DITF403 Crypto-currency and Blockchain

Description

SESSION	JUL-AUG 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DITF403 CRYPTO-CURRENCY AND BLOCKCHAIN

 

 

Assignment Set – 1

 

 

1. a. How does a cryptocurrency differ from traditional forms of currency?
2. What is Bitcoin and how does it work?

Ans 1.

1. How Does a Cryptocurrency Differ from Traditional Forms of Currency?

Cryptocurrency represents a revolutionary approach to the concept of money, distinct from traditional forms of currency in several key aspects. Traditional currencies, such as the US Dollar, Euro, or Indian Rupee, are issued and regulated by central authorities like governments and central banks. They are considered legal tender and are used as a medium of exchange, store of value, and

 

2. a. How does an ERP system handle data integration and synchronization across different departments?
3. How does blockchain technology improve data transparency and trust compared to a centralized database used in ERP systems?

Ans 2.

1. How Does an ERP System Handle Data Integration and Synchronization Across Different Departments?

An Enterprise Resource Planning (ERP) system is a centralized software solution designed to streamline business processes by integrating and synchronizing data across various departments within an organization. By consolidating data into a single unified database, an ERP system eliminates data silos and facilitates seamless communication and collaboration.

ERP systems achieve

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3. a. Are there any specific industries or sectors that have successfully implemented blockchain and ERP together?
4. What role does consensus play in blockchain technology, and how does it differ from the decision-making process in an ERP system?

Ans 3.

1. Are There Any Specific Industries or Sectors That Have Successfully Implemented Blockchain and ERP Together?

Several industries and sectors have successfully integrated blockchain technology with Enterprise Resource Planning (ERP) systems to address challenges related to transparency, traceability, and data security. One prominent example is the supply chain and logistics industry, where blockchain’s ability to provide immutable records of transactions has significantly enhanced ERP systems

 

 

Assignment Set – 2

 

4. a. How does the CAP theorem impact the design and operation of blockchain networks?
5. How does blockchain ensure the security of transactions?

Ans 4

1. How Does the CAP Theorem Impact the Design and Operation of Blockchain Networks?

The CAP theorem, or Brewer’s theorem, posits that a distributed system can achieve only two out of three properties: consistency, availability, and partition tolerance. This principle significantly influences the design and operation of blockchain networks, as blockchain inherently operates as a distributed system.

In blockchain, partition tolerance is non-negotiable. Networks are designed to continue functioning despite faults or

 

5. a. How does consensus work in a blockchain network?
6. What are the potential future developments in the blockchain technology landscape?

Ans 5

1. How Does Consensus Work in a Blockchain Network?

Consensus in a blockchain network refers to the process by which participants in the network agree on the validity of transactions and the overall state of the ledger. It is the cornerstone of blockchain technology, ensuring trust, security, and decentralization without the need for a central authority.

In a blockchain, multiple nodes maintain copies of the distributed ledger. When a new transaction occurs, it is

 

6. a. Explain the concept of smart contracts and their role in automating transactions in the supply chain.
7. How does blockchain technology ensure the immutability and integrity of land registry records, preventing unauthorized changes and reducing the risk of fraud?

Ans 6

1. Concept of Smart Contracts and Their Role in Automating Transactions in the Supply Chain

Smart contracts are self-executing agreements coded on a blockchain, with terms and conditions directly written into lines of code. They automatically execute predefined actions when specific conditions are met, eliminating the need for intermediaries and reducing manual intervention.

In the supply chain, smart