📋 Written Ability Test (WAT) / Essay Analysis Guide

Can Blockchain Technology Provide Transparency in International Financial Markets?

🌐 Understanding Blockchain’s Importance

Blockchain technology has redefined transparency and trust in financial markets. For B-school candidates, understanding this topic links directly to global economic challenges and opportunities in fintech.

🕒 Effective Planning and Writing

• Time Allocation:
  • Planning: 5 minutes.
  • Writing: 20 minutes.
  • Review: 5 minutes.
• Key Preparation Tips: Focus on recent developments, statistics, and regulatory aspects.

✍️ Introduction Techniques for Essays

• Contrast Approach: “Despite innovations like blockchain promising transparency, financial markets continue to grapple with fraud and inefficiencies.”
• Solution-Based Approach: “Blockchain’s decentralized nature could hold the key to resolving persistent issues in international finance.”
• Timeline Approach: “From Bitcoin’s inception in 2008 to Ethereum’s smart contracts, blockchain technology has consistently evolved to enhance financial transparency.”

📚 Structuring the Essay Body

Achievements

• Topic Sentence: “Blockchain has brought significant advancements in financial transparency.”
• Example: Reduced fraud in trade finance through blockchain-based platforms like we.trade.

Challenges

• Topic Sentence: “Despite its promise, blockchain faces critical implementation barriers.”
• Example: Regulatory uncertainties in cross-border applications.

Future Outlook

• Topic Sentence: “Blockchain’s role in international finance hinges on addressing current gaps.”
• Example: Potential of Central Bank Digital Currencies (CBDCs).

📄 Concluding Effectively

• Balanced Perspective: “While blockchain presents unprecedented opportunities, its potential hinges on overcoming key challenges in scalability and regulation.”
• Global Comparison: “Countries like Estonia and China exemplify blockchain’s potential when paired with robust infrastructure.”

📊 Analyzing Successes and Shortcomings

• Achievements: Enhanced trust, reduced fraud, improved efficiency.
• Challenges: Energy-intensive operations, regulatory barriers.
• Global Context: Blockchain adoption in fintech across Asia and Europe.

✨ Recommendations for Sustainable Progress

• Develop global regulatory standards.
• Invest in energy-efficient blockchain solutions.
• Foster public-private partnerships for scalable solutions.

📝 Sample Short Essays

1. Balanced Perspective

“Blockchain technology is a double-edged sword for international finance, offering unmatched transparency while grappling with scalability and adoption challenges.”

2. Solution-Oriented

“Global regulatory frameworks and advancements like Ethereum 2.0 can unlock blockchain’s full potential in transparent financial systems.”

3. Global Comparison

“While countries like Estonia showcase blockchain’s benefits, its widespread adoption demands robust regulatory and technical solutions.”