Assignment 1: Pitch Blockchain to your CEO

[thenode369]

Dear CEO,

I am contacting you about the current performance of our systems and how the use of cutting edge technology can improve the efficiency and productivity of the business.

As the Director of Innovation I would like to present a proposal and some use cases of how the business can take advantage of new blockchain technologies to streamline our services. I believe that blockchain is the future of systems technology and is already impacting multiple markets from supply chain to financial modelling and beyond…

Do we as a business want to remain in a legacy world of inoperability and inefficiency or continue to move forward, innovative and lead our sector into a new world of simple interoperability of systems?

Some key advantages of blockchain that I would like to discuss are as follows:

• Data is stored securely, tamper proof, all transactions recorded on an immutable blockchain protected by powerful cryptography.

• Completely programmable to perform simple of extremely complex tasks including AI & Robotics

• Interoperability with legacy systems such as SAP, Oracle, IBM systems

• Benefits to our growing Supply Chain, including the tracking of asset handling, usage, manual interactions, location & environmental conditions

• Customer Retention and Acquisition, through service efficiency improvements and rewards

• Cost saving across the business with increased efficiency and transparency with time, resources, defects, loss, theft and damage in all areas

I look forward to presenting and discussing these exciting innovative technologies with you and how they can bring positive change to the systems and services we deliver to benefit our customers and employees.

Thank you for your time, please see below some links to some further information if you would like to learn more before our meeting.

Kind Regards,
John

Use Case & Network Information:
Unibright - Website
Unibright - High Security IT Synchronization Network
Unibright - Unified Service for Corporate Data Sharing
Unibright - European Investment Fund
Unibright - Enhanced baselined SAP Workflows
Morpheus Network - Supply Chain tracking, accountability and traceability
Origin Trail - Supply Chain tracking, discoverable and varifiable
Baseline Protocol - Underlying open source technology in Unibright
Baselining Public Blockchains - Corporate level secure private interconnectivity of data
European Central Bank - Central Bank Digital Currency (CBDC)

[_Vincent]

Dear Director,
Blockchain technology is becoming more and more present.

I would like to draw your attention on the fact that it would be a great opportunity for our company to grow efficiently, quickly, and above all with a level of privacy never reached until now.

First,
blockchain gives us the ability to transfer information between us and our partners in a secure and private manner. We leverage on privacy on the blockchain.
The privacy is also enhanced, by storing our business data with no tamper, and the capability to digitalize directories of business partners. The result will be a money profit on the privacy part.

Second,
in addition to privacy, the permission side will enable us to restrict access to some specific data to third parties. It will be efficient when we will have to track the process of workflow or keep an eye on the delivery of goods.

To conclude,
the blockchain performance part is a great opportunity.

Our Power Bi reports on company stats will be more up to date than today and with no tempered data coming from digital bots and so on.
We will improve our digital marketing, faster, compared others companies.

Smart contracts (self auto programmable software between us and our partners) will enable to deal quickly, and with no third-parties, with unknown or untrusted people.
In case of conflict, there is no need to use lawyers, fee-charged gov officials or others because terms are coded in the smart contract at the beginning and nobody can’t update or tamper the terms.

This world is changing very fast and soon, we will have to digitalize our assets.

The fact to be able to pay employees wages with the blockchain will give us the opportunity to make very fast and secure transfer with no high transaction fees.

The ability to connect too our off-chain devices (from supply chain or internal IT systems) will provide us flows more quick, more reliable, more secure.

We could check too identities of partners and their financial health, or verify diplomas of people before hiring wrong or fake profile.

So much to come…

We have to surf on this wave…

[wtraveller]

to CEO
Subject Blockchain integration

In today world of business 3 important aspects must be looked at. those being Privacy permission and protection of data (data integrity ) any breach of the breach of the above can cause serious loss of money, credibility and loss of confidence from our customers and employees. I would like to presents the Baseline blockchain solution with you.

Please let me know when we can meet and discuss.

Regards

Jean

[PhilD99]

This is my pitch to the CEO of a company involved in discounted merchant payments.

Although the current business model is profitable, there a several features which reduce the bottom line. The two most important are:

• Transaction fees – these constitute a significant proportion of costs.
• Cash flow financing – because of the lag between the funding of merchant invoices by us and our receipt of customer payment, our account balance is sometimes cashflow negative which incurs high borrowing costs.

I would like to propose a blockchain solution to improve our bottom line. As you know, blockchain has the advantages of speed, trustlessness, permissionless access, international markets, low cost and absence of middlemen.

These features of blockchain technology could benefit our business in the following ways:

• Fees for blockchain transactions, if set up with the correct architecture, are a tiny fraction of the fees charged by banks for credit and debit card transactions, and interchange fees would be eliminated. This is because blockchain transactions, being trustless, eliminate the need for middlemen.
• Blockchain would allow our receivables to be treated as assets to be tokenized, opening up several new possibilities for financing which would reduce our borrowing costs, as we could offer these to a much wider range of investors than we have at present with bank financing. We could even have access to a global audience of investors.
• Although public blockchains allow for permissionless access, it is possible for us to use a private blockchain with permissioned systems for our more private data including private communications, compliance etc. The specific permissions to be granted to any particular set of data can be easily programmed into smart contracts. Our compliance processes can be automated using smart contracts, reducing costs.

Solutions exist already for setting up a private blockchain architecture and for integrating it with public blockchains. So we do not have to “reinvent the wheel”, which means that our set up costs can be minimized.

I look forward to discussing this further with you and to helping the company to achieve greater success through the use of this ground-breaking technology.

[alp257]

Dear Mr. X
Director of Innovation, Great Company

Presenting you a business process improvement in our company.

Everyone in the company have to comply booking their time using different project codes.
Depending on what domain and what kind of work they are doing. Frequently, we need to change these projets codes according to the adaptive changes in the organization.
Morever, not only project codes but also the owners of these code that approve corresponding bookings. The approvers also need to manually check when such bookings depending
on the agreed frequency (via email or meetings) when to give their approval. These details of the time booking process could definitely need some improvement.

With the advent of private blockchain technology that can be utilize within the infrastructure of the company and the current SAP technology.
Integration of blockchain using the Baseline Protocol will be a great step towards other process improvements as well. Security of data, privacy, permission feature and performance
are taken into account and worth mentioning.

Imploring your consideration to take this as a great choice towards boosting efficiency at work.
With kind regards

[Iman_Imano]

Blockchain can get rid of the back office or a big part of it and make it more efficient and transparent. I can enable an active network of computers to manage operations through decentralized decision making and streamline those activities with algorithms instead of people with jobs and personal agendas. More speed, more efficiency and less cost.

[jak]

I’m currently travelling around the country at the moment using relocation vans between stops.
So as an idea off the top of my head, I will write a letter to the director of innovation of Traveller’s Autobarn - they definitely don’t have anything of the sort…

Your majesty,

It is unquestionable that with a fleet of over 500 vehicles and 30 branches across the country, having unilateral understanding of the hire terms is of interest; especially when more than 1 branch is involved.

An overwhelming number of hire agreements incur some dispute, and oftentimes this due to communication issues and lack of understanding between what the pickup branch has said, and what the return branch understands to be the case.
In these disputes where there is mismatching information, the company incurs the loss and very little is done to prevent it moving forward.

So my proposal is that we incorporate a company-wide blockchain where individual branches have transparent access to information from all other branches in the Traveller’s Autobarn network; alongside all of the rental agreements - both active and past.

When picking up a vehicle, the renter will sign the origin branches terms, and this will be published to the blockchain, where the 3 parties will have complete access to view:

1. Pickup Branch
2. Drop-off Branch
3. Customer

In this case, any customer or inter-branch disputes may have reference to immutable information and agreements stored on-chain.

This will drastically reduce unnecessary payouts (in the tens of $millions), as well as lawyers fees, and the hundreds (or thousands) of additional staffing fees dealing with these.

I propose the solution of Hyperledger fabric, where access to data can be stipend at varying degrees of authority.

For example, a customer may only have access to their agreement with the company.
Whereas branches will have access to agreements that only involve them as a pickup or dropoff location.
And then there may be inter-branch data which other branches will have access to - namely addresses, phone numbers, names etc.

On top of these benefits, blockchain may serve as a suitable database to keep track of vehicle locations and associated details across the company network.

I hope you take these suggestions seriously.

[Maleve]

Dear General Manager,

As a Quality Assurance Manager, I have been in charge of the audits to the Stores department over the last few years. There is a raising discrepancy between our purchased list material from vendors and our list of material at the stores department. Our operation is extremely delicate, so cannot afford grounded aircraft due to the unavailability of material. We always purchase 20% extra material so we don’t end up being penalized. I have approached before this problem, and additional security measures were put in place - We have changed the personnel and cameras were installed, but it didn’t solve the problem. Reason why I’m approaching you in order to find a solution of transparency and data immutability because this discrepancy of numbers in our material represents more than 1 million US Dollars loss. At a moment of cutting costs due to our client demand, it is imperative that in my position I directly approach you alerting you to a possible solution to save more than 1 million US Dollars yearly. My solution is the implementation of the Blockchain Technology which represents more transparency, data immutability, enhanced security, improved traceability, increased efficiency and speed sharing information and reduced costs.
Please let me know if you are interested in a presentation of Blockchain Technology integration in our company to reduce costs and improve our efficiency.
Best,
Marco

[SDMRDEL7890]

Dear CEO,

I am writing this memo in regards to the current performance of our system protocols and how the use blockchain technology can improve the efficiency and productivity of the business. I would like to present some foresight information outlining the technological use cases and how the business can take advantage of these new technologies to increase / improve business efficiency. Blockchain / Web3 technology currently has impacted various markets for example the from the financial sector, to music, art, real-estate, and supply chain(s). Within this current Legacy system there are severe inoperability and inefficiency issues in regards to business operation. Focusing forward, through the application and innovation of blockchain technology there is an opportunity to spearhead our sector by applying this new era technology to which its foundation is rooted in the function of multiple systems being interoperable with one another. Some key advantages to the incorporation of blockchain technology would be that Data is stored securely, Data is tamper proof, all transactions are immutable, and protected through cryptography. Blockchain technology will allow business to interoperate with Legacy systems such as SAP, Oracle, etcetera to which can benefit supply chain issues, including the tracking, handling, usage, interaction, location, and external environmental conditions. Customer acquisition and retention can be drastically improved through the blockchain protocol ; tokenization of company assets by offering our own company token / “digital currency” to which customers receive token rewards. Blockchain technology can be very cost efficient in regards to the day to day business operations, saving time and resources, minimizing defects, loss, theft, and damage through a system increased transparency. During our next executive meeting I will present these topics of discussion explaining these innovative technologies in detail to you and the entire Executive Board, articulating how to institute a positive change to the systems and services we deliver to benefit our customers and employees.
Thank you, Sincerely
Solomon
https://unibright.io/
https://medium.com/unibrightio/ub-framework-from-unibright-now-available-for-trial-and-purchase-on-sap-app-center-cab9bdcf5748?source=rss----f5371fdbc596---4
https://medium.com/unibrightio/baseline-course-on-ivan-on-tech-blockchain-academy-ed1fc154fd5a
https://entethalliance.org/
https://medium.com/unibrightio/the-baseline-protocol-ethereum-for-enterprises-with-the-help-of-unibright-38c857788ce7

[gunnarseay]

To: Innovation Director
From: Gunnar Seay, Blockchain Integration
Date: June 22, 2022
Subject: Blockchain Integration and its Benefits for the Company

Business has been booming more than ever recently, and we are running out of space in our filing cabinets rather quickly. I know we are in the middle stage of growth in our home loan business as well, and the leasing/housing market is incredibly inflated at the moment; instead of moving our operations to a bigger building and starting a new lease in a seller’s market, I have proposal that we wait and integrate our customers’ filings into a blockchain database. Even when we do end up moving to a bigger office down the line, we will be able to save a significant amount of space and reduce our carbon footprint by replacing our client filing cabinets with a private blockchain structure. We can now eliminate the extra cost of constantly printing paper, and can stay in the location we are in to avoid paying money to move offices. With your permission to make this change, we can create a private channel that is securely encrypted for client mortgage rates, loan specifications, and potential refinancing opportunities down the line. These aspects of key information will be easily available for us and our partnering credit firm/insurance companies to access in an exclusive, permissioned channel. Not only will our clients data be more organized in a “digital filing cabinet”, but transparency with our partners will be improved as well. We can also add more partners and have more national reach from here on out; the more partners and reach we have, the more potential clients and profit we could make. Furthermore, with an involved payment service directive and no physical accountant needed to organize files, we can save a lot of time and money (especially around tax time) with speedier, secure transactions. Overall, I truly believe in blockchain and its profitable-improvement potential to our business for higher success.

Works Cited:
Roh, M. (2022, January 13). Blockchain enables ‘digital filing cabinet’ for Aluminium - Rio Tinto . Fastmarkets. Retrieved June 22, 2022, from https://www.fastmarkets.com/insights/blockchain-enables-digital-filing-cabinet-for-aluminium-rio-tinto
Wikimedia Foundation. (2022, June 2). Payment services directive . Wikipedia. Retrieved June 22, 2022, from https://en.wikipedia.org/wiki/Payment_Services_Directive

[Capig]

TO: CEO
FROM: Logistics Manager
SUBJECT: BLOCKCHAIN Intergration
DATE: 7/10/2020

This email is to highlight a forward thinking approach to our outdated logistic systems.

I have been studying Blockchain Development over the past 2 years, I feel the technology and it’s usecases are imperitive today…

Our industry is to undergo a major transformation which has already begun. As with the internet revoultion, blockchain will most certainly be part of our daily lives, with out even realising we are using it…
The company should therefore seize the oppurtunity to position itself in this up & coming trend early and secure its competitive edge in correcting underlying problems with our current Supply Chain issues.
Blockhcain intergration is being used or being developed in some of the largest global companies today, CocaCola, Tesla, IBM.

To get a better understanding I’ve inclueded a couple of links to VChain who are pioneers in Supply Chain Technology, with an array of high end partners.
https://vechaininsider.com/partnerships/a-complete-list-of-vechain-partnerships/
Unibright who are supplying Coca Cola with solutions using their Baseline Protocol… https://medium.com/unibrightio/baselining-the-north-america-coca-cola-bottling-supply-chain-f87539220269
A great Forbes Article highlighting the importance of Blockchain in Supply Chain https://www.forbes.com/sites/forbestechcouncil/2021/11/08/blockchain-in-supply-chain/?sh=2805a97c

Given the opportunity I would like to open the lines of discussion & organise a full presentation for the board & create a road map on how we can move forward implementing Bockchain into our current system.

Kind regards,

Brett Alexander

[aldrin]

Dear CEO "future company of not primary goods",
currently we are phasing a recession that estimate we could lose some of our customers due to cost or reduce in spending power; to retain our consumers we would need to demonstrate high adaptability and build trust when attending our customers to demonstrate we provide value. We have great processes and great human talent; however we are still being impacted by the bullwhip effect from our good providers that impacts our inventory, cost of goods and price to our customers:

My suggestion is to maintain prices and at the same time manage a better balance using a peer-to-peer system with all the parties that are part of our price and cost scheme to allow us to be profitable by avoiding over-inventory, maintain immutable cost of goods from our manufacturers and suppliers and help our valued costumers not being impacted with prices in a permissioned based network with all parties. My team can provide more details on the approach to cover any detail if allow the opportunity to present this proposal using an Enterprise Blockchain which capabilities can help us with:

• data safety and immutability : encrypted data with our partners and customers which is immutable and respected; no last minute price or inventory orders
• transparency : the allow partners (peers) of the blockchain would read the same data, no excuses and same information is available on both sites that builds trust and avoids cost or prices swings.
• fast transactions : all the manual process can be build in instructions using algorithms; where usually it would take our accounting and marketing team days to complete; we can reduce that it within seconds by only reading the data secured by the blockchain network
• cost effectiveness and lean organizations: as previously emphasize before, we could be more agile, reduce contractors for quarterly work and repetitive task can be programmable in the blockchain using smart contract algorithms
  cross-chain adaptability : we understand that we still have terms with other supply chain tools like SAP; we could use interoperable interfaces API to interact with these system (off-chain) that would provide data in almost real-time. Big companies like IBM, SAP are investing in these new model for enterprises:
  
  

Also we are not discharging or removing our current cloud network; we would add the enterprise blockchain to allow our important data to be immutable, secure and transparent and collaborate faster and efficiently with our suppliers and customers. the company Garmin is a case on point to demonstrate that new IT initiatives to mitigate the bullwhip effect using cloud and blockchain adoption.
Our team is open to answer any additional questions regarding forecast, price models and Know your Costumer to address within the blockchain as well as the skills needed in your IT department but most imporantly these team will help reduce manual and repetitive task to allow your talent in other groups to work on the creativity and unique challenges not able to do with computers

IT innovation and consultant - aldrincITo

[ChadSmith]

Hi Chad,

Based on my initial deep dive into the blockchain space and how best we can utilise this technology to streamline our internal and external operations. here are throw areas that I feel we can focus on and implement within a short period of time, as well as what benefits they will bring;

1. Privacy - due to the nature of the blockchain, we can ensure that client details, transaction and other information can be kept, stored and transferred privately. Currently, all of our client data - including past and present transaction and financial are all stored on our off-chain servers which are susceptible to breach, hacking and leakage.

2. Performance - this aspect will be vital for the operations department, as we can shift our current system to an ultra-efficient blockchain network. This will also ensure we don’t have the current delays we’re experiencing. Shift the operations to the blockchain, will also allow us to ramp up the scalability of our expansions plan in Q3.

3. Permission - with the benefits of blockchain technology, we can streamline our internal permissions system to allow only those that absolutely need control and access to be able to view, manage and interact with those work streams.

When you have a moment, let’s setup a meeting and we can delve into the intricacies of the technology and put a plan to move forward, in place.

Thanks,
Chad

[Cromaz]

Dear lecturer,

sorry but maybe I haven’t understand the task.

I don’t know what blockchain usecases have to do with “the money” I should talk about here. Also I don’t see why a blockchain technology necessarily increases profit.
Especially after this lectures, I can’t understand the connection between the requirements of the assignment and the learned. I can represent every aspect of the blockchain in any system or database, of course without the immutability feature of a blockchain.

I try a small example for a training and certification company.

Dear “Director of Innovation”,

in the past we got a lot of calls regarding verification of certificates and could determine some fake certificates. Also we had a case of a non trustworthy employee which manipulated data in our system to grant a passed exam to a participant.

To prevent fraud I recommend to move our database and processes to following setup:

If we would handle the process of our courses over a private/public blockchain combination we could prevent fraud and easily share data for verification purposes without disrupting privacy regulations. Also we have a safe way to communicate with our lecturers.

• Record data of courses, lectures, exams with “no edit” closing condition to prevent manipulation

• Tokenisation of Certificates by creating an NFT

• Certificates containing identifier and digital signature, which allows anybody to verify the authenticity. Data on the print is the same as on the NFT

• Encrypted communication with the lecturers because of privacy regulations

[versus]

Let’s take the fashion industry. It’s a dynamic sector and is the fundamental expression of individuality and new styles emerge continually.
Also we can observe infringement of fashion

In 2017, the global market in counterfeit consumer goods was worth $340 billion, damaging brands and degrading consumer trust and revenue (https://openledger.info/solutions/blockchain-retail/).

the fashion industry is facing about severals issues as the talent deficit, the sustainability gap, unnecessary textile waste… (https://3dlook.me/content-hub/fashion-industry-challenges/)

Blockchain, can offer some solutions to tackle this issue faced by the fashion industry.

While we buying a new apparel, we don’t think about its origin. Most of us don’t know the real origin of our clothing and are definitely not aware of all the stages that a garment goes through before reaching us.
Now blockchain can provide you the whole information about your clothes within a matter of few seconds. All the stakeholders involved in the journey of the clothe will be register on the blockchain with an unique ID. Each player of the fashion industry needs to record the relevant information about the product on the blockchain. Starting from raw materials, to the end until the delivery in shops for the consumer. The entire life of the product will be registered.
When the customer wants to buy an item, he can scan the unique code on the tag of the item using his smartphone to see the complete history of the item. This way, the consumer can validate the authenticity of the product.
This transparency in the supply chain will definitely be a big step in the fight against the fake products.
It can be benefit for all stakeholders, it help the manufacturers to get the real time updates about the inventory of the retailers.
The clear idea about the expected demand for his products can help a manufacturer to better manage his inventory levels. Additionally, customer feedback regarding improvements in the product like color, prints, designs etc. can be directly communicated to the manufacturer, which in turn will help in establishing a better relationship between the brands and the customers.

This would really be a boon for the brands as they will be directly connected to their customers rather
than relying on third parties to collect data for them.

A far more advanced stage of data collection can be through the smart sensors - that can be fitted in the clothes. This real-time data will be stored on the blockchain which can then be sold by the customer to the manufacturer.

Well the blockchain can process payments across currencies and channels rapidly and securely, leverage smart contracts to deliver wholly new, value-added services, reduce fraud, theft and counterfeiting with IoT and blockchain combined

[PaulS96]

In the aviation industry many things are dependent on correct information and on information being trustworthy and available to authorities for control. In this text I want to go into the possibilities that blockchain technology brings from the point of view of an airport.

The first and most obvious area where blockchain technology can be used is identification. Barcodes on tickets and ID cards for personnel could be linked to an NFT. Once a barcode is scanned the correct information can be verified. The NFT could hold security clearing, for passengers their correct departure area and their baggage could be linked. The barcode could take up the part of an address and all things needed in connection with that can be sent to this address. The software checking the inputs at the ticket or ID check then can access this information for further processing. The advantage of this approach is the traceability of information and the possibility for a trustless verification if multiple parties are involved and in case of disputes. The great disadvantage and obstacle in this concept is the fact, that the need for fast interactions at an ID or boarding pass check is probably not suited for querying data directly from a blockchain. Most likely there needs to be a way to store data off chain and to let the blockchain update data every block.

The second point is the supply chain. Here you can track cargo but also the supply chain of maintenance of aircraft. Especially in the area of maintenance the following points are important:

• Components movement data
• Component usage data
• Component maintenance data
• Asset status-data for residual value monetization
• Financial/contractual transactions
• Auditing & compliance assurance

The great advantage is that authorities can look at the data beforehand to step in if needed. One difficulty in this concept is making sure, that the data put into the system is correct as it is most likely put in manually and therefore prone to manipulation.

If you are interested in this topic, read the articles I provided:

https://www.binance.com/en/news/top/7224556

https://www.aaco.org/Library/Assets/Promise%20Challenges%20of%20BC%20Impl%20for%20Engine%20MRO%20by%20Ahmed%20Rajei-012544.pdf

https://connectedaviationtoday.com/three-ways-blockchain-technology-improves-airport-operations/

https://www.iata.org/contentassets/2d997082f3c84c7cba001f506edd2c2e/blockchain-in-aviation-white-paper.pdf

[sheila.osman]

This is more of a general overview on the assignment and how pragmatic we react to the abundance of information in the blockchain space.

In my opinion, I believe that there should be made a thorough analysis of the impact of having or not the blockchain solution in place.
I do like the course, I find a lot of new useful things to learn, but we should not forget that the DLT exist for a long time, just that they are called differently than blockchain.
When proposing any kind of new technology, I believe it is important to understand what the solution brings on top of the existing, there are definitely other solution that ensure the 3Ps and you do not necessarily need blockchain.
On top of that, what would then be the impact of the new technology, is it feasible, is it worth the effort?
In my opinion, it is important to assess why specifically do we need blockchain and be sure of the real life use case(s). In theory there are many things worth researching.

[hmpbkj]

Dear Director of Innovation,

I am writing to strongly recommend that we explore the potential of blockchain technology for our organization. While it is still an emerging field, the use of blockchain has the potential to significantly increase our bottom line and drive profits.

One of the key benefits of blockchain is that it allows for secure, transparent and efficient record-keeping and transaction processing. This can lead to cost savings in a variety of areas, including supply chain management, financial transactions and contract management.

In addition, the use of blockchain can also help to increase trust and credibility with customers and partners, as it allows for a tamper-proof record of transactions. This can lead to increased customer loyalty and potentially even new business opportunities.

There are already many successful examples of companies using blockchain to drive profits and efficiencies. For example, IBM has used blockchain to streamline its global supply chain, resulting in significant cost savings. And JPMorgan Chase has developed a blockchain-based platform for its treasury services division, which has reportedly reduced the number of errors and reduced settlement times.

I would be happy to provide more information and research on the potential benefits of blockchain for our organization. I believe that exploring this technology could be a highly lucrative move for us, and I hope that you will consider it as a potential area of focus.

[Mohammed_Al_Arab]

Mr. X, Diercetor of Innovation,
I would like to bring to your attention the concept of integrating blockchain into the business model of the company. I will not explain in detail everything through this message, but I can assure you that whenever required I can put together a full presentation in order to clarify the notion. The main target is to cut on losses and make more profit. Blockchain can ensure better profits by cutting down costs. It ensures privacy, immutability, it is tamper proof, can be public or private, supports permissions and smart contracts. Less mistakes, less tampering risks, less confusion and more organization and clarity all lead to decreasing costs in terms of time and hence money. Of course there is much more to it than that. If you have time to quickly check the links I have sent in this message it would be great.

• https://www.ibm.com/blogs/blockchain/2020/08/learning-how-to-increase-your-profits-with-blockchain/
• https://www.timacum.com/post/how-blockchain-improves-your-business/
• https://www.msrvantage.com/use-cases/profitability-of-retail-industry-improved-by-blockchain-technology/
• https://onlinelibrary.wiley.com/doi/abs/10.1111/poms.13456
• https://www.ibm.com/topics/blockchain-for-business#:~:text=Resources-,How%20does%20blockchain%20work%20for%20business%3F,build%20trust%20and%20remove%20friction.
• https://www.insiderintelligence.com/insights/blockchain-technology-applications-use-cases/
• https://www2.deloitte.com/content/dam/Deloitte/dk/Documents/strategy/Business%20Blockchain%20in%20Finance.pdf
• https://appinventiv.com/blog/importance-of-blockchain-for-business/

Thank you for your attention and I hope to receive a reply soon.

[Joeyj007]

Dear Director of Innovation

Re: Implementing Blockchain at XYZ Pty

I am writing to discuss the benefits of using a private blockchain at XYZ Pty and how it can benefit the company and increase efficiency.

Almost all businesses are keen to implement blockchain technology for their business models. The main reason is to reap major benefits like transparency, decentralization, immutability, and security at reduced costs.

The benefits of implementing a private blockchain at XYZ Pty include the following:

Decentralized Process

The data is not stored in a single entity. Every participant in the network owns the data, can access the information history, and confirm new transactions.

Transparency

It is a peer-to-peer network. The transactions occur in consensus with the participating parties and the transactions are notified. It is convenient and trustworthy.

Digital and Automated Records

The transactions are digital and automated. The business can streamline operations in an easier way and reduce paper-based transactions which increase efficiency and reduce costs.

Automated Validation and Verification

Blockchain utilizes consensus protocols to validate transactions and record data automatically. It does not rely on a single point of authority making the system fairer and secure.

Improved Efficiency and Speed

Blockchain transactions do not need intermediaries leading to a faster turnaround. It eliminates redundancy in operational processes through automation in a foolproof and stable environment. Over the long term this can potentially reduce staff costs and increase company profits.

Customization

Though blockchain is a distributed ledger with an immutable chain of data, a custom and private blockchain network can be created as per the business logic. It can be implemented in varied business spheres as required.

Security

Blockchain is highly secure due to its digital signature and encryption. It is immutable, tamper-proof, and convenient. The data is stored in a number of places and immune to hackers.

Moving forward, let me know if you have any questions relating to the above information and I would be happy to assist.

Kind Regards,

Joe.