Bushra Nayab

Bushra Nayab
Apply your knowledge of Blockchain Technology to analyze the initiative and discuss its
potential pros and cons.
Ans) Block chain technology is in the lime light due to its potential. Block chain technology is
according to experts has the potential to improve systems by unleashing its potential in a
number of markets and areas. However the concept has created equal ambiguity and
queries in the mind of audience.
In order to know the potential advantages and disadvantages of block chain let’s first focus
on the basic structure of block chain technology which can help us better analyse this
mysterious giant.
Block chain technology:
Block chain as its name indicates is a chain of block, the block hold the information about
transaction. Each block has a hash code and proof of record which makes it safe from
tempering and other potential frauds.
Whenever a transaction takes place it is verified by complex algorithms handled by
distributed ledgers hence a chain is generated.
Applications:
One of the renowned applications of block chain is bitcoin, however its applications can be
unleashed in medical and other regulatory organizations since its preservation against fraud.
One of the initiatives taken highlighted in the case is of land reform, however it could be
used in other areas such as land registration or vehicle registration.
Other initiatives such as in transportation or finance will make the processes digitized and
hence will improve the efficiency and would lead to ease of access and ease of use of such
facilities.
Success factors:
The good thing about the situation is that the initiative is backed and supported by the state
and collaborations are encouraged also the development of ecosystem and delivering
resources is a plus point too.
Use of state of the art technology and collaboration if state and private entities is a plus
point too.
One of the hurdles in block chain technology is required infrastructure which has been
minimized to some extent.
Advantages and disadvantages of Block chain:
Advantages:
Governance:
First and foremost advantage is governance of land reforms and other such areas
governance is important because the lack of governance lead to disputes.
Transparency:
The process could be made transparent through distributed ledger feature of block chain
which solves the nuance of fraud.
Speed of transactions:
Speed of transaction is also improved since the lengthy and red flagged process is replaced
by efficient block chain, it still requires time but lesser.
Unaltered:
It is very difficult to change records in block chain hence the security is guaranteed.
Ease of Access:
It is easy to access, you can access it from anywhere.
 Disadvantages:
Though the initiative is supported by government and there is a support in the form of
ecosystem and resources, there still are disadvantages:
Uninformed:
Many people might not get the enigmatic concept of block chain and a lay man may avoid it
due to this.
Power:
It requires huge power capability which might not be available.
Lack of Existing records:
There is lack of record keeping in the different sectors which created potential but also
disadvantage for the application of block chain.
Integration:
Integration of block chain technology using old systems could also hamper the
implementation of technology.
Data couldn’t be edited:
Editing of records is not possible this is equally a threat and disadvantage.
ANSWER#2:
Opportunities in Pakistan:
Though the concept is equally new in Pakistan and it hasn’t gained much traction but there
are unlimited opportunities such as:
Manipulation could be avoided:
Manipulation of records could be avoided.
Streamlined record keeping:
Record keeping could be streamlined it would be a transformation from book keeping to
such a streamlined system.
Verification:
This also leads to ease of verification of records.
Unified database:
There would be a unified data base which will further improve the processes.
Data duplication:
Data duplication could also be avoided since there is a single data base.
Challenges:
 Lack of infrastructure
There is no supportive infrastructure and resources
 Lack of ecosystem
 Lack of information
People lack basic knowledge of the concept.
 Lack of knowledge on how to implement and use the technology.

Few businesses know how to implement and unleash its potential.
 Also the lack of government support can hamper the implementation.

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 Lack of knowledge on how to implement and use the technology.

 Also the lack of government support can hamper the implementation.

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