RECRUIT AND RETAIN

BROKEN BOTS 'N' BLOCKS

WELCOME TO BLOCK 3

THE FINAL HASH

 

BLOCK RULES

By continuing to complete this block of the challenge, you agree to the Challenge

Terms and Conditions as provided at the beginning of the challenge.

Communications and coordination between student team members, between each other and with mentors, is out of our control and is the responsibility of the team.

Students are not allowed to solicit or accept support from individuals who are not part of the Blockchain Challenge. Mentors can provide support per the Mentor Endorsement Policy provided in the Team Resources section.

Each of the three students in the team must have a part in delivering the final presentation. In cases where teams lack 3 team members (i.e. a team member dropped out or were affected by Hurricane Florence), let us know immediately that you intend to complete the proposal with only 1 or 2 individuals.

Cite resources for any facts, numbers, or other market data you include in your final submission.

Final submissions must be a slide deck with audio of the team presenting their proposals and must not exceed 12 minutes. Every 20 seconds over 12 minutes will cause a penalty of 5 points deducted from the total 70 points allocated for this block.

 

BLOCK MISSION

BRING BLOCKCHAIN INTO THE FUTURE

Your team has entered the FINAL HASH! Your objective is to use what you've learned in Blocks 0, 1, and 2, expand on your knowledge through additional research as a team throughout this block, and include all 4 FABRICS detailed below into a formal Blockchain Migration Plan ("BMP").

KEYS TO YOUR TEAM'S SUCCESS

COLLABORATION | COMMUNICATION | CREATIVITY | CURIOSITY

YOUR PROPOSAL MUST ADDRESS ALL 4 FABRICS

FABRIC #1: MIGRATE THE CYCLE

CHOOSE ANY ONE, AND ONLY ONE, OF THE ACCOUNTING CYCLES BELOW

THEN RESEARCH THE MODERN-DAY WAY THE CYCLE WORKS...

...SO YOU CAN

INCLUDE THE FOLLOWING IN YOUR FINAL BMP

  1. Create a diagram to represent what the accounting cycle you selected looks like in a Blockchain World

  2. Specify entities involved in the cycle who become PEER NODES

  3. Specify the workflow of the cycle that establishes CHANNELS

  4. List key documents in the cycle that should be turned into CHAINCODE

FABRIC #2: BLOCKCHAIN ADOPTION

"CONVINCE US WE SHOULD ADOPT BLOCKCHAIN!"

Choose any 3 of the 5 topics below and for each one you choose provide research how the topic plays a role in adopting blockchain.

COSTS TO ADOPT

Reseach and report on current costs associated with running a blockchain network and project a timeline for when it leads to company savings

TALENT TO ADOPT

Establish a plan to educate current professionals on blockchain and project a timeline for when all professionals to be blockchain-ready

BENEFITS TO ADOPT

RISKS TO ADOPT

Reseach and report any new risks that can arise in a blockchain world and commmunicate a way to mitigate or control such risks

Communicate how features of blockchain technology achieves efficiency in transacting with other parties and business processes

TIMING TO ADOPT

Research the speed of advancement in blockchain technology over the past 10 years and project a timeline for mainstream adoption

FABRIC #3: BLOCKCHAIN ADMINISTRATION

WHO WILL ASSUME CONTROL OF THE BLOCKCHAIN?

One major question in the accounting and blockchain world is who will be responsible for maintaining the network? Choose one of the two options below and address the two questions in your BMP.

ONE LARGE ENTITY

such as regulatory bodies, government, or industry-specific trade associations

INDIVIDUAL ENTITIES

such as public and private companies, not-for-profit organizations, service firms

BASED ON YOUR CHOICE, ADDRESS THESE TWO ITEMS

1. EXPLAIN WHY YOU MADE THIS CHOICE AND LIST THE PROS AND CONS

2. WHO ACCEPTS RISK OF ADMINISTERING A BLOCKCHAIN NETWORK?

FABRIC #4: THIS IS US, IN THE FUTURE

DE-SKILL AND RE-SKILL THE PROFESSION

For each of the professional roles below, first identify 5 SKILLS required today that may be replaced or will significantly change as blockchain technology is adopted by organizations.

 

Then reskill each role by listing 5 NEW SKILLS required in blockchain world

and elaborate on these skills as you present your slides.

TIP: SEARCH JOB POSTINGS TO FIND MODERN-DAY SKILLS OR ASK YOUR MENTOR

SENIOR ACCOUNTANT

C.F.O.

AUDIT MANAGER

 

TEAM  RESOURCES

TRUEUP BLOCKCHAIN CONSORTIUM

The TrueUp Blockchain Consortium (TBC) is a team of professionals you can reach out to specifically for technical questions around blockchain technology. The TBC is available to all teams and mentors, however the TBC is only available for technical questions with objective responses and cannot contribute to ideas, proposals, forward-thinking, or other creative aspects of any team's final proposals.

If your team asks a question outside of technical application of blockchain, we will let you know.

MENTOR ENDORSEMENT POLICY

Mentors can guide students when they have questions to the following extent:

  • Provide links to relevant sources of information or research the mentor is aware of to support the team

  • Share and explain current day knowledge regarding skills needed for accounting and audit roles, accounting processes, and the role of regulatory bodies.

  • Give one round of feedback on the team's plan prior to their final submission.

REVISIT OTHER BLOCK RESOURCES

 

FINAL SUBMISSION

FINAL SUBMISSION CHECKLIST

You have one file that is your slide deck to be submitted directly in the TrueUp challenge page

You have a second file that is a screen recording with audio of your team presenting their Blockchain Migration Plan

Your presentation is 12 minutes or less, otherwise you accept there is a penalty of 5 points for every 20 seconds over

Each team member spoke their part of the presentation within the recording and if you have less than 3 team members, you notifed the TrueUp team in advance

Only members of the team contributed to the materials about to be submitted with no support from outside individuals or parties. Our mentor helped to the extent provided in the Mentor Endorsement Policy