Blockchain: Understanding Its Uses and Implications

About

Blockchain technology is changing how businesses operate. With trust built into blockchain solutions, it is important to understand how this new technology is different and how it works in comparison with technologies of the past.

First, we cover the main concepts of what blockchain is and some of its major characteristics. We take you through the important players in this diverse community. We discuss how it began, first introduced for the administration of the Bitcoin cryptocurrency, and how it is now applied to all aspects of business including government, banking, supply chains, and other industries.

Next, we analyze the mechanics of blockchains and how they work. We will cover the concept of transparent ledgers, public and permissioned, and focus on using cryptography to achieve consensus, immutability, and transparency. This is all part of blockchain's ability to provide "trusted data from untrusted sources", disrupting traditional accounting methodologies and international trade.

We will cover some of the functions of blockchain. You will discover the power of the smart contract, the building blocks for transactions on the blockchain. You will gain an understanding of the different blockchain structures and how start up decisions influence how your blockchain deals with security, identity, consensus, and governance.

We then dive into the various methods of blockchain governance. You will understand how different governance models dictate how your blockchain operates, and gain insight into consortiums and how this transformative technology is creating new avenues of communication.

Next, we examine the problems blockchain solves that have been difficult to overcome in the past with more centralized architectures, discovering how blockchain tackles the double spend issue, creates autonomy and transparency while facilitating innovative ways for multiple parties to interact. You will then discover the new and creative ways blockchain is changing the future. New insights and models dealing with Identity will be explored. You will look at trends in Decentralized Finance, NFT (non-fungible tokens), CBDC (central bank digital currencies) and how the push for interoperability between blockchains is becoming increasingly important.

Finally, we take a deep dive into the various use cases of blockchain, complete with analyzing real examples of how different industries are executing the technology and opening up new avenues for improving their businesses.

What you will learn

• Discuss blockchain technologies.

• Understand why Blockchain is a transformative technology with potential for change around the world.

• Understand how blockchain is solving problems that were difficult in the past.

• Discuss blockchain use cases in production today.

Skills you learn

• International Trade
• Influencing Skills
• Cryptocurrency
• Bitcoin
• Innovation
• Interoperability
• Mechanics
• Governance
• Ledgers (Accounting)
• Cryptography
• Blockchain
• Digital Currency
• Smart Contracts
• Immutability
• Supply Chain
• Decentralized Finance (DeFi)
• Accounting
• Non-Fungible Tokens (NFT)

Syllabus

Welcome & Introduction

Chapter 1. Introduction to Blockchain

Chapter 2. Blockchain Mechanics

Chapter 3. Blockchain Functions

Chapter 4. Blockchains and Governance

Chapter 5. Blockchain Problem Solving and Future Trends

Chapter 6. Blochain use Cases

Final Exam

Auto Summary

Embark on a comprehensive journey into the revolutionary world of blockchain technology with "Blockchain: Understanding Its Uses and Implications." This foundational course, offered by edX, delves into the transformative potential of blockchain within the IT and Computer Science domain. Guided by expert instructors, you'll begin by exploring the fundamental concepts of blockchain, tracing its origins from Bitcoin to its widespread applications across various industries such as government, banking, and supply chains. The course covers crucial aspects like transparent ledgers, cryptography, smart contracts, and the diverse structures of blockchain, emphasizing how these components contribute to achieving consensus, immutability, and transparency. Throughout the 133-hour duration, you'll gain insights into blockchain governance models, the challenges it addresses, and its innovative solutions, such as tackling the double spend issue and enhancing autonomy and transparency. You'll also explore emerging trends in Decentralized Finance, NFTs, and Central Bank Digital Currencies, alongside the growing importance of interoperability between blockchains. Designed for professionals seeking to understand the disruptive power of blockchain, this course offers a professional subscription plan to ensure you have access to all the necessary resources to master the subject. Whether you're aiming to implement blockchain solutions in your organization or simply want to stay ahead in the tech world, this course is your gateway to comprehending and leveraging blockchain technology effectively.