As Singapore moves towards becoming a Smart Nation, there are many new and emerging technologies that impacts people’s life. Blockchain is one example of such technology. Blockchain is the by product of the invention of Bitcoin. It is the brainchild of a person or group of people known by the pseudonym of Satoshi Nakamoto. Blockchain is a distributed digital ledger that records all transactions made in cryptocurrencies chronologically, publicly and permanently. Defined by Don & Alex Tapscott, authors of Blockchain Revolution, blockchain is an incorruptible digital ledger that records not just financial transaction but virtually everything of value.
The Blockchain Innovation Strategy Programme is a 3-day masterclass conducted from the 26th to 28th September 2018 that introduces the concept of Blockchain Technology and its current and potential functions and industry application. Co-developed by NTU’s College of Engineering (COE) and Nanyang Technopreneurship Center (NTC), it garnered a total of 58 participants. The class consists of 6 modules of interactive lectures, workshops and panel discussion conducted by the industry’s prominent educators, innovators and investors.
The first module by Professor Liu Yang, Associate Professor with COE, introduces the participants to the elements of a distributed ledger and explores the history of Blockchain and Bitcoin, and its security and case studies examples of Blockchain Platforms.
The second module by Dr. Sourav Sen Gupta Ph.D., Lecturer of School of Computer Science and Engineering (SCSE) provide the participants with a deconstructed explanation of Blockchain into its three-core abstraction – the distributed publicly-verifiable ledger, the network of consensus-based computing and the decentralized incentive-driven community.
Professor Dusit Niyato, Associate Professor of SCSE, focus on the transformation of business with the use of Blockchain Technology by providing the participants with a review of the various industries that can be disrupted by Blockchain. He uses case studies and research studies to explain the application and transformational potential of Blockchain Technology.
Participants was also introduced to the risk and threats posed by bitcoin and cryptocurrencies through the module of Blockchain Governance conducted by Dr. Pei Sai Fan, Professor, Mentor and a FinTech Investor. He covered the legal and regulatory framework of Blockchain Technology in Singapore and Global perspective to provide the participants with a well-rounded understanding of the principles and challenges of Blockchain governance.
Mr. Richard Siaw, Director of R.S. Solomon LLC also provided the participants with an understanding Blockchain Technology in relation to the legal system. He covered the topics of legal issues that Blockchain Technology poses, the jurisdiction and applicable law related to Blockchain.
The participants were able to gain knowledge through the guidance of academia and industrial experts present at the masterclass. By the final two modules, participants were able to develop their own Blockchain enterprise strategy with the help of experts and also come to an understanding of how the Blockchain Technology have affected the real world and its potential in the current technologically advanced world.