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ICTICT527 Develop and maintain blockchain solutions Assessment 3 Submitted By: Kanjanaporn Meedam Submitted To: Reynaldo

1. Research and identify industry-standard technology options for blockchain solution. In various industrial sectors, blockchain technology is being embraced. Notable industry-standard blockchain solutions encompass: 1. Ethereum: A decentralized platform for executing tamper-proof smart contracts, ensuring interference, downtime, censorship, and fraud resistance. 2. Hyperledger: An open-source endeavor hosted by The Linux Foundation, propelling blockchain technology in finance, banking, IoT, supply chains, manufacturing, and tech with industry leaders. 3.R3: An enterprise-level blockchain software firm, collaborating with 300+ participants from diverse sectors, developing Corda, its open-source blockchain platform, along with Corda Enterprise, its commercial iteration." 2. Establish the blockchain objectives. The goals of a prospective blockchain solution represent the client's overarching aspirations. These objectives delineate the envisioned outcomes following the blockchain solution's deployment. Examples encompass lessening transaction expenses, expediting transactions, decentralizing database authority, minimizing data tampering risks, and streamlining data breach detection. These aims seek to enhance operational efficiency and security within the client's realm through blockchain technology adoption. 3. Establish the blockchain purpose. The objectives of blockchain solutions can be succinctly described as follows: • Elevating data security within the client’s organization. • Fostering increased transaction transparency for the client's service users. • Delivering enhanced security in contrast to alternative data storage and recording approaches. • Dispensing control of the database across multiple locations or parties. These intentions strive to enhance the client's operations by bolstering security, transparency, and efficiency via blockchain technology. 4. Establish the blockchain requirements. Blockchain technology entails specific infrastructure requirements, spanning both hardware and software elements. Before launching a decentralized application, it's crucial to grasp these infrastructure needs, including system comprehension, adequate resource-rich infrastructure, and a foundational framework. In terms of software requirements for blockchain, this encompasses programming languages such as Solidity, widely favored by blockchain developers. Other essential software components comprise Geth, which is an Ethereum node implementation using the Go programming language, in addition to Mist. Concerning hardware, blockchain necessitates a secure, well-endowed infrastructure that includes nodes and PaaS providers responsible for maintaining the application's foundational infrastructure. 5. Identify the organisational processes suitable for blockchain technology.

 Blockchain technology is well suited for organizational processes that involve databases, transactions, or decentralized control.  Processes that are shared between several organizations, need to remain in one state without the ability to change, and have complex or versatile authentication consensuses are ideal for blockchain technology.  Blockchain technology can provide a secure and transparent way to manage these processes, ensuring that all parties have access to the same information and can trust the integrity of the data. 6. Identify the transactional types suitable for blockchain technology.  Cryptocurrency transactions- such as bitcoin, ethirium and many more  Cross-Border payments- used for streamline cross-border payments tby reducing the time and cost of the transactions  Smart asset management- This includes issuance, payment, exchange, escrow, and retirement.  Smart contracts- Self-executing contracts with terms of agreement directly written into lines of code.  Transparent recording of data and transactions- This makes it possible to exchange anything that has value. 7. Identify the organisational use-case. 8. Determine the legislation and organisational policies and procedures for the blockchain. developers should determine legislation and organizational policies and procedures for blockchain in Australia. They should analyze the findings to determine how they impact decisions regarding the proposed blockchain solution. Organizational policies also determine

the parameters within which the blockchain solution must operate to meet the client's needs. Organizational policies govern what operations are undertaken in an organization and how those operations are carried out. The specifics of how the blockchain will be designed must adhere strictly to organizational policies on topics including access to data, control of the network, methods of authentication, identification, transaction timeframes, and stakeholder reporting. In addition to organizational policies, developers must also consider legislative requirements that may impact the development and implementation of the blockchain solution. These requirements may include data protection laws, anti-money laundering regulations, and other relevant legislation. By considering both organizational policies and legislative requirements, developers can ensure that the blockchain solution is designed and implemented in a way that is compliant with relevant laws and regulations and meets the needs of the organization 9. Gather the required data. Some of the common required data that will be gathered are as follows:  Case study information  Current systems and solutions  Strategic goals and objectives  Mission statement  Vision statement 10. Design the integration workflow. 11. Determine the security for the blockchain solution. an important step in the development process. Different blockchain solutions will require different levels and types of security, and it is important to make sure that the most appropriate type is able to be selected. The security of the blockchain should be updated and maintained to prevent unauthorized access and fraudulent activities. Additionally, the blockchain should be designed to meet the specific needs of the organization and its users, and should be scalable to accommodate future growth. Finally, the blockchain should be regularly monitored and audited to ensure that it is functioning as intended and that any issues are identified and addressed in a timely manner. 12. Determine the platform for the blockchain solution. important step in the development process. The blockchain platform will provide the foundation for the blockchain solution that needs to be developed for the organization. There is a range of considerations that can be used to determine the most appropriate platform for the organization's blockchain solution

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