Blockchain Technologies: Business Innovation and Application
This online program draws on the work of leading MIT faculty and cryptoeconomics expert, Professor Christian Catalini, to examine blockchain technology from an economic perspective. You’ll be offered a foundational overview of how blockchain technology works, in order to demystify the technology and to understand its possibilities and limitations. Over the course of six weeks, you’ll be guided to understand blockchain technology beyond the fundamentals, and to appreciate its application and promise in the context of your own organization.
Blockchain technology has the potential to fundamentally change the way business is conducted, and to transform the foundations of our economic and social systems. Despite its far-reaching potential, there remains a level of uncertainty around blockchain technology and the breadth of its application as an economic catalyst. This program draws on economic theory to offer participants a deep and practical understanding of blockchain technology, and to effectively demonstrate its meaningful capacity for innovation and efficiency in business. Blockchain Technologies: Business Innovation and Application explores parallels between blockchain technology and other general purpose technologies, highlighting its capacity to enable widespread, transformational change. You’ll examine how blockchain technology can cheaply verify, under certain conditions, the attributes of a transaction. You’ll gain a deeper understanding of the cost of networking, and learn how blockchain technology can bootstrap and facilitate a marketplace without traditional intermediaries. Using an engaging mix of resources, you’ll be guided to explore the effects of blockchain technology on market power in digital platforms, privacy, and trust. The program looks toward the future of blockchain technology, exploring its longer-term implications for business and its relationship with other emerging technologies, including AI and IoT. You’ll be offered the opportunity to apply your learnings to your own context, walking away with a proposal for a blockchain-based solution to a problem within your current or future organization.
Upon completion of this program, you will be able to:
- Examine blockchain technology through an economic lens
- Discover the possibilities and limitations of blockchain technology, and evaluate its long-term implications for your business
- Develop a sound understanding of two key costs significantly lowered by blockchain technology: the cost of verification and the cost of networking
- Propose a blockchain-based solution to address a business problem within your own context
The following modules contribute to the holistic approach your learning path takes:
ORIENTATION: WELCOME TO YOUR ONLINE CAMPUS (ONE WEEK)
- You’ll be welcomed with a personal call and get introduced to your online teaching and technical support network. Begin connecting with fellow participants while exploring the navigation and tools of your Online Campus. Be alerted to key milestones in the learning path, and review the completion requirements for this program.
- You’ll be required to complete your participant profile and confirm your certificate delivery address.
MODULE 1: AN INTRODUCTION TO BLOCKCHAIN TECHNOLOGY
- Learn how to think about problems that may require a blockchain by dispelling some common misconceptions about the technology and comparing it to other general purpose technologies.
MODULE 2: BITCOIN AND THE CURSE OF THE DOUBLE-SPENDING PROBLEM
- Evaluate Bitcoin as a specific application of blockchain technology that solves a meaningful problem. Analyze this cryptocurrency as a store of value, medium of exchange, and unit of account.
MODULE 3: COSTLESS VERIFICATION: BLOCKCHAIN TECHNOLOGY AND THE LAST MILE PROBLEM
- Discover how blockchain technology lowers the cost of verification. Consider how blockchain and suitable, complementary technology can be used to solve the last mile problem.
MODULE 4: BOOTSTRAPPING NETWORK EFFECTS THROUGH BLOCKCHAIN TECHNOLOGY AND CRYPTOECONOMICS
- Learn about how blockchain technology reduces the cost of networking. Recognize the implications this has for market structure and how it changes the nature of intermediation.
MODULE 5: USING TOKENS TO DESIGN NEW TYPES OF DIGITAL PLATFORMS
- Discover how businesses have been using tokens and cryptoassets to raise funding and launch new types of digital platforms.
MODULE 6: THE FUTURE OF BLOCKCHAIN TECHNOLOGY, AI, AND DIGITAL PRIVACY
- Consider how blockchain technology may interact with broader changes in digital platforms, AI, and IoT. Explore the implications of blockchain technology for digital privacy.
Who should attend
This program is designed for professionals seeking a deeper knowledge of the impact and applications of blockchain technologies in an economic environment. Whether you’re an entrepreneur looking to integrate blockchain into your business plan, or you’re in an industry such as retail or finance and wanting to understand the current and future developments of this new technology, this program will be relevant to you. If you’re working directly within the strategic, operational, or managerial function, this program will equip you with the knowledge necessary to discover opportunities for efficiency and innovation using blockchain technology.