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Assignment On Blockchain PDF

This document is an assignment on blockchain submitted to Dr. Abureza M Muzareba at the University of Dhaka by Md. Shahin. It discusses what blockchain is, how it works, and some potential uses of blockchain technology, including supply chain management, digital identity, asset tokenization, and real estate. It also discusses how blockchain could give individuals more control over their own data and how marketers may need to adapt to interact with customers in new ways as a result of this technology.

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shahin
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815 views3 pages

Assignment On Blockchain PDF

This document is an assignment on blockchain submitted to Dr. Abureza M Muzareba at the University of Dhaka by Md. Shahin. It discusses what blockchain is, how it works, and some potential uses of blockchain technology, including supply chain management, digital identity, asset tokenization, and real estate. It also discusses how blockchain could give individuals more control over their own data and how marketers may need to adapt to interact with customers in new ways as a result of this technology.

Uploaded by

shahin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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An Assignment

On
Blockchain
Submitted To:
Dr.Abureza M Muzareba
Associate Professor
Department Of Marketing
University Of Dhaka

Submitted by:
Md.Shahin
Roll : 583
Section : B
Batch : 21st
Department Of Marketing
University Of Dhaka

Date of Submission: 17th November 2019.


Blockchain
“The blockchain [is] a distributed ledger where the recording of all those transactions isn’t just
happening in one place. It’s written in thousands and thousands and thousands of places. It can’t
go down, and it’s always transparent. You can always look it up. So it’s hard to hack because to
try to replace or erase and change the information, you’d essentially either have to take over
every single one of those computers around the world, writing it down at the same time, or you’d
have to double the whole network all at once, which [is] really kind of impossible at the scale it
is today.”

Blockchain + Marketers = What?

When the internet brought the people of Earth closer together regardless of geography, it had an
equalizing effect (for the most part): Anyone (not just the rich) with access to a computer, an
ISP, and electricity could benefit from the internet. The same thing is going to happen with data.
Every individual on the planet will have rights concerning who uses their data, and the
mechanism that will make this possible is blockchain encryption.

This coming democratization of data will not only give customers even more say about how their
data is used, but it’s going to push marketers to come up with new ways to interact with
customers that enhances the shopping experience in some way. Plus, you will still be able to
gather more accurate data about each customer than you ever could with cookies.
Usages of Blockchain
Supply Chain Management

One of the best blockchain usages is in supply chain management. The current supply chain
management uses old methods. In return, we have a lack of transparency within the supply chain.

Digital Identity

Managing identity for an individual has also become a big problem as one has to carry a plethora
of documents. It can include driving license, passport, national identity card, or any other identity
document associated with the organizations they are working for.

Asset Tokenization

Asset Tokenization is a crucial step towards protecting the real-world asset. There are many
instances when dealing with real-world asset more efficiently. For example, if you want to sell a
property, you need to do a lot of paper-work. Not only that, there are chances that you can instill
errors, making the whole process even slower.

Real Estate

The real challenges also come when it is time to verify the ownership of a property. There are
many ways fraud can happen, which can result in loss of money for the buyer.To overcome, all
of this, a decentralized blockchain ledger can help solve the issues with real estate. First of all, it
can improve rental property payments where it is easy to lease a property through the DLT. It is
also cost-effective and ensures proper decision making for the buyer.

The demand from consumers to control their own data will grow in the next few years, and
blockchain is an excellent option with its permission-based access and hard-to-crack security.
But blockchain alone won’t be enough. It’s one part of a technological solution. Compatible
systems and applications will have to be built to make it universally possible to use blockchain
encryption, but consumers (particularly in the US) will also have to be educated and demand it.

The potential of blockchain encryption is no myth, nor is it merely hype, and when you marry
technology with a consumer demand on a global scale, massive change can take place. In the
next 5 years, blockchain encryption is going to rise up as a global security solution and as a way
for individual customers to have control over their digital profiles. But even more than that,
blockchain has the power to transform society in terms of brand transparency and the
individual’s power and say-so over one’s own identity and all the data associated with that
customer.

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