen risk could impact the project’s success. Then think of three questions you’d like to ask other students and add these to the end of your thread. The questions should be taken from material you read or videos you watched from this week’s assigned activities. You’re not trying to test each other, but you are trying to start a discussion. 1) Create a new thread. As indicated above, create a new thread, choose a use case from section III, and a risk for adoption from section IV. Describe a real blockchain-based product that implements your chosen use case and how your chosen risk could impact the project’s success. Then think of three questions you’d like to ask other students and add these to the end of your thread. The questions should be taken from material you read or videos you watched from this week’s assigned activities. You’re not trying to test each other, but you are trying to start a discussion. 2) Select AT LEAST 3 other students' threads and post substantive comments on those threads. Your comments should answer AT LEAST one of the questions posed in the thread and extend the conversation started with that thread. Make sure that you include the question in your comment so I can see what question you’re answering. ALL original posts and comments must be substantive. (I'm looking for about a paragraph - not just a short answer.)

Dr. Jack HW Helper · Accepted Answer

Blockchain technology has emerged as a transformative force across various sectors, particularly business. Its potential to create transparency, enhance security, and improve efficiency has made it an attractive solution for many companies. This paper will explore a specific use case of blockchain—supply chain management—through the lens of a real-world application, VeChain. It will also address a significant risk associated with the adoption of blockchain technology—regulatory compliance—and discuss how this risk could impact the success of VeChain's implementation. Additionally, I will present three questions for further discussion. Use Case: Supply Chain Management Supply chain management is critical in today's global economy, and blockchain can play a vital role in enhancing its effectiveness. One notable blockchain-based product that implements supply chain management is VeChain. VeChain operates on its own native blockchain and utilizes smart contracts to facilitate real-time tracking of goods throughout the supply chain. By providing a decentralized and immutable ledger, VeChain allows all stakeholders—from manufacturers to end consumers—to access the same information regarding product provenance, quality, and delivery status. For instance, VeChain has been adopted by various industries, including food and beverage, luxury goods, and pharmaceuticals. An example of its use can be seen in its collaboration with Walmart China, where it helps enhance food safety by tracking products from farm to store. Consumers can scan QR codes on products to verify their authenticity and source, thereby ensuring quality and safety (VeChain, 2021). Risk for Adoption: Regulatory Compliance While blockchain presents notable benefits, it is essential to address the risks that accompany its adoption. A prominent risk in the context of VeChain is regulatory compliance. As blockchain technology continues to evolve, governments and regulatory bodies are struggling to keep pace with it

This Week's Reading: An Overview Of Blockchain And ✓ Solved

This week's reading introduced an overview of blockchain and

Paper For Above Instructions

Use Case: Supply Chain Management

Risk for Adoption: Regulatory Compliance

Discussion Questions

References