BUS475 v10Wk 1 Advanced OrganizerBUS475 v10Page 2 of 3.docx

BUS/475 v10
Wk 1: Advanced Organizer
BUS/475 v10
Page 2 of 3
Wk 1 Apply: Degree of AlignmentAdvanced Organizer
Review the companies listed in the case studies portion of the
textbook. Choose 1 of the companies to use for all weekly
assessments. Complete the chart below with information
provided in the textbook and other resources. Provide your
analysis below the chart.
Selected Organization:Describe the organization in the follow
chart:
Element
Description
Mission
To Bringing the best user experience to its customers through
its innovative hardware, software and services.
Vision
We believe that we are on the face of the earth to make great
products and that’s not changing.
Values
Accessibility, Education, Environment, Inclusion & Diversity,
Learn More, Privacy and Supplier Responsibility
Structure
Apple Inc. has a hierarchical organizational structure, with
notable divisional characteristics and a weak functional matrix.
The hierarchy is a traditional structural feature in business
organizations. The divisional characteristics refer to the
product-based grouping within Apple, such as for iOS and
macOS.
Culture

Apple’s Organizational Culture Type and Characteristics.
Apple Inc. has an organizational culture for creative innovation.
The company’s cultural features focus on maintain a high level
of innovation that involves creativity and a mindset that
challenges conventions and standards.
Analysis
Based on your advanced organizer and further research, analyze
the degree of alignment between what the organization is
currently doing (actions) and their mission, vision, values,
structure, and culture.
I think that Apple's Vision and mission statement is the
foundation for this company’s success as one of the most used
and valuable companies in the world. This company was
established in 1976 and has moved forward to become a
company that is full of innovation. This one trait alone is one of
Apple’s major business strengths. The success of Apple is due
to them taking their business strength and overcoming
weaknesses.
Citations
Access the Reference & Citation Generator for citation
assistance.
Meyer, P. (). Panmore Institude. Retrieved from
http://panmore.com/apple-inc-organizational-structure-features-
pros-cons
Meyer, P. (2020). Panmore Institude. Retrieved from

http://panmore.com/apple-inc-organizational-culture-features-
implications
Copyright 2019 by University of Phoenix. All rights reserved.
BUS/475 v10
Wk 1: Advanced Organizer
BUS/475 v10
Page 2 of 3
Wk 1 Apply: Degree of AlignmentAdvanced Organizer
Review the companies listed in the case studies portion of the
textbook. Choose 1 of the companies to use for all weekly
assessments. Complete the chart below with information
provided in the textbook and other resources. Provide your
analysis below the chart.
Selected Organization:Describe the organization in the follow
chart:
Element
Description
Mission
To Bringing the best user experience to its customers through
its innovative hardware, software and services.
Vision
We believe that we are on the face of the earth to make great
products and that’s not changing.
Values
Accessibility, Education, Environment, Inclusion & Diversity,
Learn More, Privacy and Supplier Responsibility
Structure
Apple Inc. has a hierarchical organizational structure, with
notable divisional characteristics and a weak functional matrix.

The hierarchy is a traditional structural feature in business
organizations. The divisional characteristics refer to the
product-based grouping within Apple, such as for iOS and
macOS.
Culture
Apple’s Organizational Culture Type and Characteristics.
Apple Inc. has an organizational culture for creative innovation.
The company’s cultural features focus on maintain a high level
of innovation that involves creativity and a mindset that
challenges conventions and standards.
Analysis
Based on your advanced organizer and further research, analyze
the degree of alignment between what the organization is
currently doing (actions) and their mission, vision, values,
structure, and culture.
I think that Apple's Vision and mission statement is the
foundation for this company’s success as one of the most used
and valuable companies in the world. This company was
established in 1976 and has moved forward to become a
company that is full of innovation. This one trait alone is one of
Apple’s major business strengths. The success of Apple is due
to them taking their business strength and overcoming
weaknesses.
Citations

assistance.
Meyer, P. (). Panmore Institude. Retrieved from
http://panmore.com/apple-inc-organizational-structure-features-
pros-cons
Meyer, P. (2020). Panmore Institude. Retrieved from
http://panmore.com/apple-inc-organizational-culture-features-
implications
Apple Inc.’s success is connected to the capability to use
business strengths to defeat weaknesses and threats, and to
utilize opportunities in the industry environment. Based on the
strengths and opportunities, a SWOT analysis of the company
shows insight of the strategic actions of the business, especially
increasing its growth. The SWOT analysis structure is a
strategic management decision-making tool that determines the
highest pressing issues facing the company, based on the
outside actors and the internal business. In this case, the SWOT
analysis of Apple Inc. scans the business for relevant strengths,
weaknesses, opportunities, and threats (SWOT variables), with
mention of various productions and markets. Some of the
service industries involved with the company include hardware
and software, consumer electronics, cloud computing services,
and online digital content distribution service industries. This
inclusion of various productions and markets is a strategy used
by Apple in their efforts to continuously expand their business
and remain as a top competitor amongst the growing industry.
The factors that influence the decisions of the CEO, Tim Cook,
and managers in developing the business is the presentation of
the SWOT analysis of Apple Inc. With its operations in various
markets around the world, the company deals with different sets

of SWOT factors based on regional situations. Also, the Porter’s
Five Forces analysis of Apple Inc. confirms that the company
faces the strong force of competition linked to the
combativeness of competing technology firms, such as IBM,
Amazon.com, Google , Samsung, Sony, Lenovo, Dell, and
PayPal. This competitive landscape requires innovative
strategies and tactics to achieve continuous business growth and
development, and to fulfill Apple’s corporate mission statement
and corporate vision statement.
This aspect of the SWOT analysis framework points out the
strengths that enable the company to overcome weaknesses, take
control of opportunities, and resist threats in their business
environment. These strengths are internal factors specific to the
conditions within the business organization. In this case, the
following are the most significant strengths of Apple Inc.:
1. Strong brand image
2. High profit margins
3. Effective rapid innovation processes
Apple Inc. has the opportunity to expand its’ distribution
network. Such opportunity directly relates to the weakness of
the company’s limited distribution network. This SWOT
analysis emphasizes the need for the company to change its’
distribution strategy. An expanded distribution network can
help Apple reach more customers in the global market. In
relation, the company has the opportunity to increase their sale
volumes through aggressive marketing, especially for mobile
products. This opportunity is linked to the rising demand for
mobile access, as illustrated in the PESTEL/PESTEL analysis of
Apple.com. So, this means, the company has the opportunity to
explore new product lines. The current product lines of Apple
are highly successful. However, with further innovation, the
company can develop and introduce new products similar to
what they have achieved with the Apple Watch. Developing new
product lines can support business growth in the international
market. Thus, this aspect of the SWOT analysis of Apple

indicates that the business has major opportunities for further
growth despite aggressive competition.
In this aspect of the SWOT analysis, the focus is on the threats
that the company experiences from various sources, such as
competitors. Threats are external factors that limit or reduce the
financial performance of businesses. In Apple’s case, the
following threats are the most significant:
1. Aggressive competition
2. Imitation
3. Rising labor cost in various countries
Tough competition in the industry is partly because of the
aggressiveness of firms. Apple competes with firms like
Samsung, which also uses rapid restructuring. In this scene of
this SWOT analysis, aggressive competition has a limiting
effect on Apple Inc. Because of the invading competing firms, it
is necessary to have strong elements for maintaining
competitive advantages. In addition, the company faces the
threat of emulation. This threat is significant because of the
large number of local and intercontinental firms that imitate the
design and features of Apple’s products. Additionally, rising
labor costs involving contracts with other businesses, such as
those in China, reduce gross production or push selling prices
even higher. Based on the external strategic factors in this
SWOT analysis, Apple Inc.’s performance could suffer because
of aggressive competition and imitation of product design.
All factors discussed in this SWOT analysis indicate that Apple
Inc. possess major strengths to effectively address
organizational weaknesses. The company can also use these
strengths to utilize opportunities, such as the enlargement of its
distribution network. Furthermore, the company can use its
strong image and rapid innovation processes to successfully
develop and launch new product lines. Apple can also face the
threats of aggressive competition and imitation, which are major
challenges affecting companies in the global market for
consumer electronics, computer hardware and software.
Based on the strategic affairs highlighted in this SWOT analysis

of Apple Inc., a recommendation is to continue the aggressive
and rapid change including developing the company’s products.
Such change reduces the adverse effects of reproduction on
proceeds. Also, it is recommended that the company further
intensifies the automation of its production processes, and
support the automation of its contract manufacturers, as a way
of addressing the rising labor costs involving Apple product
mass productions. Another recommendation is to establish
partnerships with more traders to improve the overall market
reach of the company’s distribution network.
· Apple Inc.’s Website.
· Bernroider, E. (2002). Factors in SWOT Analysis Applied to
Micro, Small-to-Medium, and Large Software Enterprises: An
Austrian Study. European Management Journal, 20(5), 562-573.
· Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis
– where are we now? A review of academic research from the
last decade. Journal of Strategy and Management, 3(3), 215-
251.
· Heracleous, L. (2013). Quantum strategy at Apple
Inc. Organizational Dynamics, 42(2), 92-99.
BUS/475v10
WK 2 Apply: SWOT Analysis
BUS/475v10
Page 2 of 2
Wk 2 – Apply: SWOT AnalysisName: Selected Organization:
Complete a SWOT analysis from a global perspective, if
applicable.
Strengths
Weaknesses
Customer Focus
Loyal customer base
Innovative products
Marketing advertising
Brand identity

Distribution chain
Matching customer expectations
Lack of competition
Incompatibility
Premium pricing
Lack of promotions
Opportunities
Threats
Steady customer growth
Expand distribution networks
Smart wearable technology
Lack of green technology
Qualified professionals
Laptop competition
Lawsuits
Counterfeit products
Rising labor cost in other countries
Analysis
Summarize your findings from the SWOT analysis for the CEO
of the organization you chose. Address the following in your 2-
to 3-page summary:
· How would you match the organization’s strengths to its
opportunities?
· How would you convert the organization’s weaknesses into
strengths?
· What recommendations do you have to mitigate the impact of
the threats?
· What action(s) does the organization need to take to advance
their organization goals and/or expand their competitive
advantage?
· Why does the organization need to take this/these action(s)?

Citations
assistance.
Third World QuarTerly, 2017
Vol. 38, No. 8, 1710–1732
https://doi.org/10.1080/01436597.2017.1298438
Will blockchain emerge as a tool to break the poverty chain in
the Global South?
Nir Kshetri
Bryan School of Business and economics, The university of
North Carolina at Greensboro, Greensboro, NC, uSa
ABSTRACT
Just like its recent predecessors, blockchain – also known as the
distributed ledger technology – is considered to have the

potential
to cause major economic, political and social transformations in
the
Global South. The visible effects of this technology are already
being
noted there. We present early evidence linking the use of
blockchain in
overcoming some economic, social and political challenges
facing the
Global South. The article highlights the key applications and
uses of
blockchain in developing countries. It demonstrates how
blockchain
can help promote transparency, build trust and reputation, and
enhance efficiency in transactions. The article looks at
opportunities
and key triggers for blockchain diffusion in these countries. It
also
delves into challenges and obstacles that developing economies
are
likely to encounter in the use of blockchain.
Introduction
Just like its recent predecessors such as cloud computing1 and
the Internet of Things (IoT),2
blockchain – also known as the distributed ledger technology –
is considered to have the
potential to cause major economic, political and social
transformations in the Global South
(GS). Some have touted blockchain as the biggest innovation in
computer science.3 Others
consider this technology to be ‘the biggest disruptor to
industries since the introduction of
the Internet’.4 The World Economic Forum (WEF) considers
blockchain to be among six com-

puting ‘mega-trends’ that are likely to shape the world in the
next decade.5
A blockchain can be viewed as a data structure which makes it
possible to create a tam-
per-proof digital ledger of transactions and share them.
Cryptography allows anyone access
to add to the ledger securely. There is no central authority or a
middleman such as a bank
or financial institution.6 It is impossible or extremely difficult
to change or remove data blocks
recorded on the ledger.7 Due to these features, blockchain can
arguably make it possible to
reduce or eliminate integrity violations such as fraud and
corruption, and reduce transaction
costs.
According to the WEF, 10% of the global gross domestic
product (GDP) will be stored on
blockchain by 2027,8 compared to 0.025% in 2016.9 While
most discussion of blockchain
© 2017 Southseries inc., www.thirdworldquarterly.com
KEYWORDS
Blockchain
corruption
land registry
microinsurance
smart contract
transparency
ARTICLE HISTORY
received 5 September 2016
accepted 20 February 2017

CONTACT Nir Kshetri [email protected]
mailto: [email protected]
http://www.tandfonline.com
http://crossmark.crossref.org/dialog/?doi=10.1080/01436597.20
17.1298438&domain=pdf
THIRD WORLD QUARTERLY 1711
focuses on bitcoin, this paper addresses additional, potentially
more important, influences
of this technology in the GS.
Blockchain affects economic, social and political outcomes in
the GS by many direct and
indirect pathways. As noted above, the first of blockchain’s
direct benefits is potential reduc-
tion of corruption and fraud. For instance, blockchain can
empower donors. It can ensure
that donations reach the intended recipients. To give an
example, donors can buy electricity
for a South African School using bitcoin. A blockchain-enabled
smart meter makes it possible
to send money directly to the meter. There are no organisations
involved to re-distribute
funds. Donors can also track electricity being consumed by the
school and calculate the
power their donations can buy.10 This programme was launched
by South African bitcoin
startup Bankymoon via the crowdfunding platform Usizo. It
allows African public schools to
use blockchain to crowdsource utility credits.11
Increase in efficiency and reduction in transaction costs
constitute a second kind of ben-

efit. There is no third party or central body involved. That is,
blockchain transactions are
conducted by the concerned parties themselves. There are
already some signs of block-
chain-led disintermediation in international remittances and
international trade finances.
In September 2016, the Chinese government announced that
blockchain will be used in its
social security system in order to lower transactions costs. In
2015, China’s National Council
for Social Security Fund managed US$285 billion.12
To be sure, blockchain is in its infancy. Some compare the
current level of development
to ‘the World Wide Web in the early 1990s’.13 Nonetheless,
multinationals, local companies
and policymakers have devoted considerable attention to
blockchain. The renowned
Peruvian economist Hernando de Soto, who is well known for
his work on informal and
unofficial economy, is involved in the development of a
blockchain-based platform for prop-
erty records in the Republic of Georgia.
Major global technology companies and software vendors such
as IBM and Microsoft
have extended their offerings to incorporate numerous services
around blockchain. For
instance, in September 2016, IBM announced an internal re-
organisation to build blockchain
capability. A new unit called Watson Financial Services
integrates Watson, cloud, and block-
chain-related offerings and strategy.14 IBM also created new
roles specifically devoted to
blockchain. These companies’ blockchain-related offerings are
available in the GS. IBM’s India

research labs are involved in some of IBM’s blockchain-related
work.15 GS-based firms are
also susceptible to pressure to adopt blockchain from their
business partners and other
value-delivery network members from the industrialised world.
We present early evidence linking blockchain use to overcoming
economic, social and
political challenges facing the GS. The paper is structured as
follows. We proceed by first
providing a literature review of key challenges in GS
economies. Next, we look at blockchain’s
applications and uses to overcome these challenges. Then, we
examine the opportunities
and key triggers for blockchain diffusion. The section following
this looks at the challenges
and obstacles. It is followed by a section on discussion and
implications. The final section
provides concluding comments.
Literature review: key challenges facing the GS
Causes of economic prosperity and poverty
There are many and varied sources of underdevelopment, which
include colonialism
(Howard, 1978) dependence on commodities,16ethnic tension
and political violence.17 In
1712 N. KSHETRI
this paper, we focus on institutional environments. Poor
countries mostly lack good institu-
tions that ensure strict enforcement of property rights, have the

ability to deal with corrupt
practices effectively, and provide equal opportunity to all
members of society.18
The lack and poor enforcement of property rights
According to a 2011 report of the United Nations (UN) Food
and Agriculture Organization
(FAO) and Transparency International, in over 61 countries,
weak governance led to corrup-
tion in land occupancy and administration. Corruption varied
from small-scale bribes to the
abuse of government power at the national, state and local
levels.19
Enforcement of property rights increases incentives to invest
and provides resources to
get out of the poverty trap. Clear property rights would allow
entrepreneurs to use the assets
as collateral and thus increase their access to capital. A large
proportion of poor people in
the GS lack property rights. For instance, about 90% of land is
undocumented or unregistered
in rural Africa. Likewise, the lack of land ownership remains
among the most important
barriers to entrepreneurship and economic development in
India.20 One estimate suggested
that over 20 million rural families in India did not own land and
millions more lacked legal
ownership to the lands they built houses on, lived on and
worked.21 Indeed, landlessness is
arguably a more powerful predictor of poverty in India than
caste or illiteracy.22
Disregard and lack of respect of the rule of law
In some GS economies, the rule of law is disregarded and not
respected by corrupt politicians,

government officials and other powerful groups. These groups
sometimes expropriate the
incomes and investments of poor people or create an uneven
playing field.
Less opportunity for disadvantaged groups
Economically and socially disadvantaged groups have less
opportunity to access finance,
credit, insurance, education and other things. These groups thus
cannot make investments
and participate in productive economic activities. Consider for
instance, insurance. In India,
86% of the rural population and 82% of the urban population
lacks health insurance.23
Regarding access to finance, in China, small and medium-sized
enterprises (SMEs) account
for 70% of GDP but have access to 20% of financial
resources.24 Eighty-nine percent of SMEs
in the country face difficulty in satisfying banks’ requirements
to get loans.25 Small borrowers
often lack sufficient collateral required by most traditional
banks.26
Unavailability of financing is a more critical barrier faced by
most entrepreneurs. For
instance, despite high interest rates, demand for credit exists in
most GS economies. Banks in
the Democratic Republic of Congo (DRC) reject over one-third
of credit and loan applications.
The fact that they cannot enforce their legal rights as lenders
has led to the risk-averse behav-
iour of the banking industry. This situation is a manifestation of
a broader structural problem
in the GS, such as the DRC in which a large proportion of the
population lacks access to formal

banking institutions.27 The situation is not much different in
other GS economies. For instance,
in Africa, only 20% have bank accounts – 10% in Kenya, 5% in
Tanzania and 15% in Liberia.28
Barriers related to measurement, implementation, enforcement
and
transaction costs
A related point is that poor-quality institutions lead to
transaction cost-related barriers. To
make this statement meaningful requires a more detailed
discussion of what is meant by
transaction costs. In the context of business transactions
involving two or more parties, for
Douglas North, ‘transaction costs are … two things: (1) the
costs of measuring the dimensions
of whatever it is that is being produced or exchanged and (2)
the costs of enforcement’.29
He goes on to say that ‘a lot of what we need to do is to try to
measure the dimensions of
what we are talking about in such a way that we can define them
precisely’.30
Many GS economies are faced with challenges in enforcing
commercial contracts, social
and economic rights, laws and regulations (eg agro-
environmental), and standards (eg pol-
lution-related). Put differently, these economies are
characterised by the lack of effective
enforcement mechanisms. Emphasising the importance of

measurements in enforcement,
North argues: ‘Without being able to measure accurately
whatever it is you are trying to
enforce, there cannot be effective enforcement, even as a
possibility’.31 The technology avail-
able is among the important factors that affect the costs of
measurement and enforcement
and hence the transaction costs.32 In this regard, blockchain can
make up for the lack of
relevant institutions or the problems associated with high
transaction costs.
Enforcement can be implemented at three levels: first party,
second party and third
party.33 It is suggested that third-party enforcement
mechanisms, which are often formal
coercive enforcement measures by the state, have been
relatively ineffective in the GS.34
Blockchain has the potential to strengthen the governments’
enforcement powers and sanc-
tions against individuals or organisations that breach
regulations.
Key blockchain applications to overcome challenges facing the
Global South
Some of the key current applications and future prospects of
blockchain are presented in
Table 1. As is clear from the table, various barriers and
challenges faced by the GS can be
addressed through blockchain. In parentheses, we indicate how
the use cases have the
potential to address various causes of poverty by strengthening
the rule of law (SRL), helping
to enforce property rights (EPR) and creating opportunity for
disadvantaged groups (ODR).

Promoting transparency and reducing fraud and corruption
Blockchain can help achieve transparency in various settings. In
mid-2016, Ant Financial,
Alibaba’s online payments affiliate, announced the launch of
blockchain technology for
payments. Blockchain was first applied to Alipay’s donation
platform. Donors on its ‘Ant Love’
charity platform can track transaction histories, and understand
where their funds go and
how they are used.35 The goal is to increase transparency and
provide a trust mechanism by
recording each payment and spending of donations on the
blockchain.
The use of fake export invoices to disguise cross-border capital
flows has been pervasive
in China. Since China has maintained strict capital control
regimes, some importers and
exporters falsify trade transactions in order to move capital in
and out of the country. Many
banks do not check the authenticity of trade documents.36
During April to September of
2014, China found US$10 billion worth of fake trade
transactions.37 Some major fraud cases
were in Qingdao, the world’s seventh-busiest port. Some firms
had used fake receipts to
secure multiple loans against a single cargo of metal.38
The Qingdao frauds involved 300,000 tons of alumina, 20,000
tons of copper and 80,000
tons of aluminium ingots.39 Due to the scandals, Chinese banks
charge higher interest rates

1714 N. KSHETRI
Table 1. Blockchain in the Global South: some applications
currently in use or being developed.
aSee note 12.
bSee note 11.
cSee note 41.
dSee note 44.
eredherring.com “Georgia Pilots and Sweden Ponders.”
fSee note 50.
gSee note 54.
hSee note 55
iSee note 59
jSee note 62.
kSee note 63, 64.
lSee note 65.
mSee note 75, 76.
nSee note 60.
oSee note 78.
pMaiya “Benefit with Blockchain.”
ePr: helping to enforce property rights, odr: creating
opportunity for disadvantaged groups, Srl: strengthening the
rule
of law.
Blockchain use Explanation and examples
Promoting transparency and reducing fraud and corruption
alipay’s donation platform (odr)a
South africa’s Bankymoon allows public schools in africa
to use blockchain to crowdsource utility credits (odr)b
Standard Chartered and dBS Group’s blockchain-based

platform detects falsification and frauds in trade
transactions (Srl)c
ukraine’s blockchain-based eauction platform (Srl, ePr)d
a Peruvian political party, Peru Possible, told voters that it
would use blockchain to fight corruptione (Srl).
reducing friction and costs of property registration honduran
government’s plan to transfer land registry
onto a blockchain-enforced digital database (ePr)f
Bitland’s blockchain-based land registry system based in
Ghana (ePr)g
BitFury and the Georgian government’s agreement to
develop a system for registering land titles using
blockchain (ePr)h
Promoting efficiency in international B2B trade and
increasing access to trade and supply chain finance
Skuchain’s blockchain-based products for B2B trade and
supply chain finance (odr)i
reducing costs and increasing efficiency in international
payment systems
Bitspark’s bitcoin remittance from hong Kong to GS
economies (odr)j
Bitsoko uses bitcoin for money transfer, remittance
services and payment processing in Ghana, Zimbabwe,
uganda, Sierra leone and rwanda (odr)k
Mexico’s mexBT uses blockchain for cross-border

payments among firms in emerging economies (odr)l
Circle aims to focus on the Chinese international P2P
payments market (odr)m
insurance and risk management Mexican mobile payments
platform Saldo.mx has
launched a microinsurance service (odr)n
China’s insurance company Ping an joined a global
consortium of financial institutions to explore
blockchain use (odr)o
Banking india’s central bank, the reserve Bank, was reported to
be
considering the use of blockchain to reduce cheque
counterfeiting. digitised cheques are expected to
reduce paper use and the risk of theft and fraudp (Srl).
and have a lower tendency for collateral financing.40
Blockchain arguably can stop scandals
such as those in Qingdao.
Recent high-profile fraud has increased blockchain’s
attractiveness. The British multina-
tional banking and financial services company, Standard
Chartered, lost about US$200 mil-
lion from Qingdao fraud. Standard Chartered has teamed up
with DBS Group and Singapore’s
Infocomm Development Authority to develop a blockchain-
based platform.41 Other players
such as Bank of America and HSBC are also exploring

blockchain for trade finance and other
applications.42
In November 2015, Bitcoin Foundation Ukraine and KUNA
Bitcoin Agency signed an mem-
orandum of understanding (MoU) with Ukraine’s Kyiv
Regional State Administration to
implement a blockchain project to set up an e-governance
system in the port city of Odessa.
It was announced that the first project would be a government
real estate auction. The goal
is to ensure a fair, transparent auction and eliminate the chance
of document forgery.
Subsequent application areas are expected to be in various
public services such as personal
identification, public records and banking.43
In February 2016, Ukrainian technology innovation group
Distributed Lab implemented
an eAuction platform, which is among the largest and most
important public blockchain
initiatives in the country. Two banks – Oschadbank and
PrivatBank – participated in the
project.44 Blockchain is connected to the banks’ infrastructures.
When someone bids, the
payment goes to the seller’s account. The bank produces a
signed receipt for the transaction,
which is added to the blockchain as a proof that money was
sent.45
Reducing friction and costs of property registration
Blockchain can reduce friction and conflict as well as costs of
property registration. Regarding
the costs, it is possible to do most or all of the process
including the use of a notary service

using smart phones.46
In mid-2015, the US-based startup Factom and the Honduran
government reportedly
reached an agreement to transfer land registry in Honduras into
a blockchain-enforced
digital database. The goal is to create a land title-keeping
system that is reliable and trans-
parent. According to the United States Agency for International
Development (USAID), only
14% of Hondurans legally hold their properties. Among those
properties that are occupied
legally, only 30% are registered.47 It is not uncommon for
government officials to alter titles
of registered properties. In some case, government officials
allocate properties with altered
titles to themselves. The country’s bureaucrats reportedly
altered titles and registered beach-
front properties for themselves.48 They also allegedly accepted
bribes in exchange for prop-
erty titles. Citizens often lack access to records, and records
that are accessible provide
conflicting information. Property owners are often unable to
defend themselves against
infringement of property use or mineral rights.49
However, sufficient progress has not been made in the
Honduran government’s plan to
transfer land registry to blockchain. It was reported in
December 2015 that the project had
‘stalled’ due to political issues.50
The US-based platform for real estate registration Bitland
announced the introduction of
a blockchain-based land registry system in Ghana, where 78%
of land is unregistered.51 There

is a long backlog of land-dispute cases in Ghanaian courts.52
About 90% of land is
1716 N. KSHETRI
undocumented or unregistered in rural Africa. Bitland records
transactions securely with
global positioning system (GPS) coordinates, written
description and satellite photos. The
process is expected to guarantee property rights and reduce
corrupt practices. As of mid-
2016, 24 communities in Ghana had expressed interest in the
project.53 Bitland is planning
to expand to Nigeria in 2017 in collaboration with the
Organization of Petroleum Exporting
Countries (OPEC) Fund for International Development
(OFID).54
Bitcoin company BitFury and the Georgian government signed a
deal to develop a
system for registering land titles using the blockchain.55 As
noted above, the Peruvian
economist Hernando de Soto will assist in the development of
the platform. In order to
buy or sell land in Georgia, currently the buyer and the seller go
to a public registry house.
They are required to pay US$50–200, which depends on the
speed with which they want
the transaction to be notarised. The pilot project will move this
process onto the block-
chain. The costs for the buyer and the seller are expected to be
in the range of US$0.05–0.10
range.56

Promoting efficiency in international business to business
(B2B) trade and
increasing access to trade and supply chain finance
The global trade finance market, which is valued at US$18
trillion, is likely to be transformed
by the blockchain by disintermediation and other efficiency
measures. First, the global trade
finance market relies on paper documentation for most
processes. Paper-based methods
such as letter of credit (LoC) and factoring account for about
US$5 trillion of annual trade
worldwide.57 It costs 1–3% of the trade’s value to buy an LoC.
The LoC involves mailing of
physical documents and verification.
Factors are key intermediary players in the global trade finance
market. They offer money
to exporter. Based on the promised future payments, exporters
borrow from factors.
Exporting firms make an outright sale of accounts receivable to
factors in order to maintain
liquidity. For instance, a Chinese exporter selling to Walmart
can take invoice for those goods
to a factor, which can pay the exporter right away. For a
US$100 invoice, the factor may pay
as little as US$90. The upshot is that buyers such as Walmart
pay more for goods they buy
from GS-based sellers. The global factoring market is estimated
at over US$2 trillion
annually.58
Venture capital (VC)-funded startups such as Skuchain are
creating blockchain-based
products to address inefficiencies in B2B trade and supply chain
finance.59 The products are

expected to eliminate the roles of intermediaries and financiers.
Buyers and sellers agree on
the terms of a deal. Blockchain can track and manage the
transaction from start to finish.
Reducing costs and increasing efficiency in international
payment systems
The transaction costs on remittances, especially small
remittances, are very high. Immigrants
use transfer services such as Western Union, which cost as
much as 7% of the transfer
amount.60 In order to transfer 300 Rand from South Africa to
neighbouring countries, transfer
fees varied from 35 to 68.2 Rand by bank draft to 19.2 to 62.5
Rand by electronic transfer,
25.3 Rand by Moneygram and 6.2 Rand by iKobo’s services.61
Bitspark, the bitcoin remittance in Hong Kong, was reported to
charge a flat HK$15 (about
US$1.90) for remittances of less than HK$1200, and 1% above
that amount. For instance,
when remittances are sent to the Philippines, Bitspark’s local
partner, Rebit, converts bitcoin
into pesos for receivers.62
Bitcoin startup Bitsoko, which as of July 2016 had a presence in
Ghana, Zimbabwe,
Uganda, Sierra Leone and Rwanda, uses bitcoins for money
transfer, remittance services and
payment processing. It charges customers a fraction of the

current rates.63
In mid-2015, Banco Santander launched a trial version of a
blockchain-based app that
can be used to transfer £10–10,000 (US$13.20–1,320) in euros
to 21 countries, and dollars
to the US.64
Mexico’s mexBT uses blockchain for cross-border payments
among GS-based firms. The
company hopes that by lowering rates, payments and transfers
of remittances can be made
easier. mexBT launched the platform Pay.meXBT for
international payment, mainly between
Latin America and Asia. Pay.meXBT uses bitcoin and
blockchain to facilitate cross-border
payments. The platform allows payments in local currencies.
The system is also expected to
speed up payment processes.65
Insurance and risk management
Blockchain may provide risk managers with an effective way to
protect individuals and
companies from uncertain loss or catastrophe. Insurance and
derivatives can be used as a
tool to control or minimise the risk factors associated with
unpredictable or uncontrollable
events. By supporting decentralised insurance models,
blockchain may make derivatives
more transparent. A meaningful risk management process can be
designed using reputa-
tional systems based on peoples’ social and economic capital
and online behaviour.66
Blockchain-based insurance is connected to big data, the IoT
and health trackers to ensure

better pricing and risk assessment.67
The IoT makes it easier for cars, electronic devices or home
appliances to have their own
insurance policies. Using blockchain, they can be registered,
and their insurance policies are
administered by smart contracts. Damages are automatically
detected, which trigger the
repair process, claims and payments.68 Payouts are made
against the insurable event and
the policyholder does not have to a make a claim. The insurer
does not need to administer
claims. The costs of claims processing are thus close to zero.
Even more importantly, there
is less likelihood of fraud.69
To take an example, Mexican mobile payments platform
Saldo.mx has launched a micro-
insurance service, Consuelo, which allows users to buy
blockchain-powered health and life
insurance policies. The target groups are Mexicans living in the
country as well as
diaspora.70
Identity management has been a big issue. In financial
institutions such as the insurance
industry, the ability to prove someone is who he/she says online
is very important in order
to increase the accuracy of risk assessments and reduce fraud.71
In this regard, the Delaware,
USA-based blockchain startup Tradle is developing solutions
for know-your-customer (KYC)
data. A customer can grant access to identity data to companies
such as Tradle for a contract
closure. After verifying the KYC profile, a customer can
forward the identity data to other

companies for different contracts. There is no need to repeat the
identification and
verification process for each transaction, which speeds up the
process and increases
efficiency.72
1718 N. KSHETRI
Opportunities and key triggers for blockchain diffusion
Among the main triggers of blockchain diffusion is a rapid rise
in investment in this tech-
nology. VC-backed investments in blockchain totalled US$3
million in two deals in 2011,
which increased to 74 deals and US$474 million in 2015.73 An
estimate by Virtual Capital
Ventures suggested that VC investments in blockchain-related
startups would exceed US$2.5
billion by 2016.74
Blockchain investment is increasing in the GS. The Chinese
search engine Baidu invested
in the US blockchain company Circle. Circle China announced a
plan to enter the Chinese
peer-to-peer (P2P) payment market with bitcoin with the
partnership of Goldman Sachs and
Barclays.75 Circle specifically aims to focus on the Chinese
international P2P payments
market.76
Chinese firms have launched major initiatives to develop the
blockchain industry and
market. Thirty-one technology and financial firms including the
financial services firm Ping

An Bank and Tencent formed a blockchain consortium, which
focuses on capital markets
technology, securities exchange, trading platforms, life
insurance and banking.77
GS-based firms are also participating in strategic agreements
such as global consortia
built around blockchain, which can facilitate the sharing of
technology and resources. China’s
second-biggest insurance company, Ping An, joined a global
consortium of financial insti-
tutions led by the FinTech firm R3.78 In September 2016, China
Merchants Bank joined R3.79
R3’s consortium includes members from Asia, Europe and North
America, such as Morgan
Stanley, HSBC, UBS, Credit Suisse, Barclays, Societe Generale
and Commerzbank. These mem-
bers are working with R3 to use blockchain for a wide range of
applications. In July 2016,
Barclays Africa also joined R3.
In some GS economies, there is a strong horizontal linkage
providing supports for block-
chain diffusion. For instance, China is the world’s biggest
bitcoin market, with an estimated
800,000 bitcoin users in 2016.80 Some argue that blockchain
may allow China’s banking
system to leapfrog the west.
Industrialised world-based blockchain companies are also
making inroads to the GS. For
instance, the public blockchain-based distributed computing
platform Ethereum, which
features smart contract functionality, has a presence in many GS
economies. The Chinese
online insurance company Zhong An announced a partnership

with Ethereum to use the
platform in smart contracts.81 …
w w w. p o lic ysch oo l .c a
PUBLICATIONSPUBLICATIONS
SPP Briefing PaperSPP Briefing Paper
Volume 12:9 March 2019
http://dx.doi.org/10.11575/sppp.v12i0.61839
UNBLOCKING THE BOTTLENECKS AND MAKING
THE GLOBAL SUPPLY CHAIN TRANSPARENT:
HOW BLOCKCHAIN TECHNOLOGY CAN UPDATE
GLOBAL TRADE
Hanna C. Norberg
SUMMARY
Blockchain technology is still in its infancy, but already it has
begun to revolutionize
global trade. Its lure is irresistible because of the simplicity
with which it can
replace the standard methods of documentation, smooth out
logistics, increase
transparency, speed up transactions, and ameliorate the planning
and tracking
of trade.
Blockchain essentially provides the supply chain with an
unalterable ledger
of verified transactions, and thus enables trust every step of the

way through
the trade process. Every stakeholder involved in that process –
from producer
to warehouse worker to shipper to financial institution to
recipient at the final
destination – can trust that the information contained in that
indelible ledger is
accurate. Fraud will no longer be an issue, middlemen can be
eliminated, shipments
tracked, quality control maintained to highest standards and
consumers can
make decisions based on more than the price. Blockchain
dramatically reduces
the amount of paperwork involved, along with the myriad of
agents typically
involved in the process, all of this resulting in soaring
efficiencies.
Making the most of this new technology, however, requires
solid policy. Most
people have only a vague idea of what blockchain is. There
needs to be a basic
understanding of what blockchain can and can’t do, and how it
works in the
economy and in trade. Once they become familiar with the
technology, policy-
1
makers must move on to thinking about what technological
issues could be mitigated,
solved or improved.
Governments need to explore blockchain’s potential through its

use in public-sector
projects that demonstrate its workings, its potential and its
inevitable limitations. Although
blockchain is not nearly as evolved now as the internet was in
2005, co-operation among
all stakeholders on issues like taxonomy or policy guides on
basic principles is crucial.
Those stakeholders include government, industry, academia and
civil society. All this
must be done while keeping in mind the global nature of
blockchain and that blockchain
regulations need to be made in synch with regulations on other
issues are adjacent to the
technology, such as electronic signatures. However, work can
be done in the global arena
through international initiatives and organizations such as the
ISO.
Canada has an important role to play in developing international
blockchain policy
and furthering use of the technology. Estimates are that Canada
will be among the top
investors in blockchain, with a projected annual growth rate of
nearly 90 per cent in just
the next three years alone. Canadian policy-makers can take on
a significant role in these
early days by providing a hub for stakeholders and resources.
Already, industry has begun experimenting on a wide scale with
Blockchain. Walmart, for
example, has created a blockchain food safety alliance that
tracks, traces and monitors
product safety from farm to grocery aisle.
Blockchain has tremendous potential for relieving the pressure
points and bottlenecks in

trade supply chains. Its low investment costs are another asset
that will help contribute
to its widespread use in the next decade. Trade isn’t the only
place for blockchain; health
care, data protection and voting security are all areas where
blockchain can prove useful.
With proper cooperation, governance and policies in place to
regulate it, blockchain will
soon become an accepted (unnoticed) part of many aspects of
everyday life.
2
INTRODUCTION
When you think about all the steps that must take place, and all
the co-operation required to bring a
kiwi fruit to your local supermarket, it’s hard not to marvel.
The same goes for all the transactions
needed globally, tying together more than 800 suppliers across
more than 30 countries needed to
produce the iPhone.1 We take all this for granted, but the scope
and complexity of the planning,
processes, logistics and transactions needed to get the trading
chain to work from farm to fork are
simply staggering.
Blockchain technology was designed to permit two parties to
conduct an online transaction without
having to rely on a middleman to act as a third-party
intermediary (Gabinson 2016).
International trade is a long chain of transactions, all requiring
trust in order to enable execution.
Often, the players don’t know each other, have no physical

interaction and the process has built-in
lag times between delivery and payment. Currently, middlemen
bridge these gaps, but this means
interacting with numerous agents specialized in enabling
different parts of the trade chain (e.g.,
having 10 parties covering the process of trade financing alone).
While these proxies manage to
build sufficient bridges where needed, they are not the perfect
solution to the problem. Having to
deal with various intermediaries is costly, inefficient and keeps
information about the product in
silos with each middleman.
In addition to its costliness, the lack of oversight in the current
system gives rise to significant
amounts of fraud and theft. The American National Cargo
Security Council estimates that the
global financial impact of cargo loss exceeds $50 billion
annually (Hayes 2004), which highlights
the positive effects of having more transparency and
accountability built into the system.
A thriving community of trading firms is especially important
for open economies like Canada.
In value-added terms, exports accounted for a quarter of
Canadian GDP2 in 2014 (OECD 2017).
This number is lower than the OECD average (31 per cent), and
highlights the scope for improved
growth through increased trade. The prospect of lowering the
costs of trade will not only increase
the volume of trade, but also level the playing field for small
and medium-sized enterprises
(SMEs). By enabling consumers to make more informed
decisions, blockchain can empower the
value-based trade that Canada aims to achieve with its more
progressive trade agenda, such as

the Comprehensive Economic and Trade Agreement (CETA)
recently concluded with the EU.
The agreement contains provisions on labour rights,
environmental protection and sustainable
development. The official communication regarding CETA
states that it “upholds and promotes the
values that Canada shares with the EU.”3
“Trade is in Canada’s DNA and it’s vital to our economic
prosperity.”
The Hon. François-Philippe Champagne, Minister of
International Trade, 2018 4
Much like the advent of containerization or the information and
communications technology (ICT)
revolution, the development of blockchain is a private-sector
initiative offering huge potential for
trade, growth and jobs. Realizing blockchain’s potential,
however, hinges on involvement by all
stakeholders, including policy-makers.
1 According to Comparecamp.com (2014).
2 This corresponds to a gross export share of 34 per cent of
GDP.
3 https://www.international.gc.ca/trade-commerce/trade-
agreements-accords-commerciaux/agr-acc/ceta-aecg/index.
aspx?lang=eng
4 Minister’s Message on the State of Trade Report (2018).
3
WHAT IS BLOCKCHAIN TECHNOLOGY AND HOW DOES
IT STAND

TO IMPACT TRADE?
What is blockchain technology?
Blockchain technology describes a novel digital concept for
storing data. The main idea is to
simultaneously decentralize and secure trust between parties
wishing to perform a transaction. The
conceptual ledger system holds information about transactions
in a register that is transparent and
accessible. Once the information has been entered into a
“block”, it cannot be altered, only added
to. Currently, many transactions involve middlemen who keep
ledgers (e.g., pre-internet banks
holding the actual paper deeds to stocks and using digital
ledgers for bank balances) and/or acting
as proxies for trust and information (such as a realtor in a real
estate transaction).
In technical terms, blockchain – or in its more generic
denomination, distributed ledger technology
– is a distributed consensus mechanism with an underlying
security protocol.
The original information is distributed and held by more than
one party. These holders of
information are called nodes (computers connected to the
network). As soon as new information
is available, it is time-stamped and sent out simultaneously to
all nodes in the system. Each node
then automatically replies to confirm that the new information
has been received; hence the term
“consensus mechanism”. All transactions are handled according
to a security protocol, which
means they are added through cryptography. This ensures that
they are meddle-proof once all

nodes have reported that they have handled the information that
was set up chronologically as one
block in the process. Once the block is closed it is immutable
and cannot be deleted. A new block is
then generated to keep records of the next part of the
transaction in the ledger.
The system also contains actors who add information along the
process. The actors could be
inspectors verifying that the shipment has been inspected and
adheres to regulation. An actor could
also be the importer’s bank setting up a letter of credit, the
carrier issuing a bill of lading (receipt
of cargo for shipment) or even Internet of Things (IoT) sensors
(e.g., measuring temperature
or humidity inside shipping containers transporting perishables,
or GPS co-ordinates tracking
movement). Some actors have the authority to add information,
others have viewing privilege.
Blockchain is set up so that all have access only to the part of
the process that pertains to them.
Although originally developed for transactions of the
cryptocurrency bitcoin, blockchain can be
used wherever people want to keep track of records. This
includes everything from protecting
endangered species to national security, waste management and
tracking fine art and diamonds
(Zago 2018).
HOW CAN BLOCKCHAIN TECHNOLOGY BE
INCORPORATED IN
TRADE TRANSACTIONS?
Trade is driven by economic incentives to reap the benefits of
comparative advantage.

Trust, transparency and accountability are friends and the costs
of distance and uncertainty are
foes (Chaney 2013).
The trade chain is a long and complicated series of transactions,
many of which take place without
physical interaction between the transacting parties. Traded
goods travel long geographical
distances and across language and cultural barriers. Time is
crucial for trade. First, there is an
4
inherent cash flow issue in these transactions. For example, a
line of credit needs to cover the
long time between harvest and consumption of fruits and
vegetables. The longer it takes, the
more expensive the credit. Second, once the agricultural
products have been harvested, they are
perishable and any delays risk ruining the goods and the
revenue. This is increasingly true also
for producers of fashion items, where a delivery delay can
render the clothing passé, and thus not
viable to sell.
Blockchain will decrease the costs of trade, which will empower
globalization, trade, and optimize
the global value chains that the ICT revolution has made
possible. Moreover, through a number of
channels, such as the way documentation can be handled and the
trading process can be monitored,
the technology also enables a new layer of trust, transparency
and accountability (McDaniel and

Norberg 2019).
Blockchain technology has the potential to revolutionize,
reinvent or disrupt international trade.
This is occurring just as we have begun to understand the
impact that internet-led digitalization
has had on trade and the economy. By lowering communications
costs, ICT has brought about
digitalization, global value chains, electronic platforms, 3D
printing and much more. It has created
many new opportunities for firms that previously were unable to
enter the global market. The
internet lowered the threshold for entering that market,
shortened geographical distances and
decreased the costs of participating in trade. As a result, smaller
actors, such as consumers and
SMEs, can now trade in markets that previously were
inaccessible.
To enable this trade, new institutions emerged, improving trust
through the use of ICT payment
systems (such as PayPal, Alipay and Klarna). Blockchain
technology can substitute for many
of these systems, automating the roles of many parts of the
administrative chain and making
transactions smoother, more efficient, secure and transparent.
Combining blockchain with other
types of new technology such as the IoT, artificial intelligence
(AI) and smart contracts, opens up
enormous possibilities for allowing other applications to work
in the same direction.
“The Holy Trinity”: Blockchain, AI, IoT
and Their Super Power Application: Smart Contracts
Artificial intelligence (AI) denotes machine-simulated

intelligence. Based on the assumption
that human intelligence can be defined in such exact terms that
a machine can mimic it, AI
is applied to learning, reasoning and perceiving information.
Using information based on
mathematics, computer science, linguistics, psychology and
other sciences, AI can perform
many tasks, ranging from playing chess and driving cars to
running search engines and targeting
advertising. AI describes machines, systems or applications that
are capable of performing tasks
which previously only humans could perform (Aaronson 2018).
Recently, there have been quite a
few cases where AI has out-performed human intelligence, such
as doing legal work (WEF 2018)
and detecting cancer (Tucker 2018). Although founded as an
academic discipline in 1956, AI has
become central to IT only since recent advances in the
availability of computing power and the
ability to process large amounts of data.
5
Internet of Things (IoT) is the connection of standard items,
like computers or smartphones
to the internet. This also includes other everyday traditionally
non-smart objects such as home
appliances. A modified Coke machine at Carnegie Mellon
University* in 1982, which enabled
reports on inventory and whether drinks were cold, was the first
internet-connected device. As
costs, size and power requirements for computing power have
fallen, it became viable to embed
network connections into other physical devices, e.g., vehicles,

refrigerators and watches. These
objects can then connect and exchange data, making it possible
to control and monitor them
remotely.
According to Wikipedia, a smart contract is “a computer
protocol intended to digitally facilitate,
verify, or enforce the negotiation or performance of a contract.
Smart contracts allow the
performance of credible transactions without third parties.
These transactions are trackable and
irreversible.”
Smart contracts tie together the underlying technologies in
blockchain, AI and IoT. In practice,
a smart contract is a protocol that does not require human
interaction to track and verify the
process along the way. The contract itself is set up with an
if/then algorithm for the criteria that
need to be met in order to execute the next phase. Thus, the
current phase of the production is
evidence that the criteria for all prior phases have been upheld.
The contract can be set up so
that the whole process is transparent and trackable, making it a
prerequisite for subcontractors to
fulfil not only the parts of the delivery per se, but ensuring it
has the necessary paperwork and
inspections that need to be met and displayed before executing
the contract.
For trade-related purposes, a smart contract can verify, for
example, that a product meets
prerequisites for regulations and standards, such as being
environmentally friendly, sustainable,
and adhering to labour standards, rules of origin, etc.

* https://www.cs.cmu.edu/~coke/history_long.txt
Trade’s administrative costs are significant. According to
shipping giant Maersk (The Economist
2018), a shipment of avocados from Mombasa to Rotterdam in
2014 entailed more than 200
communications involving 30 parties. Until the ICT revolution,
all documentation of trade goods in
transit was done on paper. The advent of ICT and the
digitalization of documents greatly facilitated
the process. Papers no longer went missing and documents
could be duplicated. The lowering of
communication costs unleashed and empowered the concept of
global value chains. Parts of the
trade chain have taken it further, working to introduce digital
supply chains (DSCs)5 (Patnayakuni
2002) to increase co-operation and productivity to gain
competitiveness.
Despite these advances, other parts of the trade chain are
stubbornly stuck in their old ways and
have yet to reap the technology’s benefits. The shipping
industry is the most notorious example
of this. Maersk and IBM – who previously co-operated around a
number of blockchain projects
on shipping and logistics – have teamed up to initiate
TradeLens,6 an open platform for wider
5 Digital supply chains are, as suggested by the term, extension
of global supply chains, with greater levels of co-operation
on a digital level. Here, MNEs take on the role as hub
organizations for leading the digital integration and work along
with
their main suppliers to optimize operations all along the chain,
rather than just sourcing from suppliers and optimizing
within their own domain.

6 www.tradelens.com
6
blockchain co-operation along the global supply chains.
TradeLens aims to serves as a catalyst
to digitizing documentation as well as connecting actors (such
as port and terminal operators,
customs authorities, freight forwarders, transportation and
logistics companies, etc.) to form
“a more efficient, predictable and secure exchange of
information in order to foster greater
collaboration and trust across the global supply chain.”
Another issue is that documents along the trade chain are still
highly compartmentalized, with each
actor focusing on a specific part of the process. Hence, the
importer needs to communicate directly
with each one and make sure each has access to the necessary
documentation.7 With blockchain,
the documentation can follow the product, ensuring that one
part of the protocol is followed before
it is sent on to the next part.
Time is money – especially for perishables. As an example, the
Food and Agriculture Organization
of the United Nations (FAO) estimates that between 30 and 40
per cent of food is lost or perishes
before it reaches the market. In an attempt to make the border
crossing procedure more efficient,
the World Trade Organization (WTO) negotiated the trade
facilitation agreement (TFA) which
entered into force in 2017. The agreement contains provisions

to expedite the movement, release
and clearance of goods in trade by “cutting red tape at the
borders”. The full implementation of
the agreement is estimated to be significant, reducing global
trade costs by 14 per cent (WTO
215b). According to the estimates produced by the Organisation
for Economic Co-operation and
Development (OECD), the lower trade costs would lead to an
increase of global exports by around
US$1 trillion yearly (OECD 2015).
While the implementation of the TFA is useful for increasing
the productivity of border crossing
procedures, blockchain can take goods along the whole chain,
from producer to consumer. The
TFA initiative includes measures such as digitizing paperwork
and streamlining procedures. These
are commendable first initiatives, of which blockchain can be
seen as an extension, albeit with more
potential, where information can follow the good from initial
production to the final consumer.
Trade financing is a cumbersome and complex process. There is
a fundamental time lapse built
into the process of international trade, which makes it less
suitable for paying cash in advance.
While exporters prefer to get paid as they are shipping off the
goods, importers want to receive
the merchandise before paying, in order to inspect the goods
first. Transporting takes time and the
quality of the goods may be compromised in the process. Trade
financing, which is often described
as “the lubricant of trade” has developed as a solution to these
issues. Here, a finance or insurance
agent (often both) provides credit, payment guarantees or
insurance to facilitate the process and

acts as a bridge for the time and risks involved in the
transaction. According to the WTO (2016),
up to 80 per cent of world trade is currently financed by credit
or credit insurance; yet the WTO
defines the lack of trade finance as a “significant non-tariff
barrier to trade”. This barrier hits
smaller firms harder than larger ones, since on a global scale,
over half of trade finance requests by
SMEs are rejected (compared to a rejection rate of seven per
cent for larger multinational firms).
Using blockchain technology, the importer’s bank can set up a
smart contract and create a letter
of credit to guarantee exporters a payment before they produce
or harvest. The producer will then
know that the money has been deposited. The local bank can
issue a credit to the producer with
the guarantee from the exporter as collateral. Not only will
lowering the risks and costs this way
7 As examples of the red tape targeted in the TFA, the WTO
points to the documentation requirements for goods which often
lack transparency, leading to required paperwork being
duplicated in many places along the way. Moreover, WTO
identifies
the lack of co-operation between traders and official agencies,
and low usage of information technology to empower
automatic data submission as issues that the implementation of
the TFA can target.
7
benefit those firms currently using the services, but the
increased transparency lowers the risks and

costs for the issuing agents, making it more lucrative for new
firms wishing to enter the financing
market and increasing available liquidity for trading firms
(Global Trade Review, 2016).
The other part of the trade financing process is trade insurance,
which is used to manage the risk
of any part of the goods getting ruined along the way.
Traditionally, middlemen specializing in
mitigating risk along the chain have handled this insurance.
Some actors insure against risks during
transportation from farm to warehouse, while others do so from
warehouse to container. Still
another actor focuses on risks while the goods are on board the
ship, and so on. Thus, covering the
risks requires quite a few actors and proxies. To minimize the
risk of theft and fraud, containers
were sealed upon exit and not opened until arrival; this is
known as being transported in “black
boxes”. The shipping process can incorporate more transparency
by using blockchain technology
for inspection documentation, having IoT monitors send
automated updates on the temperature and
humidity within the container, and using GPS co-ordinates,
cameras and alerts if the containers
have been opened.
BLOCKCHAIN AND TRADE POLICY
Blockchain improves the agreements that are already in place
While governments negotiate, sign and implement preferential
trade agreements, the economic
gains are not automatically delivered once that work is done.
Governments don’t trade; firms do.
The benefits of the trade agreements are not realized until firms

make good use of the opportunities
available from the preferential deals. Until recently,
surprisingly little was known about the extent
to which firms traded under the preferential, more liberalized
rules, such as lower tariffs, resulting
from Free Trade Agreement (FTA) negotiations. This is
measured by preferential utilization rates
(PURs) which are defined as the share of trade that takes place
under preferences as a share of the
total value of trade that is preference-eligible (Swedish Board
of Trade 2018).
Customs data on tariff usage have only recently been made
available on a wider scale. Early
research shows that the use of EU preferential rates is relatively
high, on average 75 per cent.
Research also shows that PURs are positively correlated to the
value of the shipment (Keck and
Lendle 2012) and trading firm size – the bigger the firm or
shipment, the higher the PURs (Nilsson
2016). However, trading firms are not automatically eligible for
an FTA’s preferential rates.
Substantial administrative requirements are needed to qualify
for those rates. To restrict trade
deflection, firms need to prove that the goods adhere to the
rules-of-origin (RoO) regulations.8
Providing proof for the RoO is often difficult and time-
consuming. Evidence of the national origin
of the product being shipped must be provided and firms also
need to provide evidence of the
production of inputs. The costs incurred are significant.
Moreover, the negotiated rules differ across
FTAs (e.g., RoO for NAFTA are different from those in CETA
(Georges 2017)). In NAFTA’s case,
Anson et al. (2005) estimated the average costs for proving

adherence to the RoO to an ad valorem
equivalent of around six per cent. This cost is harder for smaller
firms to bear. Putting RoO-related
information on the blockchain would significantly lower the
costs and administrative burden, as
well as generally help increase the accessibility of information.
The increased traceability that the
8 Rules of origin are the criteria needed to determine a
product’s national source.
https://www.wto.org/english/tratop_e/roi_e/roi_info_e.htm
8
technology creates can make the process faster, cheaper and
easier, thus levelling the playing field
for smaller firms entering the international market.
SMEs are the backbone of the economy and essential to growth
and jobs. According to the
government of Canada’s key small business statistics, Canadian
SMEs employed 10 million people,
or 90 per cent of private-sector workers, in 2015. Meanwhile,
SMEs account for just 25 per cent
of exports. This matters, since much empirical research
(Bradford and Jensen 1999) shows that
the increased competition that exporting firms face causes them
to out-perform non-exporters in
employment, productivity and capital intensity, thus providing
better, more secure jobs with higher
wages. Levelling the playing field and increasing the
participation of SMEs in the international
arena are key to unlocking growth.

As tariffs have decreased, non-tariff barriers (NTBs) have
become an increasingly important
impediment to trade. As a result, trade negotiators have added
these issues to the agenda.
Technical barriers to trade, often referred to as regulations,
were included in the CETA negotiated
between Canada and the EU (CETA Text Article 21), where
discussions focused on ways to
increase regulatory co-operation, coherence and so forth.
Gathering information on the regulatory
requirements and voluntary standards needed to sell a product in
an international market can be
costly, especially for SMEs. Blockchain can make it cheaper
and less cumbersome for firms to both
adhere to, and document that, the traded good/service is up to
standards and regulations. Currently,
there are some promising initiatives set out to make the
information more readily accessible, such
as the digitalization program Xalgo4Trade here in Canada,
which is an open-source initiative for
the “internet of rules” (Atkinson 2018).
A QR code sticker can also make more information about a
product accessible, thus making it
easier for producers to profile themselves to consumers and
stand out from the competition. The
French supermarket Carrefour has initiated a project in which
all information on its house brand of
chicken will be available via a QR code sticker on the
container. In an effort to make the process
totally transparent, the blockchain is set up so that every actor
in the supply chain (breeder,
processor, butcher, etc.) enters their own information
independently on the blockchain. Since the
data are decentralized, Carrefour cannot intervene in the flow of
information. In just a few seconds

with the help of a smartphone, a consumer can see whether a
particular animal has received
antibiotics and what it has been fed. Initiatives such as this will
help consumers make more
informed choices and empower producers who wish to compete
by means other than price.
Supply chain scandals mean consumers are increasingly
demanding to know more about the
provenance of the things they buy (Francisco and Swanson
2018). Some of these recent scandals
included the horsemeat found in Findus’ lasagne, or the fact that
manufacturing for Zara, Walmart
and Sears took place in Bangladesh factories that workers later
burned down. In the longer run, this
will empower smaller or more diverse firms to enter the market
and give consumers more variety to
choose from with regard to ethical considerations,
environmental impacts, etc.
Blockchain also works very well to support the underlying
characteristics of
modern trade agreements
Blockchain technology is particularly suited for the criteria of
modern, progressive trade policy.
Traditionally, trade negotiations focused on lowering tariff
barriers. Newer types of trade
agreements not only focus on non-tariff barriers to trade such as
regulatory …
Analysing the Impact of Blockchain Technology
in India’s Digital Economy

– Jeevan John Varghese*
Student, G L BAJAJ Institute of Management and Research
[email protected] https://orcid.org/0000-0002-5166-8890
– Devashish Sharma
Student, G L BAJAJ Institute of Management and Research
– Nishant Kumar Singh
Assistant Professor, G L BAJAJ Institute of Management and
Research
EDITorIAl BoArD ExcErpT At the initial Time of submission
paper had a 4%
plagiarism which is an accepted level for publication. He
editorial viewpoint is of an
observation that article had a successive close watch by the
blind reviewer’s which at later
stages had rectified and amended by an authors in various
phases as and when requisite to do
consequently. The reviewers had in a beginning stages mention
with minor revision with a
following stamen which at a small duration streamlined by
authors (Jeevan John, Devashish
Sharma, Nishant Kr. Singh). The comments related to this
manuscript are tremendously
perceptible related to exponential organization both subject
wise and research wise by
the reviewers during evaluation and further at blind review
process too. The authors be
commendable of appreciation for writing this paper onimpact
of blockchain technology in

india’s digital economy. The blockchain technology as
highlighted by the authors in section
5. The objective of the paper is clear and discussion are well
placed and open up avenues for
future studies. All the comments had been shared as a mixtures
of dates by the authors in
due course of time and same had been incorporated by the
author in computation. By and
large all the editorial and reviewer’s comments had been
incorporated in a paper at the end
and further the manuscript had been earmarked and decided
under “View point ”category
as its highlights and emphasize the work in relation to use
blockchain technologyparticularly
on India’s digital economy.
paper Nomenclature: View Point (VP)
paper code: V11N1JM2019VP1
originality Test ratio: 4%
Submission online: 8-March-2019
Manuscript Acknowledged: 12-March-2019
originality check: 16-March-2019
peer reviewers comment: 1-April-2019
Blind reviewers remarks: 20-April-2019
Author revert: 21-April-2019
camera-ready-copy: 20-June-2019

Editorial Board citation: 25-June-2019
published online First: 5-July-2019
ArTIclE HISTory
ENTERPRISE INFORMATION SYSTEM
ABSTrAcT
purpose: In the backdrop of Digital India and the National E –
Governance mission there has been an exceedingly high
reliance on the digital infrastructure which acts as an enabler in
the process of decentralizing and scaling the Indian digital
economy. This paradigm shift entails a significant account of
trust and security of data which is to be provided for the end
user.
It is in this regard, a study is made so as to understand and
analyses the assimilation of Block chain technology into
India’s
digital infrastructure which is to provide robustness and
scalability in the technological contours of growing Indian
economy.
Design/Methodology/Approach: The research incorporates the
application of exploratory method withstanding the
requirements of data, review and analysis.
Findings: Theanalysis comprehensively concurs that Blockchain
technology acts as an enabler in bridging the gap between the
principles and practices of India’s digital economy. It further
approves the hypothesis that a robust technological
infrastructure
acts as an impetus towards the greater goal of financial
inclusion.

originality / Value: The discourse of understanding the
significance of digitally enabled financial services is of
growing interest.
However this paper endeavours to pioneer a link between the
social aspects of financial inclusion to that of technological
one.
KEyworDS Blockchain | Digital India | Technology | Financial
Inclusion | cyber Economic Espionage
www.gjeis.com
*corresponding Author
https://doi.org/10.18311/gjeis/2019
Volume-11 | Issue-1 | Jan-Mar, 2019 | Online ISSN : 0975-1432
| Print ISSN : 0975-153X
Frequency : Quarterly, Published Since : 2009
©2019-20 GJEIS Published by Scholastic Seed Inc. and Karam
Society, New Delhi, India. This is an open
access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/).
GJEIS
ISSN (Online) : 0975-1432
ISSN (Print) : 0975-153X
DOI: 10.18311/gjeis
Volume 11 | Issue 1 | Jan-Mar 2019
Dr. Subodh Kesharwani
Editor-in-Chief
Published by

www.gjeis.com
ENTERPRISE INFORMATION SYSTEM
Since 2009 in Academic & Research
DOI: 10.18311/gjeis/2019 Vol 11 | Issue 1 | Jan-Mar 2019 95
www.gjeis.com
View Point
Jeevan John Varghese, Devashish Sharma and Nishant Kumar
Singh
Introduction
A popular instance for the occurrence of an
event is often described with the help of classical
unities which are described as the unities of time,
place and action. This philosophical narrative can be
viewed as a cornerstone towards the understanding
of blockchain(Bashir, 2018) in Indian digital
economy. The socio-economic paradigm of our
country especially after the wake of liberalization
has been such that it has encountered various

challenges and moreover numerous possibilities.
One of the greatest possibilities which India has
embarked in the due course has been its transient
and high end infrastructural capabilities. Especially
in the wake of a robust infrastructure which would
help in the transition of our “medieval” economic
infrastructure to attain parity with that of developed
countries. It is at this pointof the narrative a modern
and state of the art infrastructure which essentially
provides high end data security was advanced,
known as the blockchain. The principledemand
for the advancement of this infrastructure was
due to the increasing instance of cyber fraud that
occurred between the 1990’s and early 2000(Swan,
2015). However in India with a rapidly increasing
population, the process of enumeration and
inclusion of people into the organized financial
system has been a cumbersome task. And the

accomplishment of such a hefty task cannot be
visualized in vacuum, as it essentially involves a
large amount of man, money and infrastructural
capabilities. It is in this backdrop we need to realize
as to how blockchain as an infrastructure could drive
as a juggernaut wave towards a robust and sound
digital economy providing parity and concurrency
to all the beneficiaries involved in the system.
literature review
The most fundamental and critical understanding
of the blockchain as a “distributed ledger”
(Bashir, 2018) has facilitated in understanding
its technological viability. However this nascent
technological tool has been a matter of much
contemplation in the technological circles (Zibin,
Xie, Dai, Chen, & Wang, 2017) such as Institute
of Electrical and Electronics Engineers especially
during its 6th International Congress on Big Data.
However the financial viability of using this tool

as a model of secure digital transaction has been
sought much later (Swan, 2015). Especially in
the backdrop of ambitious developments such as
digital India there exists an expected trillion dollar
economy in hand (Company, 2018)which can seek
benefit from this technological leap. Thus it becomes
an imperative to analyze and understand as to how
the dimensions of secure digital transaction can be
enhanced and developed to provide a stable and
scalable infrastructure(Blockchain Technology
Explained: The Ultimate Beginner’s Guide about
Blockchain Wallet, 2017) meeting the demands of a
developing economy.
objective
Based on the understanding developed from the
respective documented records, it has been noted
that there exists a lacuna in terms of contextual
analysis. This void is fundamentally created due to

an unsynchronized evaluation in terms of explaining
the blockchain technology and Indian digital
experience. Therefore it seems to be an imperative at
this juncture to critically evaluate the following:
A prelude towards understanding blockchain 1.
as a key technological instrument in financial
technology.
Recognising the impact of blockchain in India’s 2.
advancing digital economy.
research Methodology
The present studyendeavors the adoption of
anexploratory approach as it is principally based
on secondary sources of datacollected from various
reports of government and private organization. This
endeavor has been sought to enhance and develop
understanding so as to make a comprehensive
evaluation of the objective under consideration.
Global Journal of Enterprise Information System

Vol 11 | Issue 1 | Jan-Mar 2019 Online ISSN : 0975-1432 |
Print ISSN : 0975-153X96
Analysing the Impact of Blockchain Technology in India’s
Digital Economy
Evaluating Blockchain
Technology
Contrary to the traditional misconception
blockchain is often misunderstood with that of
Bitcoin. However it is noteworthy to understand
that Bitcoin is essentially a product that uses the
blockchain technology. One of the most cited phrase
for describing the blockchain technology has been
“distributed ledger”(Zibin, Xie, Dai, Chen, & Wang,
2017). However the technological foundation of
blockchain goes far beyond that. Originally the
development of blockchain occurred in 1991 by a
group of scientists who endeavored to timestamp
documents. The timestamp for document was
essentially done so that the documents cannot be

tempered or manipulated in any way. However the
gravity of this technology was only realized when
Satoshi Nakamoto(Swan, 2015) in 2009 developed
a Cryptographic currency known as Bitcoin. The
technical notion of the working of a blockchain can
be understood with the help of thought experiment.
Consider a person holding two Rubik’s Cube in
each of his hand, such that the Rubik’s Cubes are
joined together by a thread. Here each Rubik’s Cube
describes a block and that thread describes the hash
of the particular block. It would be noteworthy to
understand that each block contains a certain data
that is pertinent to a particular block and this data
is not subjected to manipulation or tampering.
And any tampering of data will have an effect on
the subsequent block attached to the tampered
block(Bashir, 2018). The analogy for the hash of a
particular block can be understood with that of the

fingerprint as it provides a unique identity for each
block in a blockchain. Initially when a block is null
a particular hash is calculated or assigned to a block.
However as data is encrypted into a particular block
the value of the hash changes. This triggering of
hash helps in detecting the change or tampering
of data within a block. As it has been mentioned
earlier, each block is attached to a previous block
with the help of the hash and any change within the
data of a particular block not only triggers a change
in the hash of a particular block but also create a
change in the hash of the subsequent blocks. This
degree of robustness of a blockchain provides an
ambient proof of work making it an efficient system
for secure data storage. The security of a blockchain
is derived from its innovative usage (Swan, 2015)of
proof of work and hashing. Moreover the centralized
mechanism of data distribution provides the ease of

scalability and accessibility of data among all the
users using the blockchain. Moreover it provides a
peer-to-peer which allows any of the users to join
a blockchain. Having a preliminary understanding
of the blockchain technology it would be an
imperative to understand and examine the backdrop
of Indian digital economy which would enable a
comprehensive evaluation of the existing digital
infrastructure.
India’s Journey Towards a
Digital Economy
Before the introduction of ambitious projects
like digital India and National E – Governance
mission the Government of India with financial
assistance of United Nation in 1975 developed the
National Informatics Center(Technology, 2017).
The primary aim of which was the computerization
of government offices. This initiative was followed
by the development of major insurance repository

of India such as Central Depository Services and
National Securities Depository Limited in 1999
and 1996 respectively. However this development
was abysmally low to cater the demand of a fast
and growing economy. Owing to the development
of digital infrastructure, the Government of India
sought it to be an imperative to introduce further
development in due course of time. One of the
eminent developments in terms of revival of our
digital economy was laid in the (India, 2008). Here
the ambitious project of National E – Governance
Mission was introduced which primarily focused
on enabling digital services for a citizen centered
participation in the governance. This model of
(Company, 2018)National E – Governance Mission
was primarily adopted from the implementation
strategies developed by Singapore. As a forerunner

www.gjeis.com
to these initiatives the Government of India under
the aegis of Ministry of Electronics and Information
Technology and Ministry of Finance introduced
several other schemes such as Digital India.
There exists a wide ranging impact on the social,
political and economic front with respect to the
execution and development of India’s robust digital
infrastructure. However the requirement of an
advanced infrastructure such as Blockchain is only
understood with help of some vital statistics which
has been dealt in the following section.
The requirement of a robust
Digital Infrastructure
One might pose a pertinent question as to why
a sophisticated and complex technology such
as Blockchain is required in the Indian context.

However to ascertain such dilemma we need a
factual evaluation of data. For the sake of reducing
parametric abnormality we have ascertained certain
vital statistics which would help in the evaluation and
understanding the need for Blockchain technology
in India.
country Indonesia India Germany Japan China France
percentage 61% 56% 38% 37% 37% 32%
Index Scores 36 29 55 61 42 53
Source: McKinsey Global Institute
Table 1: Growth of Digital Economy for the
financial year 2016-2017
According to the report by the McKinsey Global
Institute for the financial year 2016-2017, India has
seen a rapid growth in terms of digital economy
with a staggering 56% and an index score of 36.
However this index is followed by another data on
the dynamic inclusion (Company, 2018)of Pradhan

Mantri Jan Dhan Yojana which was principally
aimed at financial inclusion has witnessed a 2.4 times
increase i.e. from 105 million in 2014 to 308 million
in 2017. The growth of financial inclusion has a
complimentary nature with that of technological
accessibility as it enhances the efficiency of usage
of resources.
However this aspect of our digital economy
circumvented a new horizon in the post
demonetization years with the meticulous
development of “Digital Wallets” thus enhancing
the operability of cashless transactions. This can be
understood from the following analysis.
year country
Number of cash-
less transactions
per person
2014 India 1.9
2017 India 8.0

Source: RBI, Euro monitor International
Table 2:Number of cashless transactions per
person (excl. cheques)
This table stipulates that there has been a 321%
increase in the number of cashless transaction from
the financial year of 2014 to 2017. The fundamental
prerogative behind this analysis is based on the
fact that with rise in the demand of digitally
enabled financial services, there exists an equitable
requirement to scale up the digital infrastructure.
This need for scalability is not restricted to the
financial services, but perhaps needs to be viewed as
a holistic concept which encompasses all the services
requiring a robust technological infrastructure.
View Point
Singh
Global Journal of Enterprise Information System

Vol 11 | Issue 1 | Jan-Mar 2019 Online ISSN : 0975-1432 |
Print ISSN : 0975-153X98
countering cyber Economic
Espionage with Blockchain
Apart from making a utilitarian perspective the
aspect of blockchain as tool to counter act cyber
economic espionage is fundamental to understand
as it involves financial security which in turn
translates to national security. In the modern era
the mechanism of warfare is not merely restricted
to the inhospitable warfront but perhaps involves the
requirement of providing a transient technological
infrastructure which enables in providing reliability,
scalability and accessibility.
According to a report by NITI Ayog in 2017
more than 50 percent of the organizations are
reportedly affected by major cyber disruption. A
detailed account entails that of the total attacks 57%
attacks are caused due to phishing and a whopping

20% of the same by denial of service. Earlier the
acts of cyber economic espionage were considered
essentially as “first world problem”, however with the
increasing reliance on computational infrastructure,
the need for an efficient and robust technology is at
anall-time hike. Perhaps it is this lacuna which needs
to be addressed with the help of efficient technology
such as blockchain.
conclusion
On a concluding note it can be observed that
even though the government is skeptical about the
implementation of accepting Bitcoin as a legal
tender. The acceptance of blockchain technology in
the future essentially looms around the practical and
the legal challenges it faces especially in terms of
statutory incorporation and technological upheaval
which has an unsettling impact in the due course.
However the observational understanding dictates
that with more countries adopting and implementing

blockchain infrastructure, it would the imperative of
“digital India” to accept and adopt innovation and
technology into its contours of economy.
references
Bashir, I. (2018). • Mastering Blockchain: Distributed
Ledger Technology, Decentralization, and Smart Contracts
Explained. Birmingham, United Kingdom : Packt
Publishing Limited .
Blockchain Technology Explained: The Ultimate •
Beginner’s Guide about Blockchain Wallet, M. B.
(2017). Alan T. Norman. California : CreateSpace
Independent Publishing Platform.
Company, M. a. (2018). • India’s Trillion Dollar Digital.
New Delhi: Ministry of Electronics and Information
Technology, Government of India.
India, G. o. (2008). • ELEVENTH REPORT. New
Delhi: Government of India .
Swan, M. (2015). • Blockchain: Blueprint for a New
Economy. (T. McGovern, Ed.) Sebastopol, United
States of America (usa) : O’Reilly Media Inc USA.
Technology, M. o. (2017). • Annual Report 2016-2017.
New Delhi: Government of India.
Z. Z., Xie, S., Dai, H., Chen, X., & Wang, H. (2017). •
An Overview of Blockchain Technology:Architecture,
Consensus, and Future Trends. In J. Zhang (Ed.),
IEEE 6th International Congress on Big Data (pp. 557-

564). Hawaii: Conference Publishing Services, IEEE
Computer Society.
Analysing the Impact of Blockchain Technology in India’s
Digital Economy
Blind Reviewers Comment
The topic of the research is very relevant and focus towards
societal and financial security issue.•
In the review it is find that the objectives of the research are
clearly achieved through analysis.•
Also research design, data collection and sample size were well
designed and meeting the ample reliability and •
validity in all aspect.
www.gjeis.com
View Point
Singh
GJEIS prevent plagiarism in publication
The Editorial Board had used the turnitin plagiarism
[http://www.turnitin.com] tool to check the originality and
further affixed the similarity index which is 4% in this case
(See Annexure-I). Thus the reviewers and editors are of
view to find it suitable to publish in this Volume-11, Issue-1,
Jan-Mar, 2019

citation
Singh
“Analysing the Impact of Blockchain Technology in India’s
Digital Economy”
Volume-11, Issue-1, Jan-Mar, 2019. (www.gjeis.com)
https://doi.org/10.18311/gjeis/2019
Volume-11, Issue-1, Jan-Mar, 2019
online ISSN : 0975-1432, print ISSN : 0975-153X
Frequency : Quarterly, Published Since : 2009
Google citations: Since 2009
H-Index = 96
i10-Index: 964
Source:
https://scholar.google.co.in/citations?user=S47TtNkAAAAJ&hl
=en
conflict of Interest: Author of a Paper had no conflict neither
financially nor academically.
Annexure 1
Copyright of Global Journal of Enterprise Information System is
the property of Kedar Amar
Research & Academic Management Society (KARAMS) and its
content may not be copied or
emailed to multiple sites or posted to a listserv without the
copyright holder's express written

permission. However, users may print, download, or email
articles for individual use.
How do you feel blockchain will change the global economy or
will it? Explain your answer.
Please make your initial post and two response posts
substantive. A substantive post will do at least TWO of the
following:
· Ask an interesting, thoughtful question pertaining to the topic
· Answer a question (in detail) posted by another student or the
instructor
· Provide extensive additional information on the topic
· Explain, define, or analyze the topic in detail
· Share an applicable personal experience
· Provide an outside source (for example, an article from the UC
Library) that applies to the topic, along with additional
information about the topic or the source (please cite properly
in APA)
· Make an argument concerning the topic.
At least one scholarly source should be used in the initial
discussion thread. Be sure to use information from your
readings and other sources from the UC Library. Use proper
citations and references in your post.
Week 2 Research Paper: Mastering Blockchain
Each student will write a short research paper for a peer-
reviewed research paper that pertains to the week’s assigned
reading. This will be a detailed summary of the research paper
and what you gained from the research. Each week, you will
find an article/peer-reviewed research paper that pertains to the
week's assignment. If you have a difficult time, Google Scholar
is a wonderful location to find these types of articles:
https://scholar.google.com/
Once you find the article, you will simply read it and then write

a review of it. Think of it as an article review where you
submit a short overview of the article.
Your paper should meet the following requirements:
• Be approximately 2-3 pages in length, 800 Words minimum,
not including the required cover page and reference page.
• Follow APA6 guidelines. Your paper should include an
introduction, a body with fully developed content, and a
conclusion.
• Support your answers with the readings from the course and at
least two scholarly journal articles to support your positions,
claims, and observations, in addition to your textbook. The UC
Library is a great place to find resources.
• Be clearly and well-written, concise, and logical, using
excellent grammar and style techniques. You are being graded
in part on the quality of your writing.
*All outside sources must be referenced and cited in your paper.
All papers will be reviewed with a plagiarism software. Any
references not properly referenced and cited will result in a 0 on
your paper. Multiple violations will result in a failure for the
course!
TextBooks
· Chapter 1 & 11: Bashir, I. (2017). Mastering Blockchain.
Birmingham, UK: Packt Publishing. (see also attached PDFs)
· Norberg, H. (2019). Unblocking the Bottlenecks and Making
the Global Supply Chain Transparent: How Blockchain
Technology Can Update Global Trade. The School of Public
Policy Publications, (9), 1.
https://doi.org/10.11575/sppp.v12i0.61839
· Kshetri, N. (2017). Will blockchain emerge as a tool to break
the poverty chain in the Global South? Third World Quarterly,
38(8), 1710–1732.
https://doi.org/10.1080/01436597.2017.1298438
· Varghese, J. J., Sharma, D., & Singh, N. K. (2019). Analysing
the Impact of Blockchain Technology in India’s Digital
Economy. Global Journal of Enterprise Information System,

10(3), 94–99. https://doi.org/10.18311/gjeis/2019

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