Blockchain

Technology
Management Information Systems 303 Group 4
Our Team

Abilia Sandoval
Presentation & Discussion

Alexis Trapp Ellie Seager

Implications Of Basics Of Technology
Business
Disadvantages

Roxana Alvarez Ian Martin

History Basics Of Technology

Claire Thomas
Implications Of
Business Advantages
Table of
contents

01
Basics of the
02
The History
Technology

03 04
Discussion
Implications for Topics
Business
01 Basics of the
Technology
Basics Of
Technology
Blockchain technology deals with
cryptographic keys or crypto
technology enabling transactions
of cryptocurrency without a
central clearing authority
(PricewaterhouseCoopers, 2023)
The significance of not having
that central authority is to keep
the transactions anonymous,
helping to avoid any deceitful
actions, think bitcoin and the
rise of cryptocurrency.
Blockchains use a piece of the
previous block in the next
sequence, allowing a record to be
kept that cannot be altered. Doing
so ensures the authenticity and
security.
The History 02
Blockchain It was invented in 2009 to
History synchronized across multiple,
independent stakeholders.

It is perfect for database for

records for a single entity,
blockchains a group of The blockchain is very safe and
entities. strong for tracking money.

Blockchain technology is The Ethereum blockchain system

separated from the currency and introduces computer programs into
its potential for other financial, the blocks, representing financial
interorganizational transactions is instruments such as bonds. These
explored. become known as smart contracts.
The blockchain was invented by
unknown person working under the
pseudonym Satoshi Nakatomo
release a white paper establishing
the model for a blockchain
03 Implications for
Business
 Advantages

Helps with preventing Transparency : through Cheaper than Traceability: an audit

Compartmentalization: traditional transactions trail is created that
fraud and unauthorized the use of a distributed
allows for segregation as it allows for documents proof of an
activity through the ledger, businesses will
in order to achieve businesses to send and asset at every step
creation a record that be aware of the identity
greater transparency receive payments Audit trail can be used
can’t be altered and is of vendor suppliers and
and security directly with no to address
encrypted status of the goods
rather than be involvement from a environmental or
uniformed like they third party human rights issues
often are
 Disadvantages
-Blockchain is much slower than the normal
database since the technology in
blockchain has many more options
-Relies on mechanisms in order to
validate transactions, even though the
mechanisms can have a low transaction
output
Blockchain also has a high implementation
cost
and is more expensive in comparison to a
traditional database
-Block chain requires the codes of all the
blocks to be to be rewritten, which can
take a lot of time and be very expensive
- It can also be inefficient to network users that are
trying to validate the same operation. This is
because only one person has the ability to
receive the reward
-It performs signature
verification which involves
signing transactions
cryptographically
-Blockchain technology also doesn't allow for
easy modification of data once its been
recorded
-While blockchain has great security in
comparison to other platforms, there are
still multiple ways that blockchain can be
compromised
Another huge disadvantage of blockchain is
that it is still a developing technology
Discussion
Topics 04
Discussion Discussion
Question #1 Question #2

What major challenges do Blockchain has many

Blockchains have currently and
how can they be solved in the
Future?
- Examples such as Security and privacy &
attacks
applications, Which application of
blockchain. technology is the
most interesting and why?
Blockchains are being implemented in many
areas of business
Thank you!
 Works Cited (Blockchain)

PricewaterhouseCoopers. (n.d.). Making sense of bitcoin, cryptocurrency and Blockchain. PwC. Retrieved
February 7, 2023, from https://www.pwc.com/us/en/industries/financial-services/fintech/bitcoin-
blockchain-cryptocurrency.html

https://www.ibm.com/topics/benefits-of-blockchain

https://www.planetcompliance.com/blockchain-and-its-impact-on-business-operations/