Your Task

•    Create a report on Blockchain in the context of Fintech and RegTech.

•    This task is to be done individually.

•    Submit your report as a Word file using Turnitin on Monday 23:55 AEST

Assessment Description

Learning Outcomes: LO2, LO4 and LO5

Background: Blockchain is an emerging technology of great importance in Finance, Economics and

Accounting. It impacts the way we deal with and monitor financial transactions, trade, identify ourselves, and is having an impact on auditing and regulation.

You area compliance manager in a financial institution. Your company wants to use blockchain for three purposes:

1.  As a mechanism for secure digital transactions and smart contracts

2.  As away of managing digital identities

3.  To offer clients the chance to invest in cryptocurrencies

However, the executive management team are not sure of all of the benefits of these applications or possible ethical, legal and privacy issues.

You have been requested to prepare a report for management that will address the three key purposes   above and to address the concerns raised by the executive. Your report should explain what blockchain  is, explain these uses (applications) and how it will benefit yourself and the company auditors in a report, as outlined below.

Assessment Instructions

Do your initial research from the workshops then find relevant articles on the internet to support your statements.

You are to write a report as follows:

•    Introduce the idea of blockchain and its applications in general. [400 words]

•    Briefly explain the applications that we arefocussing on here (1,2 & 3 above).  [200 words]

•    Describe in detail how and why blockchain can be applied in these three ways. [400 words]

•    Describe the benefits blockchain can offer auditors and compliance officers and subsequent positive impact on the organisation.  [300 words]

•   Assess possible ethical and privacy implications of the applications at the financial institution at which you are imagining that you work. The impact could be on staff, customers or other   stakeholders. [400 words]

•    Use at least ten (10) relevant references and the Harvard referencing style. References must be relevant to what you are discussing in each paragraph.

•   Take care with your report structure and written presentation. Remember, your audience for the report is the executive management team, so you should write appropriately for that audience.

Use of Generative AI (eg Chat GPT)

You may use generative AI to assist you in preparing your report. However, it is important to consider the following if using generative AI:

•   The use of generative AI must be referenced accordingly

•   The wording submitted must be your own – it cannot be simply a ‘cut & paste” from the generative AI tool

•    If using generative AI, you must in addition to the above, include as part of your references a list of the prompts used in order to produce output from the generative AI tool.

Some Starting references

https://www.euromoney.com/learning/blockchain-explained/what-is-

blockchain#:~:text=Blockchain%20is%20a%20system%20of,hack%2C%20or%20cheat%20the%20system.&text=Each %20block%20in%20the%20chain,added%20to%20every%20participant's%20ledger

https://ethics.org.au/blockchain-some-

considerations/#:~:text=The%20development%20and%20application%20of,integrity%20of%20the%20system%2C%20 and

https://nexia.com/insights/global-insight/blockchain-technology-opportunities-and-challenges-for-auditors/

https://consensys.net/blockchain-use-cases/digital-identity/

Assignment Submission

Students  must submit their  individual  report via Turnitin on Monday of Week 10 at 23:55 AEST.

This file must be submitted as a Microsoft word document to avoid any technical issues that  may  occur from  incorrect file format  upload.  Uploaded files with a virus will not be considered as a legitimate submission. Turnitin will notify you if there is any issue with the submitted file. In this case, you must contact your lecturer via email and provide a brief description of the issue and a screen shot of the Turnitin error message.

Students are also encouraged to submit their work well in advance of the time deadline to avoid any possible delay with Turnitin similarity report generation or any other technical difficulties.

Late assignment submission penalties

Penalties will be imposed on late assignment submissions in accordance with Kaplan Business School’s Assessment Policy.

*Assignments submitted at any stage within the first 24 hours after deadline will be  considered to be one day late and therefore subject to the associated penalty.