5.3C Blockchain Flashcards

1
Q

What is blockchain?

A

-permanent digital record of transactions that is stored across a distributed or decentralized network of computers

-chained together through sealed records of transactions
hashing: every block has a hash ID, if chain is changed the hash ID is changed and owner gets informed

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2
Q

List the six distincitves of Blockchain

A
  • decentralized and centralized
  • distributed
  • transactions in the ledger/record are validated by everyone
  • every user has a unique digital key
  • information recorded is immutable/unchangable
  • the ledger is governed by programmed logic
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3
Q

What are possible advantages of BC in Logistics and SC?

A
  • Asset Tracking
  • Total visibility across and down into multiple tiers of the SC
  • Accountability
  • Process conformance
  • improved collaboration across the SC
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4
Q

Define structural and reational embeddedness

A

Structural involves how relationships are configurated or structured → impersonal side of interactions

Reational is the configuration of personal realtionships through a history of events → personal side

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5
Q

List the stages of an evolving network

A
  • fluid network: build by a new firm
  • growing network: increased structural embeddedness
  • mature network: increased relational embeddedness
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6
Q

List problems of BC

A
  • latency and scalability
  • cost and energy usage
  • lack of regulation
  • data quality
  • lack of knowledge
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7
Q

How would Blockchain technology support inventory management, demand management, and transportation management in the supply chain?

A

→ visibility (stock level, reduce bullwhip effect, reduce inventory level)

→ better forecast (POS data)

→track and trace

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