ENTERPRISE USE CASES FOR SMART CONTRACT TECHNOLOGY ON BLOCKCHAIN NETWORKS

Open Access
Author:
Zhang, Daniel Yu
Area of Honors:
Finance
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
  • Jingzhi Huang, Thesis Supervisor
  • Brian Spangler Davis, Honors Advisor
Keywords:
  • Blockchain
  • Cost Benefit Analysis
  • Smart Contracts
  • Finance
Abstract:
Blockchain is a technology that allows for the secure storage of information on an open, distributed system. It was formally introduced as an implementable technology by Satoshi Nakamoto in 2008 and has enjoyed surges in public visibility due to the popularity of its most famous application, Bitcoin. This thesis examines the history, theory, and characteristics of blockchain in order to understand why it has the potential to be used in the business world. This thesis will specifically focus on blockchain’s synergy with smart contracts to facilitate asset transfers in financial services, healthcare, real estate, and fine art. After a discussion of potential technical and legal challenges and an analysis of existing business use cases, this paper will develop a cost benefit analysis to determine the financial feasibility of enterprise blockchain solutions. This thesis will conclude with recommendations for the development and direction of enterprise blockchain solutions in the future.