What You Should Know about Blockchain Technologysouthernbusinessdeans.org/wp-content/uploads/2018/... · Module 5: Using tokens to design new types of digital platforms Module 6:

What You Should Know about Blockchain Technology

2018 Annual Meeting Southern Business Administration Association

Ghazwan Hassna, Ph.D

Assistant Professor of Information SystemsCollege of Business Administration

Hawaii Pacific University

Bitcoin is NOT Blockchain

• Bitcoin

• Unregulated Decentralized Cryptocurrency

• Use Blockchain as the enabling technology

• First Blockchain Application

• Blockchain (For Business)

• Identity over anonymity

• Selective endorsement over proof of work

• Assets over cryptocurrency

IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.







So what is Blockchain / How does it work

Harvest Portfolios Group (2018). What is Blockchain?

Expected Business Value

Use Cryptography

Use ID & Permission Based

Access

Use Shared Distributed Ledger

Use Smart Contract

Use Consensus Based Transaction

Improve Tracability

Enhance Privacy

Reduce Fraud

Improve Auditability

Increase Autonomous Processing of Transactions

Increase Transparency

Enhance Verifiability

Reduce Oversight

Reduce Central Authority

Verification

Reduce Intermediary

Enhance Regulatory Compliance

Tighten Security

Increase Operational

Efficiency

Increase Effectiveness

Improve Access to Resources

Improve Resources Allocation

Increase Trust

Save Time

Save Cost

Enhance Accountability

Reduce Effort Duplication

Simplify Processes

Means O

bjectives

Fun

dam

ental O

bje

ctives

Hassna, G. (2018). Strategic & Organizational Objectives of Blockchain Technology: Value Focused Approach

What is Blockchain TechnologyReport was published in 2016 but we can see all the

predictions becoming reality

Interesting Business Use Cases




Energy and Renewable Sources

• TenneT, sonnen, Vandebron and IBM are joining forces to develop blockchain for managing the electricity grid in the Netherlands and Germany.

• They are exploring the use of a permissioned blockchain network to integrate flexible capacity supplied by electric cars and household batteries into the electrical grid.

• This innovative technology is the next step in enabling decentralized flexible energy sources to play a role in the management of the electricity.

IBM (2017). TenneT unlocks distributed flexibility via IBM Blockchain

What is the Current State of Blockchain Industry/Market

Deloitte’s 2018 Global Blockchain Survey

Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).

Geography


Participant Role


Industry


Revenue


Adoption


Production


Accumulative Investment


Planned Investment


Hiring

What Does That Mean For Us

The following are some of the careers that are growing with the adoption of blockchain technology:

• Blockchain Developer

• Turns the logic of business networks into chaincode (often referred to as smart contracts) that can make changes to the underlying distributed ledger.

• Blockchain Consultant

• Helps businesses to adopt blockchain technology and build the network of organizations using blockchain applications and solutions.

• Blockchain Architect

• With a strong understanding of enterprise systems Blockchain Architects Enables blockchain technology to be deployed efficiently in the enterprise and to interact appropriately with data and users on other applications.

Teaching & TrainingBlockchain

Faculty and students can study blockchain not just from the perspective of technical or financial

professionals, but from that of business consultants, policymakers and regulators.

Topics to Consider

Business Impact

Bitcoin Cryptocurrencies

Altcoins

Exchange Platforms

Fintech

Legal Issues

General Blockchain

Business Models

Smart Contract

Process Redesign

Security

Dettling, Walter. "How to Teach Blockchain in a Business School." In Business Information Systems and Technology 4.0.

Topics to Consider

Building Blocks

Technology

Platforms

Smart Contract

Wallets

Distributed Ledger

Theoretical Frameworks

and Concepts

Cryptography

Signatures

Distributed Consensus Algorithms

Big Number & Probability


Topics to Consider

Applications

Bitcoin & Cryptocurrencies

Initial Coin Offering

Decentralized Autonomous Organizations

General Business

Supply Chain

Smart Governments

E-Health

Energy & Renewable Sources

Insurance

Food Safety

Internet of Things


How to Teach Blockchain

• Dedicated Blockchain Courses

• Dedicated Blockchain Specific Courses • One course for each knowledge

area

• Projects • One complete project (can be

capston)

• Hybrid Blockchain Courses

• Insert Blockchain Use Cases in other business courses• Example: I have already included

MAERSK Case Study in my IS6005.

• Projects: • One assignment or group project

as part of a course. • Example: Group presentation in my

IS6005

Current State of Blockchain Teaching

• 42% of the top 50 universities in the world offer at least one course on cryptocurrency and blockchain technology.

• Coursera offers a four-course specialization in blockchain.

• Udacity offers a six-month nanodegree for blockchain developers.

• Companies like IBM offer free training materials and online courses

• Other training providers

Fuqua School of Business, Duke University• 5 years of blockchain instruction under its belt,

• Already a stalwart given FinTech's newness as an academic stream.

• Finance 898: Innovation and Cryptoventures

• The course offered requires that students earn the entirety of their grades based on 1) studying a company using blockchain (20%) and 2) entrepreneurial project/ idea they develop for applying blockchain technology (80%).

NYU’s Stern School of Business

• Early adopter, Providing the first major university course devoted to cryptocurrency and blockchain

• Digital Currency, Blockchains and the Future of Financial Services• Joint offering between Stern and NYU Law.

David YermackAlbert Fingerhut Professor

of Finance and Business Transformation, NYU Stern

Max RaskinAdjunct Professor of Law

Geoffrey Parsons MillerStuyvesant P. Comfort

Professor of Law

https://its.law.nyu.edu/facultyprofiles/index.cfm?fuseaction=profile.overview&personid=20547




Haas School of Business, UC Berkeley

• Blockchain, CryptoEconomics, and the Future Directions of Technology, Business, and Law

• Course with three instructors as of spring 2018

• Cross-listed between business, engineering, and law faculties to spark integrated and multi-faceted conversations.

• The course looks at the technology’s potential impact on a range of industries

UCLA Anderson School of Management

• Anderson was also swift to jump aboard the blockchain bandwagon.

• MGMT 298E-01/5: FIN TECH: CRYPTOGRAPHY, BLOCKCHAIN & CONTRACTING

• MGMT X 497.41: Blockchain Business Applications

• Also they have something very interesting which is the

• Blockchain At UCLA Core Education Series - Fall 2018

• https://www.blockchainatucla.com/education/

• Courses taught by the students

https://www.blockchainatucla.com/education/

MIT Sloan School of Management

Orientation Module:

Welcome to Your Online

Campus

Module 1:

An introduction to

blockchain technology

Module 2:

Bitcoin and the curse of the

double-spending problem

Module 3:

Costless verification:

Blockchain technology and

the last mile problem

Module 4:

Bootstrapping network

effects through blockchain

technology and

cryptoeconomics

Module 5:

Using tokens to design new

types of digital platforms

Module 6:

The future of blockchain

technology, AI, and digital

privacy

6 weeks, excluding

orientation

5-8 hours per week,

entirely online

Weekly modules,

flexible learning

Current State of Blockchain Research

Priya Vashishth, Sushant Kumar and Shikhar Sahni (2017). State Of Research In Blockchain In Just 13 Slides. Under IP Analytics, R&D Case Studies GreyB Group.

R&D Hubs – Potential Markets - Total until 2017





What is Our Role as Colleges of Business Administration

Business Schools can serve as hubs where organizations can access information, present problems for student projects, and exchange best

practices in Blockchain development and deployment.

A lot of companies are establishing research projects with established universities to build on the expertise that they have.

Blockchain Center of Excellence

Mission

Our mission is three-fold. We aim to develop and establish research partnerships by conducting collaborative industry-university research, promote and enable dissemination of knowledge about blockchain and cognitive analytics, and accelerate industry adoption of blockchain technology.

Vision

Our vision is to make Walton College a premier academic leader in advocating for and educating on blockchain.

Georgetown University’s McDonough School of Business

• Center for Financial Markets and Policy at Georgetown University’s McDonough School of Business in Washington, D.C. At Georgetown,

• The center has partnerships with the D.C.-based Chamber of Digital Commerce, whose mission is to drive regulatory policy related to blockchain and DLT.

Takeaways

Mission Wise

Industry collaboration to serve the business

community

Establish Think Tanks in collaboration with organizations and business networks seeking to discover blockchain use cases.

Research to generate knowledge

Different Dimensions and Streams of Research

Teaching to educate and prepare graduates

Programs – Courses etc.

Operational WiseOpportunity to Transform

the Industry Transform Higher Education to respond

to the new challenges and trends

1

2

3

Higher Education

Transformation & Blockchain

Blockchain

Single institution

Groups of institutions

National credentials

Global assessment

Badges

MOOC

Continuous Professional

Development (CPD)

Corporate learning

Apprenticeships

Bodies of Knowledge

Donald Clark (2016). 10 ways Blockchain could be used in education. In OEB Insights

“Blockchain will do for transactions what the

internet did for information.” – Ginni Rometty, CEO of IBM

Where do you want your school to be

leader

One of the leaders

Fast Follower

Laggard)

I don’t know

Response From Audience

References • Hassna, G. (2018). Strategic and Organizational Objectives for Adopting Blockchain Technology: Value Focused Thinking.

• Donald Clark (2016). 10 ways Blockchain could be used in education. In OEB Insights.

• Colin Harper (2018). Beyond the Classroom: The Rise of University Blockchain Labs. In Bitcoin Magazine.

• Colin Harper (2018). From Chatroom to Classroom: The Evolution of Blockchain Education. In Bitcoin Magazine.

• Tricia Bisoux (2018). B-Schools Are Building on Blockchain. In BizEd Magazine.

• Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).

• Priya Vashishth, Sushant Kumar and Shikhar Sahni (2017). State Of Research In Blockchain In Just 13 Slides. Under IP Analytics, R&D Case Studies GreyB Group.

• Tom Vander Ark (2018). Early Entrants into The Field Of Teaching Blockchain. In Forbes.

• Nick Storring (2018). The 5 Best US Business Schools For Blockchain Courses. In Business Because.

• Daniel Pianko (2018). What Every College Leader Should Know About Blockchain. In Inside Higher Education.

• Hannah Murphy (2018). Business schools race to offer lessons in Blockchain and bitcoin. In The Financial Times.

• MIT (2018). MIT Sloan Blockchain Technologies: Business Innovation and Application online program.

• Seema Mody (2017). Students at elite business schools bypass Wall Street for Blockchain. In CNBC.

• Don Tapscott (2017). The Blockchain Revolution and Higher Education. In EDUCAUSE Review.

• Kate Rooney (2018). Top MBA programs beef up cryptocurrency courses to keep up with demand. In CNBC.

• Kariappa Bheemaiah (2015). Why Business Schools need to Teach Blockchain. Grenoble Ecole De Management, France.

• Dettling, Walter. "How to Teach Blockchain in a Business School." In Business Information Systems and Technology 4.0, pp. 213-225. Springer, Cham, 2018.

• IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.

• Harvest Portfolios Group (2018). What is Blockchain?

• IBM (2017). TenneT unlocks distributed flexibility via IBM Blockchain

Documents

What You Should Know about Blockchain Technologysouthernbusinessdeans.org/wp-content/uploads/2018/... · Module 5: Using tokens to design new types of digital platforms Module 6: