This course covers recent developments in the area of financial innovation (FINTECH), such as Blockchain, digital currencies, peer-to-peer method of identifying ownership, and smart contracts. Its goal is to analyze the emergence of Blockchain and related innovations as highly disruptive technologies for the financial industry, business laws, accounting and monetary economics (central banking).
To fully understand the implications of such technologies, we will cover various related topics such as the nature of money, legacy payment and banking, basics of crypto technology, digital currency systems, peer-to-peer transactions, governance and regulation of emerging technologies, double entry bookkeeping, and financial exchanges. We will also focus on several digital currencies, their “intrinsic value,” the reasons for their recent popularity, and the microstructure of their trading. Finally, we will survey various ventures that begun to capitalize on these innovations.
To enhance students’ understanding of the most recent and most promising financial innovations that will change the nature of the professional jobs that would be available in the future for students majoring in finance, accounting, and other business areas. The course also intends to create a bridge between business, law, and computer science. Students majoring in these areas would be equipped with a basic knowledge in each other’s fields, which should enhance the quality of their communications after entry into their corresponding careers.
|Efter avlagd kurs kan du
• describe the nature of Blockchain technology
• discuss the FINTECH applications currently being explored for a wide variety of uses and functions
• examine why peer-to-peer method of identifying ownership and network based bookkeeping creates a form of trust
• analyze the reasons behind the popularity of stateless digital currencies and discuss their implications for the future of the monetary policy set by a country’s central bank
• apprehend the regulatory and governance challenges facing corporations, central banks, trading exchanges, and various government institutions dealing with this disruptive technology
• illustrate how various corporations and banks try to co-opt the Blockchain technology into their existing business models
• describe how the Initial Currency Offerings (ICOs) work and discuss why recently they became a popular form of external financing for some firms
Passing a mandatory Introductory Qualification Test is required to make sure that the students have a basic understanding of the related academic fields.
It is expected that participating students have some basic knowledge of computer technologies, financial institutions, accounting, and business law. As such, the course is more suitable for master students and some exceptional senior level undergraduates.