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Elements and Performance Criteria

1. Determine distributed ledger technology (DLT) application suitability
   • Identify purpose and benefit of industry standard DLT applications according to business needs
   • Identify business processes and transaction types suitable for DLT application
   • Identify business use-case according to business needs
   • Determine consensus mechanism and protocols according to business needs
   • Identify required DLT service provider platform according to business needs
2. Set up DLT application
   • Document DLT requirements and submit to required personnel
   • Initiate account according to vendor specifications and business needs
   • Generate required accounts according to vendor specifications
   • Create and save genesis block
   • Initiate required instance according to vendor specifications
   • Test DLT solution against business needs
   • Document and confirm DLT meets business needs
3. Use distributed ledger application
   • Initiate required transaction from application
   • Confirm transaction completion with required personnel
   • Document back-end technical transaction process
   • Obtain final task sign off from required personnel

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

set up and use at least one distributed ledger application to an organisational process.

In the course of the above, the candidate must:

research business model and determine required distributed ledger application

comply with blockchain best practices and guidelines.

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Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

business models, processes and transaction types

consensus mechanisms and protocols

underlying distributed ledger technology functions and uses including:

blockchain principles, best practices and guidelines

cryptography

immutable database rules

transactional components

industry standard functions and uses of distributed ledger applications, service provider platforms and their general capabilities

industry standard uses for applications

documentation techniques applicable to documenting DLT requirements

research procedures and techniques used for determining DLT requirements.

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