Blockchain technology has become an increasingly common topic in IELTS Writing Task 2 essays, particularly in questions about technological advancement, financial systems, and future societal changes. Based on recent exam trends, this topic has appeared in various forms across test centers in Asia and is likely to remain relevant in future tests.
Analysis of Recent IELTS Questions on Blockchain
One of the most frequently appearing question types regarding blockchain technology is:
Some people believe that blockchain technology will revolutionize how we conduct financial transactions in the future, while others argue it is just another technological trend that will fade away. Discuss both views and give your opinion.
Question Analysis:
- Type: Discussion + Opinion
- Key components: Financial transactions, blockchain technology, future impact
- Task: Discuss both perspectives and provide personal viewpoint
- Focus: Long-term implications of blockchain technology
Model Essay 1 (Band 8.5)
The emergence of blockchain technology has sparked intense debate about its potential to transform financial systems fundamentally. While some view it as a revolutionary force that will reshape how we handle transactions, others dismiss it as a passing trend. I believe that blockchain technology will indeed bring significant changes to financial operations, though its implementation may face certain challenges.
Those who support blockchain’s transformative potential highlight several compelling advantages. Firstly, this technology offers unprecedented transparency and security in financial transactions through its decentralized ledger system, making fraud virtually impossible. For example, major banks in Singapore and South Korea have already implemented blockchain-based payment systems, resulting in faster, more secure international transfers. Additionally, smart contracts enabled by blockchain technology can automate complex financial processes, reducing human error and administrative costs significantly.
However, skeptics present valid concerns about blockchain’s widespread adoption. The primary argument against its revolutionary potential is the considerable energy consumption required for mining cryptocurrencies and maintaining the blockchain network. Furthermore, regulatory uncertainties in many countries and the technical complexity of blockchain systems pose significant barriers to mainstream acceptance.
In my opinion, blockchain technology will ultimately revolutionize financial transactions, despite current limitations. The technology’s core benefits of transparency, security, and efficiency address fundamental problems in existing financial systems. Moreover, ongoing technological improvements are already addressing energy consumption concerns, while governments worldwide are developing regulatory frameworks to accommodate blockchain applications.
Looking ahead, I envision blockchain technology becoming integrated into everyday financial operations, from routine bank transfers to complex international trade settlements. However, this transformation will likely occur gradually rather than suddenly, allowing necessary adaptations in infrastructure and regulations.
Analysis for Band 8.5:
- Clear structure with well-developed paragraphs
- Sophisticated vocabulary and complex sentence structures
- Balanced discussion with specific examples
- Strong coherence and cohesion
- Thoughtful conclusion with future projection
Model Essay 2 (Band 6.5)
Nowadays, many people talk about blockchain technology and its effects on financial transactions. Some people think it will change everything about how we use money, but others don’t believe it will last long. I will discuss both sides and give my opinion.
On the one hand, blockchain technology has some good points. It makes money transfers more safe because everything is recorded in a special way that cannot be changed. Also, it helps people send money faster and with lower fees than traditional banks. Many companies are starting to use this technology because it is better than old systems.
However, there are some problems with blockchain. First, it uses too much electricity, which is bad for the environment. Second, many people don’t understand how it works, so they don’t trust it. Also, some governments don’t have clear rules about using blockchain, which makes it difficult to use everywhere.
I think blockchain technology will become more important in the future. Even though there are problems now, technology usually gets better over time. More people will learn about it and start using it, especially young people who like new technology.
In conclusion, blockchain technology has both advantages and disadvantages. While some problems exist now, I believe they will be solved, and blockchain will become normal for financial transactions in the future.
Analysis for Band 6.5:
- Basic structure present but less sophisticated
- Simple vocabulary and sentence structures
- Limited use of examples
- Basic coherence but less refined linking
- Simpler conclusion without detailed projection
Key Vocabulary for IELTS Writing on Blockchain:
- Decentralized (adj) /diːˈsɛntrəlaɪzd/ – distributed, not controlled by a single entity
- Cryptocurrency (n) /ˈkrɪptəʊˌkʌrənsi/ – digital or virtual currency
- Smart contract (n) /smɑːt ˈkɒntrækt/ – self-executing contract with terms directly written into code
- Ledger (n) /ˈlɛdʒə/ – record of financial transactions
- Implementation (n) /ˌɪmplɪmɛnˈteɪʃən/ – the process of putting a plan into action
- Infrastructure (n) /ˈɪnfrəstrʌktʃə/ – basic systems and services needed for operation
- Regulatory framework (n) /ˈrɛgjʊləˌtɔri ˈfreɪmwɜːk/ – system of regulations and guidelines
- Mainstream adoption (n) /ˈmeɪnstriːm əˈdɒpʃən/ – widespread acceptance and use
Essential vocabulary for discussing blockchain technology in IELTS
For practice, try writing your own essay on this topic and share it in the comments. Consider these alternative questions for practice:
- How might blockchain technology affect employment in the financial sector?
- Should governments embrace or regulate blockchain technology more strictly?
- What are the environmental implications of widespread blockchain adoption?
