Sample PHP Organizational Development and Blockchain Dissertation Proposal

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Significance of BlockChain Powered Smart Contracts in Organisational Development

Executive Summary

Smart contracts are contracts in which no physical effort is required for the execution of contracts. These contracts are powered with blockchain technology which refers to the technology in which information is securely transferred through the internet without affecting the confidentiality of data.

Information is transferred across different computers, and most organisations are now involved in smart contracts. Blockchain technology encourages smart contracts, and these contracts contribute to the development of organisations. This research proposal intends to research the significance of blockchain-powered contracts in organisational development.

Introduction

According to Pilkington (2016, p. 255), the blockchain is a new way to use the internet and distribute digital information but not copy the information.

An internet user can transfer a piece of digital property through the internet to another user so that transfer is safe. Everybody is aware of the transfer of information, but no one can challenge the legitimacy of the transfer.

This document intends to present a research proposal in which the importance of blockchain-powered smart contracts in organisational development is discussed. Blockchain technology is increasingly becoming common and useful in personal and organisational development; therefore, this topic is chosen for the research.

Aim and objectives

The study’s main aim is to explore and evaluate how blockchains are effective for smart-powered contracts in organisational development. This aim will be achieved through the objectives listed below;

  • To understand the concept of blockchain-powered smart contracts.
  • To identify the use of blockchain in organisations
  • To determine how blockchain-powered smart contracts enhance personal and organisational development
  • To study the significance of Blockchain-Powered Smart Contracts in organisational development

Research questions

Following research questions will be answered in the research study;

  • What is the concept of blockchain-powered smart contracts?
  • How do organisations use blockchain technology?
  • How blockchain-powered smart contracts ensure personal and organisational development?
  • What is the significance of Blockchain-Powered Smart Contracts in organisational development?

Problem statement

Christidis and Devetsikiotis (2016, p.2295) stated that Blockchain technology is although becoming common in the recent era.

However, still, the majority of people are not aware of the concept because it is a bit complicated. It is not easy to understand blockchain-powered contracts within minutes.

Therefore, this study will first discuss the concept of blockchain in detail. A person who does not get the concept of blockchain will not understand anything in the study.

Information transfer is an important yet risky activity in organisations; there is a risk of information leakage, and such information is mostly confidential.

According to Zheng et al. (2017), Blockchain technology has made it easy to transfer information safely and securely. Still, there are more uses of blockchain technology other than information transfer.

It is the reason why it is becoming increasingly popular and is the reason for organisational development. This study intends to understand the concept of blockchain-powered contracts in organisations.

Literature review

Smart contracts are contracts that use blockchain technology and connect blockchain to the real world. According to Crosby et al. (2016, p.8), blockchain can make you charge your electric vehicle, open the front door, and turn on a washing machine without lifting a finger.

These contracts are the key to decentralization and a trustless mechanism to transact any business using blockchain. According to Yli-Huumo et al. (2016), smart contracts are a set of promises in digital shape, including protocols in which parties perform based on such promises.

Although smart contracts are very useful, there are no heavy or fancy types of machinery or equipment to carry out the contracts. Smart contracts just depend upon blockchain where the contract is executed on a self-basis, and there is no requirement for any third party to execute the contract.

Lemieux (2016, p.112) stated that a common example of blockchain contracts includes Ethereum blockchain designed through Ethereum Virtual Machine, a programming environment for writing codes for smart contracts have it execute on the blockchain.

Nofer (2017, p.185) stated that blockchain technology is increasingly becoming popular because it effortlessly fulfills business needs.

According to Trautman (2016), there are many uses of blockchain technology; it helps transfer information in secure manners, encourages cloud storage, helps in supply chain communication, involves electronic voting, and is also helpful in paying employees.

This implies that blockchain technology helps minimize human effort in business. The research will add more literature regarding blockchain, and the concept will be explained more clearly.

Methodology

The study follows qualitative design because the concept is such that it cannot be understood through data convertible into numbers. The researcher will need to conduct interviews with managers involved in blockchain-powered contracts, and they can explain the concept of blockchain and blockchain-powered contracts in detail.

Therefore, qualitative design is chosen to extract information through insights, experience, and knowledge of managers involved in blockchain-powered contracts (Neuman, 2013).

Further, primary and secondary data will be used; primary data will be extracted from interviews, while secondary data will be obtained through the internet, academic journals, and articles.

Data will be analyzed using thematic analysis, which is a useful tool to analyse responses to interviews. The sample is 10 managers from different organisations who will be asked about the significance of blockchain-powered contracts in organisational development.

Timescale

References

Christidis, K. and Devetsikiotis, M., 2016. Blockchains and smart contracts for the internet of things. Ieee Access4, pp.2292-2303.

Crosby, M., Pattanayak, P., Verma, S. and Kalyanaraman, V., 2016. Blockchain technology: Beyond bitcoin. Applied Innovation2, pp.6-10.

Lemieux, V.L., 2016. Trusting records: is Blockchain technology the answer?. Records Management Journal26(2), pp.110-139.

Neuman, W.L., 2013. Social research methods: Qualitative and quantitative approaches. Pearson education.

Nofer, M., Gomber, P., Hinz, O. and Schiereck, D., 2017. Blockchain. Business & Information Systems Engineering59(3), pp.183-187.

Pilkington, M., 2016. 11 Blockchain technology: principles and applications. Research handbook on digital transformations, p.225.

Trautman, L.J., 2016. Is disruptive blockchain technology the future of financial services?.

Yli-Huumo, J., Ko, D., Choi, S., Park, S. and Smolander, K., 2016. Where is current research on blockchain technology?—a systematic review. PloS one11(10), p.e0163477.

Zheng, Z., Xie, S., Dai, H., Chen, X. and Wang, H., 2017, June. An overview of blockchain technology: Architecture, consensus, and future trends. In Big Data (BigData Congress), 2017 IEEE International Congress (pp. 557-564). IEEE.