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.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
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
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
IBM (2018). IBM Blockchain Explained V5.13. Blockchain Explained Series.
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
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Participant Role
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Industry
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Revenue
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Adoption
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Production
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Accumulative Investment
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
Planned Investment
Deloitte (2018). Breaking Blockchain Open. Deloitte’s 2018 Global Blockchain Survey (Report).
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
Dettling, Walter. "How to Teach Blockchain in a Business School." In Business Information Systems and Technology 4.0.
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
Dettling, Walter. "How to Teach Blockchain in a Business School." In Business Information Systems and Technology 4.0.
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
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
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
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.
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.
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.
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.
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