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Discuss the following questions: 1. How can blockchain increase human resource management efficiencies? 2. How and why is blockchain a disruptive technology in human resource management? You are required to cite this week’s assigned readings in your paper. You may also cite prior weeks reading assignments and external sources if you wish.Use the following headings to organize your paper: Introduction, Question 1, Question 2, Conclusion, References.minimum of 500 words Your response should be formatted in APA style and reference each of this weeks readings.As always, the word count is ONLY for the BODY of the paper – the cover page, reference page, and / or Appendix (if included) do not count towards the word count for the paperIndent the first line of each new paragraph five spacesRefer to the example APA paper in the getting started folder under the content tab if you need an example. Also, a power is provided under the information tab that addresses APA format.Use double-spacing / zero point line spacing, a running header, page numbers, and left justify the margins. blockchain_for_business___jai_singh_arun___jerry_cuomo___nitin_gaur.pdf Unformatted Attachment Preview About This E-Book EPUB is an open, industry-standard format for e-books. However, support for EPUB and its many features varies across reading devices and applications. Use your device or app settings to customize the presentation to your liking. Settings that you can customize often include font, font size, single or double column, landscape or portrait mode, and figures that you can click or tap to enlarge. For additional information about the settings and features on your reading device or app, visit the device manufacturer’s Web site. Many titles include programming code or configuration examples. To optimize the presentation of these elements, view the e-book in single-column, landscape mode and adjust the font size to the smallest setting. In addition to presenting code and configurations in the reflowable text format, we have included images of the code that mimic the presentation found in the print book; therefore, where the reflowable format may compromise the presentation of the code listing, you will see a “Click here to view code image” link. Click the link to view the print-fidelity code image. To return to the previous page viewed, click the Back button on your device or app. Praise for Blockchain for Business “Much has been written about blockchain in the past few years: what it is and what it is not (at various levels of detail), as well as the technology’s long-term strategic value for companies, industries, and economies. However, what we’ve been missing is a practical, operational, ‘how to’ set of steps for creating, implementing, and operating a blockchain-based solution. This book aims to fill that gap. It’s an invaluable tool for anyone ready to take the plunge and start taking advantage of this remarkable technology. “Most technologies can be implemented one business at a time. Not so with blockchain. Blockchain is particularly valuable when applied to a collection of companies working closely together as a business ecosystem, such as a supply chain. Blockchain for Business goes into great detail about what it takes to organize and manage such an ecosystem, including the technical and business models that in the end drive the decisions about whether to join or not, and the governance necessary for a smooth, efficient operations. It also nicely explains the necessary technical expertise and management roles needed to successfully create and operate blockchain frameworks and applications. “Blockchain for Business is an invaluable tool for anyone ready to take the plunge and start taking advantage of this remarkable technology.” —Irving Wladawsky-Berger, Research Affiliate, MIT; Columnist, WSJ CIO Journal; VP Emeritus, IBM “Jai, Jerry, and Nitin have written the guidebook to address the critical knowledge gap that exists between the hype of blockchain and cryptocurrencies and the pragmatic utilization of blockchain technology for transforming businesses. Blockchain for Business leverages their firsthand insights and provides a practical approach for business and technical leaders to leverage a proven methodology to drive successful blockchain projects that deliver trust and transparency for all participants.” —Marie Wieck, General Manager, IBM Blockchain “Understand how to capture the power of the trust machine. This book contains a wealth of resources and tools for those looking to apply blockchain solutions in a business environment. A mustread for enterprise executives.” —Perianne Boring, Founder and President, Chamber of Digital Commerce “Jai, Jerry, and Nitin nailed it! Blockchain for Business addresses the critical question business leaders are attempting to answer: How does my business derive real, measurable value from blockchain? This is a practical guidebook for both the business and technology leader to help identify business value from blockchain technology in the form of new growth opportunities, sustainable competitive advantage, time savings, cost reductions, and risk mitigation—turning blockchain into business results!” —D. Keith Pigues, CEO and Founder, Luminas Strategy, Coauthor Winning with Customers: A Playbook for B2B “Blockchain for Business is a must-read for executives looking to define blockchain’s potential to transform business processes. Jerry, Jai, and Nitin have comprehensively described the key steps business leaders should take to identify the right scope, select the best technology, and establish an appropriate business model and governance structure.” —Arvind Krishna, SVP, Hybrid Cloud and Director of IBM Research Blockchain for Business Jai Singh Arun Jerry Cuomo Nitin Gaur Boston • Columbus • New York • San Francisco • Amsterdam • Cape Town Dubai • London • Madrid • Milan • Munich • Paris • Montreal • Toronto • Delhi • Mexico City São Paulo • Sydney • Hong Kong • Seoul • Singapore • Taipei • Tokyo Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed with initial capital letters or in all capitals. The authors and publisher have taken care in the preparation of this book, but make no expressed or implied warranty of any kind and assume no responsibility for errors or omissions. No liability is assumed for incidental or consequential damages in connection with or arising out of the use of the information or programs contained herein. For information about buying this title in bulk quantities, or for special sales opportunities (which may include electronic versions; custom cover designs; and content particular to your business, training goals, marketing focus, or branding interests), please contact our corporate sales department at corpsales@pearsoned.com or (800) 382-3419. For government sales inquiries, please contact governmentsales@pearsoned.com. For questions about sales outside the U.S., please contact intlcs@pearson.com. Visit us on the Web: informit.com/aw Library of Congress Control Number: 2018968178 Copyright © 2019 Pearson Education, Inc. All rights reserved. This publication is protected by copyright, and permission must be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permissions, request forms and the appropriate contacts within the Pearson Education Global Rights & Permissions Department, please visit www.pearsoned.com/permissions/. ISBN-13: 978-0-13-558135-3 ISBN-10: 0-13-558135-4 1 19 Dedicated to My mom and dad, Saroopi Devi and Phusiya Ram, who gave me existence in this world; my siblings, who encourage me with admiration; my darling Varshal, who strengthens my soul with love and inspires me; my daughter Saachi and son Yogya, who enlighten me with joy every day. And in memory of my loving brother Mr. Omprakash Arun (1968– 2013); my angel sister Ms. Babita Arun (1988–2016); and my respected father-in-law Mr. Chandrahas Mayekar (1943–2016). —Jai Singh Arun My darling Steph. Not since Lennon and McCartney has there been a more prolific pair of composers like the two of us. —Gennaro Cuomo My parents, for their unconditional love; my spouse Ritu, for her unconditional support; and my son Neil, who inspires me every day. —Nitin Gaur Contents Foreword Preface Acknowledgments About the Authors Chapter 1 Introduction to Blockchain Blockchain Beliefs Enterprise Blockchain Why Blockchain Matters The Trailblazers Founders Scope: Dream Large and Act Incrementally Motivation: Driving Momentum within the Ecosystem Governance: The Total Is Greater Than the Sum of the Parts Blockchain for Good Reducing Foodborne Illnesses Eliminating Big Data Breaches Preventing Counterfeiting Blockchain Questions from Business and Technology Leaders Does Blockchain Apply to My Industry and Business Objectives? How Does Blockchain Drive Top-Line Growth and Competitive Advantage for My Business? What Value-Added Business Models Does Blockchain Present? How Does Blockchain Network Governance and Design Work? Do I Need a Dedicated Blockchain Development Team? What Is the Cost of Implementing Blockchain? Other Questions Chapter Summary References Chapter 2 Opportunities and Challenges Disruptive Elements Transparency Immutability Security Consensus Smart Contracts Opportunities Transformative Power of Blockchain Transformative Opportunities Challenges Scope Motivation Governance Technology Chapter Summary References Chapter 3 Understanding the Technology Landscape Blockchain: A Technical Perspective The Four Building Blocks Why Blockchain? Blockchain as a Consumable Technology Blockchain for Enterprises Enterprise View of Blockchain: Technology and Business Domain Litmus Tests to Justify the Application of Blockchain Technology Technology, Business, and Regulatory Considerations for Blockchain Essential Maturity Imperatives for Enterprise Blockchain Token Revolution Asset Tokenization: Essential to Powering the NextGeneration Digital “Instance” Economy Introduction to Tokenization: Understanding the Token Revolution Various Industry Definitions Token Valuation Models and the Instance Economy Understanding Digital Asset (Token) Fungibility: Opportunities and Challenges Related to Token Valuation and Blockchain Ecosystems Defining Fungibility Considerations for Meaningful and Sustainable Blockchain-Powered Business Networks Enterprise Integration: Coexisting with Existing Systems of Record Blockchain Network Extensibility Blockchain Project Sustainability Chapter Summary References Chapter 4 Business of Business Models Path to Blockchain Enterprise Adoption: A Prescriptive Approach 1. Identify an Appropriate Use Case 2. Devise a Business Blueprint: Distilling an Existing Business Process 3. Map the Business Blueprint to Technology Tenets: Devising a Technology Blueprint 4. Ensure Enterprise Integration with (Legacy) Enterprise Systems Business Modeling and Design Business Model Considerations Chapter Summary Chapter 5 Developing a Governance Structure for Blockchain Networks Governance Structure and Landscape Technology Infrastructure Governance Network Membership Governance Business Network Governance SCTrustNet Business Network Governance Network Membership Governance Network Infrastructure Governance Chapter Summary Chapter 6 Building a Team to Drive Blockchain Projects Enterprise Structures in a Decentralized Economy Centralized Structure Decentralized Structure Hybrid Structure Roles of an Enterprise in a Blockchain Network Founders Members Operators Users Building an Effective Team Project Team Roles Intraprise Synergy An Example of a Blockchain Project Team Blockchain Technology Solution Team Chapter Summary Chapter 7 Understanding Financial Models, Investment Rubrics, and Model Risk Frameworks Understanding Blockchain Project Financial Fundamentals Blockchain Investment Rubric Proof of Concept or Design Business Valuation Governance and Risk Growth and Scale Return on Investment Modeling Net Present Value Internal Rate of Return Benefit–Cost Ratio (BCR) Payback Period Risk Modeling Blockchain Model Risk Framework Chapter Summary References Chapter 8 Looking Ahead: What Does the Future Hold? The Network of Networks Blockchain at the Nexus of Technology Blockchain and Artificial Intelligence Blockchain and the Internet of Things Blockchain and Quantum Computing Blockchain Opportunities and Challenges: What Lies Ahead? Overall Summary References Index Foreword I’m delighted to provide some context for this enormously thoughtful and eminently practical book, Blockchain for Business. When Alex Tapscott and I wrote the first edition of Blockchain Revolution in 2016, we characterized blockchain as a platform for conducting transactions of value. We explained that for nearly four decades, we had the Internet of information. It vastly improved the flow of data within and among firms and people, but it didn’t transform the deep architecture of the firm. That’s because the Internet was designed to move information from person to person. It wasn’t designed to solve what cryptographer David Chaum called the “double-spend problem,” the ability to spend a single digital dollar in two places online.1 1. David Chaum. “Blind Signatures for Untraceable Payments.” Advances in Cryptology: Proceedings of Crypto 82 (January 1982): 199–203. Now for the first time ever we have a native digital medium for value, through which we can transfer any asset—from money and music to votes and intellectual property—peer to peer in a secure and private way. Trust is achieved not necessarily by intermediaries like banks or governments, but by cryptography, collaboration, and clever code. Based on the success of the book, Alex and I founded the Blockchain Research Institute (BRI), a think tank dedicated to investigating blockchain use cases and the leadership required to drive experimentation and change in an organization. Our membership has grown to include global corporations, governments, nonprofit organizations, and members of the blockchain start-up community. IBM’s CEO, Ginni Rometty, recognized the transformative potential of blockchain technology early on, and IBM became a founding member of the BRI. Gennaro “Jerry” Cuomo, co-author of this book, participated in the opening panel of the BRI’s first all-member summit in the fall of 2017. His contributions were invaluable to the executives in attendance. Since then, we’ve expanded the program to nearly 100 projects across 10 industry vertical groups and nine Csuite roles in both the public and private sectors. IBM has been an active member, open to sharing what its teams have learned in their collaborations with Walmart and the Brooklyn Roasting Company on food traceability, with Maersk on digitizing global shipping, and with Unilever on tracking digital ad buying.2 2. Reshma Kamath. “Food Traceability on Blockchain: Walmart’s Pork and Mango Pilots with IBM.” Journal of the British Blockchain Association (June 12, 2018). jbba.scholasticahq.com/article/3712-food-traceability-on-blockchain-walmart-spork-and-mango-pilots-with-ibm; IBM Corporation and Brooklyn Roasting Company. “Transparency from Farm to Cup.” The Blockchain Bean, May 1, 2017. www.ibm.com/thought-leadership/blockchainbean; Larry Dignan. “Unilever Aims to Force More Digital Ad Transparency, Plots Blockchain Pilot with IBM.” ZDNet, February 12, 2018. www.zdnet.com/article/unilever-aims-to-force-more-digital-adtransparency-plots-blockchain-pilot-with-ibm; Nicky Morris. “Maersk/IBM Complete Supply Chain Blockchain Pilot.” Ledger Insights, August 9, 2018. www.ledgerinsights.com/maersk-ibm-supply-chain-blockchain-pilot-tradelens. The crucible of common experience leads to similar thinking. That’s probably why these themes of Jai Singh Arun, Jerry Cuomo, and Nitin Gaur’s book, Blockchain for Business, resonate so much with our own—and in my view, are spot on. Digital identity. Jai, Jerry, and Nitin highlight the role of digital identity throughout Blockchain for Business. Indeed, Jai is a thought leader in this area, the co-author of one of IBM’s important works, “Trust Me: Digital Identity on Blockchain.”3 This is a big deal, and it was a big idea of the paperback edition of Blockchain Revolution. Alex and I underscored the need for self-sovereign identities, using blockchain as a means of bootstrapping our identities and enforcing them in any context without a third party. We reported on the work of the Decentralized Identity Foundation (DIF), a consortium of which IBM is a member. DIF was formed to combine “decentralized identities, blockchain IDs, and zero-trust data stores that are universally discoverable.”4 Its working groups are focusing on three big areas—identifiers and discovery, storage and computation of data, and attestation and reputation—with an eye toward developing use cases and standards.5 IBM has contributed a lot to these endeavors, working with ATB Financial, Evernym, the Sovrin Foundation, and Workday on verifiable credentials, and with SecureKey Technologies on a new digital identity and attribute sharing network with a mobile app, among its many collaborations.6 3. Jai S. Arun and Alexander Carmichael. “Trust Me: Digital Identity on Blockchain.” IBM Institute for Business Value, April 2017. public.dhe.ibm.com/common/ssi/ecm/gb/en/gbe03823usen/gbe03823usen00_GBE03823USEN.pdf 4. Identity.Foundation. “Decentralized Identity Foundation” n.d. identity.foundation. 5. Identity.Foundation. “Working Groups.” n.d. identity.foundation/#wgs. 6. Dan Gisolfi. “Decentralized Identity: An Alternative to Password-Based Authentication.” Blockchain Unleashed: IBM Blockchain Blog. IBM Corporation, October 5, 2018. www.ibm.com/blogs/blockchain/2018/10/decentralized-identityan-alternative-to-password-based-authentication; Adam Gunther. “Collaboration: Unlocking Decentralized, Digital Identity Management through Blockchain.” Blockchain Unleashed: IBM Blockchain Blog. IBM Corporation, April 4, 2018. www.ibm.com/blogs/blockchain/2018/04/collaboration-unlocking-decentralizeddigital-identity-management-through-blockchain. Opportunities and challenges. Concerted effort to transform obstacles into opportunities has been the most important factor in the blockchain’s success thus far. Executives need to understand the regulatory uncertainty, the level of energy consumed by proofof-work consensus mechanisms, the efforts of governments such as China and Russia to limit individual use of cryptocurrencies, and the fears that blockchain technology will be a job killer, to name a few areas of concern. We wrote quite a bit about these issues, and we applaud the authors for tackling them head-on. Business models. The business models for blockchain are largely decentralized networks, subject to network effects such that when the number of nodes increases, so does the size of the business model. Jai, Jerry, and Nitin have described four important business models: founder-led networks, joint ventures, the consortium, and business ecosystems. They outline a four-step process for moving from pilot project to enterprise integration. It’s very hands-on. Governance. The blockchain space is full of formal and informal leaders. Some have executive roles in start-up, blockchain consortia, and regulatory bodies, and others possess vision and talent that are both compelling and influential. We wrote extensively about the need for governance networks— multistakeholder networks in the domains of standards development, policy guidance, community advocacy, knowledge, and education, among others. Jai, Jerry, and Nitin were wise to cast these issues in practical terms of permissioned and permissionless blockchains, with on-chain and off-chain governance of protocols and the applications that run on them. These issues will be critical to the scaling, interoperability, and crisis management of these systems over time. Team building. Here’s where the rubber meets the road in enterprise blockchain pilots. IBM has vast experience in this area, assembling teams across divisions within its own firm and working across industries and national boundaries. The authors provide a guide to getting the right people on the team and then managing the project effectively, so that the enterprise can leverage success and learn from failure. Financial models. The financial services industry has become somewhat of a Rube Goldberg contraption that performs eight basic functions: verifying identity, transferring payments, holding savings, making loans, trading assets, investing capital, insuring assets and managing risk, and accoun ... Purchase answer to see full attachment