Bitcoin & Blockchain: The Future of Money and Business
The blockchain does one thing: It replaces third-party trust with mathematical proof that something happened.
Apr - May 2019
When money (in the form of gold/silver coins) was invented, it revolutionized the world by allowing trade and businesses that were not possible before. The introduction of paper money again changed the world. In the last century, digital accounting, wire transfers, and the internet have done the same. In the next 10-15 years we are set to see another profound change in the way we view and use money, and the way business is conducted because of the use of cryptocurrencies like Bitcoin, and more generally the adoption of the underlying blockchain technology in all aspects of business.
Bitcoin and other cryptocurrencies have garnered a huge amount of interest, hype, and grabbed hundreds of billions of dollars worth of business in the last few years. And yet, cryptocurrency is just the tip of the iceberg as far as this technology, and the underlying ideas are concerned. Given the potential of this technology to permeate every domain of business (similar to what software and internet are currently doing), it is important that the leaders of tomorrow have a deep understanding of the power of blockchains.
To understand how bitcoin and blockchains work, students will study the basic principles of cryptography and public key encryption. To understand why it works, they will learn about the history of money, and the basic economic principles that drive human behavior in the context of money, business, and trading.
Students will develop a deep understanding of money and its role in business and life, by studying the history of money. They will then learn how concepts in cryptography can be used to create purely digital money that doesn’t require coins, notes, banks, or governments. All of this will be introduced through easy-to-grasp examples, and fun games and activities (like code-breaking). Come learn about the future of money and business!