Blockchain and Business Applications and Implications, week (1-5) All Quiz Answers with Assignments.

Share:

 Blockchain and Business Applications and Implications





PROMPT

What problem(s) is/are AKASHA solving using blockchain technology? (1-2 sentences)

What is AKASHA's target industry or market segment? Who are the end customers whose problem(s) AKASHA is seeking to solve? (1-2 sentences)

Privacy, hacking, freedo, of speech, decentralization of information. Social networks which includes interest groups, news sharing groups. End users of such platform.



PROMPT

In Module 1, Don and Alex described four opportunities for blockchain technology to reduce the transaction costs of a firm (i.e. search costs, contracting costs, coordination costs, and the costs of (re)building trust).

Which of these opportunities did AKASHA leverage? (2-3 sentences)

How did AKASHA leverage these opportunities? (2-3 sentences)

AKASHA should be able to address all the 4 transactional costs; search cost, contracting cost, coordination cost and cost of trust. Users of AKASHA would be able to find and share data/information/news that interest them. AKASHA would be able to information/notify users based on the news fed that one chooses to see. such would reduce the cost and time to find data, hence lower search costs. Through blockchain security, end users would be able to trust the content published or shared and would be able to better coordinate and contract with producer for the use of such content.


PROMPT

What benefits are AKASHA bringing to their customers by leveraging blockchain technology? (2-4 sentences)

What benefits does blockchain technology bringing to the broader social media space? (2-4 sentences)

Users of AKASHA would be able to find and share data/information/news that interest them. AKASHA would be able to information/notify users based on the news fed that one chooses to see. such would reduce the cost and time to find data, hence lower search costs. Through blockchain security, end users would be able to trust the content published or shared and would be able to better coordinate and contract with producer for the use of such content. AKASHA would allow users freedom of speech, avoid censorship and . Because there is no centralized body to censor postings, users can freely exchange ideas and contents. AKASHA rewards posts that are legit via reward of coins/token and bad posts or fake news will not be shared as these will not pass the verification tests/reviews that forms an essential part of forming a blockchain.


PROMPT

If an enterprise were to implement the AKASHA network within their organization, what corporate boundaries might get re-defined or blurred? (2-4 sentences)

Reporting structure and conventional hierarchy order may change as parties involved in a single topic would be able to directly contribute to that particular topic on the blockchain


PROMPT

In Modules 3 and 4, Don discusses some of the social implications of blockchain technology (e.g. blockchain governance; the new social contract). What are some of the social issues that AKASHA is tackling and/or aspiring to tackle with their project? (2-4 sentences)

AKASHA allows information to be shared and verified without the use of a centralized party. This would promote freedom of speech and innovation driven by the middle class and brings about pre-distribution of wealth as content producers are able to derive value directly from the content they produce.


PROMPT

Unlike many blockchain-based initiatives, the AKASHA Project has not conducted an ICO (see p.15). Based on what you have learned throughout this course, what kind of business model do you think AKASHA could use to monetize their offering? Recall the business models that Don presented in Module 2 when preparing your response. (4-6 sentences)

AKASHA can provide the following and in process monetise their offering: Elimination of middle man - AKASHA allows information to be exchange without the need for a centralized platform to collect and disseminate. Cutting out the middleman provides value as this saves cost and time for users. AKASHA can also provide value by providing secure exchange of data and allow users to only use what they want to shar eon the market place. This privacy and security enhancement from conventional platforms can be offered to users. AKASHA provides a places for intellectual properties to be transacted transparently and directly. Producers of such properties would then be able to better monetise their produce.

No comments