Leveraging FinTech and Digital Ecosystem: Case Study

Question 1 (10 marks)

Mordekaiser Bank has recently experienced a cyber-attack that resulted in the loss of confidential customer data. The bank is now re-evaluating its cybersecurity measures and considering implementing blockchain technology to enhance security. Critically evaluate the potential benefits and challenges of using blockchain technology for cybersecurity in the case of Mordekaiser Bank. Your response should be in the range of 300 to 400 words and should include recent and relevant references (references not included in word count).

QUESTION 2 (15 marks)

You are working for Hakuna Matata, a FinTech start-up company that offers a cryptocurrency trading platform. The platform allows users to trade (buy and sell) a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. However, there have been concerns raised about the potential ethical considerations and lack of regulatory oversight in the cryptocurrency market.

1. What ethical considerations should Hakuna Matata take into account? As the manager, what would you suggest to the directors of Hakuna Matata to ensure that their cryptocurrency trading platform is fair, transparent, and secure for users?
2. Cntically evaluate the roles of Australian regulators in promoting ethical practices in the cryptocurrency market? Your response should be in the range of 400 to 500 words and should include recent and relevant references to support your arguments (references not included in word count)

QUESTION 3(15 marks)

A financial institution, Matrix has implemented Matrixbot, a customer service chatbot powered by machine learning and artificial intelligence (Al) to improve response times and provide personalised support to their customers. However, some customers have raised concems about the security of their data, as well as the potential biases and ethical issues in Matrixbot's responses. As a result, Matrix has seen a loss of trust from some customers. As a recent FinTech graduate, advise the directors of Matrix:

1. How can Matrix address customers' perceived security concerns regarding Al and machine leaming and their data?
2. How can the financial institution ensure transparency and accountability in Matrixbot's responses, such as by communicating how it operates, how it makes decisions, and how it is ensuring unbiased and ethical responses?

Please provide a 400-500 word response with recent and relevant references to support your answer (references not included in word count).

ADDITIONAL INFORMATION

1. Due date- The deadline for this assignment is 4pm on the 5th June 2023. You may submit before that date. In the absence of an extension (using the tool in Canvas), a late submission penalty of 5% of the total marks possible for every 24 hours period (or part thereof) after the submission due date/time applies, up until the return date of the assignment.
2. Submission - Please submit a single Word file of your assignment by uploading a copy to Assignment link via Canvas by the due date.
3. Presentation - Your assignment should be presented in size 11 Arial font and double line spacing. All pages must be numbered.
4. Word limit This assignment has an overall word limit of 1,500 words, with - suggested word count for each question. The suggested word count refers to the main body of your answer to each question, and does not include the reference list. You are advised to check carefully as any work more than 1500 words will not be marked.
5. Academic integrity-Please be aware that you MUST abide by the University policy on academic integrity. For details on academic integrity for students, please refer to:
   https://www.flinders.edu.au/academicintegrity/student.cfm. Especially note that collusion, which is collaborating with another person to prepare answers for an individual assignment, is a breach of academic integrity. ALL work submitted must be your OWN. While discussing problems with other students is encouraged as a useful way to enhance your understanding of a topic, you should discuss lecture, textbook, and workshop activities for this purpose, NOT your assignment question.
6. Referencing-You are required to submit an original work of your own. To avoid plagiarism, you are required to provide a reference whenever you include information from other sources in your assignment. This topic uses the Harvard Referencing system. More information here: https://students flinders.edu.au/support/siss/online-quides/referencing-resources
7. Authenticating your coursework You must be able to demonstrate that the assignment you submit for assessment is your own. You must therefore keep all working documents (electronic and paper) that you used or created while preparing the assignment, such as photocopies of sources and internet pages, your notes on importantly, it would help if you keep the early developing drafts of your coursework as evidence of the originality of your work by saving each revision to a file with a different name. As a good practice, it is advisable that this material be kept for one month after the grades have been published.
8. Feedback-We aim to provide brief written feedback on your assignment. You can request a discussion of this feedback from the topic coordinator if you need help understanding your grade or how you can improve this kind of work in the future.