The last mile problem is the disconnect between online and offline activities. Solving this problem involves building a bridge between the offline events and
the online recordings of those events during the verification of a transaction in a way that ensures an accurate accounting in the immutable ledger.
LO4: Investigate (online and offline) complements to blockchain technology that may help to solve the last mile problem.
LO5: Compare applications of cheaper settlement and reconciliation across different industries.
LO6: Recommend feasible solutions to the last mile problem.
Consider the examples included in the casebook as well as examples from your own research. After reflecting on how blockchain technology is used to
cheaply verify attributes, identify your own example of a specific business transaction that could benefit from costless verification. Write a clear and coherent
report in which you address the following questions and points:
• What are the current settlement and reconciliation processes involved in the transaction?
• How could the use of blockchain technology impact the cost of verification of the transaction and its attributes?
• Identify evidence of the last mile problem in the transaction and suggest a potential solution, including suitable complements that may help.
• In your solution to the last mile problem, include points relating to the following three choices from the framework for implementing entrepreneurial
strategy: customers, technology, and competition. For example:
o Will your customers be individuals or other businesses?
o Will your competition be value-chain enhancing or value-chain replacing?
o Will the blockchain technology used be permissioned or permissionless?