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You probably did not know that Drexel University, starting a month ago, boasts a first-rate club that brings together students from different backgrounds based on a common interest: blockchain technology.
Why, you may not know what Exactly the blockchain is. All right. Drexel Blockchain aims to research, educate, communicate and consult this digital phenomenon in such a way as to raise Drexel and help the founders of the student club to leave a lasting legacy.
Here are 10 things about Drexel Blockchain – or blockchain itself – that you probably did not know before:
1. Drexel Blockchain is a group of students of different ages and backgrounds (not just computer nerds).
"Trust is in the community, and that's how Drexel Blockchain works," said co-founder Adit Gupta, a fifth-year engineering and mathematics student. "It is very guided by the community".
After passing the club's start-up phase with some events behind it, Drexel Blockchain is trying to expand in all areas, from the technical department to human resources.
I do not even know what the blockchain is? No problem.
"We do not address it to a specific audience in terms of starting to speak at a meeting and nobody understands it," said Dean Blank, co-founder for the club and a student in finance and IT. "We make sure everyone is on the same page at the beginning because there may be people we do not know much about [blockchain]. We try to make everyone feel comfortable and make the club more inclusive in this way ".
2. Blockchain is more than just a word of order.
For the record, blockchain is "an open and distributed register that can record transactions between two parties efficiently and in a verifiable and permanent way", according to This Harvard Business Review article.
According to the founders of Drexel Blockchain, it is a technology that is losing its reputation because it is used more for its effectiveness than its true principle.
Marius Garbea, a co-founder of the club and second-year computer science and mathematics student, said many companies are trying to build around the blockchain "just to ride the wave".
"There are some use cases where blockchain is really good and it makes sense to use it, but there are others where it makes no sense," he said. "For example, I recently saw a barber who uses blockchain." How, what's the point of this? "There's no reason someone else would want to know when you have an appointment with the barber."
3. Blockchain technology is useful for more than just cryptocurrency.
Rather than with the local barber, blockchain is more easily associated with its use in cryptocurrency – in particular, with bitcoin, for which it was created.
That said, it is not the only use case for technology, according to Drexel Blockchain members.
"There are many projects out there, such as in the health sector where you can prevent large amounts of data loss and hacking, and other projects in supply chain management where things can be much more efficient," said Gupta. "People are thinking outside the box and are trying to use blockchain for applications other than cryptocurrency."
In this sense, some members of the club founded the VyB app, an online evaluation platform that would consolidate websites like Yelp and Foursquare, making real-time, measurable and social reviews and use blockchain technology to make fake or solicited reviews a thing of the past.
"Embed blockchain as a basic database feature because Vyb provides verified and reliable feedback," said Gupta. "This is one of the value propositions of the blockchain itself – it is verified and is reliable".
4. Blockchain could revolutionize the business.
The stopgap for blockchain applied to countless fields of activity is a lack of understanding, said the members of Drexel Blockchain, and that is exactly what they are trying to neutralize.
"I think it will be a case in which it will draw on almost every sector," said Tom Falzani, Drexel Blockchain committee director and third-year software design and engineering student. "The consumer will not really know how to use it, but it will still be present, a bit like most software today. … This technology will make the whole experience a lot easier for the company and the consumer. "
For Blank, blockchain has already become a hot topic of conversation in co-op, specifically for him in the financial sector.
"I started making many banks and financial institutions are investing a lot in this technology," he said of his first cooperative experience with BlackRock. "I knew it was associated with cryptocurrencies, but the reason I was really interested in it was because of the other implications … Ultimately, I can see it being used in the financial sector because that's what interests me and that's where I see it particularly growing.
5. Learning to Blockchain could give you a professional advantage.
Just as Blank has helped in co-op, it is clear that a knowledge of the blockchain could be a necessary skill for many professionals, and in many areas, in the future.
"I think it gives me a different perspective and I can see how people on the business side might find it useful to understand the blockchain," Blank said.
Not only is knowledge useful, but the club is also working to put its members in contact with professionals in the Philadelphia area – connections that could not hurt even for future job searches.
"The opportunities are endless, really, with this club," said Blank.
6. Drexel Blockchain has both university and industrial connections.
Drexel Blockchain already has a solid list of university advisors and industry advocates with broad plans to expand this scope.
Current consultants include: Chuck Sacco, vice principal of the Charles D. Close School of Entrepreneurship; Amy Campbell, assistant to the Coulter Program director for the Coulter-Drexel Translational Research Partnership Program at the School of Biomedical Engineering, Science and Health Systems; and Jeff Salvage, a university professor in the College of Computing & Informatics.
Campbell met Gupta in a class at Drexel and was thrilled to support the club's establishment and growth since its inception.
"I have always been very active in student groups and when he arrived and brought this [idea] I liked it, "Yes, let's do it!" "Remember Campbell.
Gupta said the club plans to have at least one consultant for each Drexel college. Microsoft is also acting as an official partner of the club, providing gift cards, sponsored food and other monetary and programming media.
7. Participating in Drexel Blockchain could help you flex the muscles of your counseling.
Ultimately, Drexel Blockchain's goal, according to Gupta, is to operate as a startup group. This includes providing consultancy services to Center City companies and beyond – and gives students the opportunity to learn these consulting skills through direct experience.
"We are trying to consult with Philadelphia companies because, as a group, we have the technical knowledge that managers and other people in companies do not have," said Gupta.
These skills will be useful as many people end up being consultants in their lives at some time or another, added Gupta.
8. Drexel Blockchain is already creating a local network of blockchain enthusiasts.
Unlike the other Drexel clubs, Drexel Blockchain is also making connections to other fans in nearby universities, including Penn Blockchain.
"It's that kind of close-knit community for blockchain we've become part of in Drexel," Gupta said. "People in the temple are already starting to emulate the club we have in Drexel and are trying to create one of their own."
Because of its connection, members of Drexel Blockchain have access to exclusive Penn events related to the topic.
9. Drexel Blockchain has great plans (and events) for the future.
Drexel Blockchain has big plans for its events, already in the next period. In March 2019, the club is planning "the biggest blockchain conference in the history of Drexel", according to members.
"The difference between a small laboratory like the one we have now hosted with five managers and a conference is just duration and organization," said Gupta.
The group is ready to put the job, and rely on their consultants and partners – as well as their past mistakes – to make it a success.
"We made a lot of mistakes in this period because we did not have an idea, because it's the first time we start a new club," said Gupta, "but at the next deadline we'll know how to solve them."
Although they have big plans for the future, the current leaders of Drexel's Blockchain know that they can not do it without more students, curious and dedicated like them.
"Whether it's engineering or graphic design, whatever your interest is, there's an aspect or an area in the club where you can get involved," Blank said. "I think it makes it unique."
"We are talking about this fantastic technology that people might not get, but we are very open to people who may not know about technology and beginners, not just people who are interested in blockchain in particular, but if you want to know more", Ha added Falzani.
All in all, the leaders of Drexel Blockchain are thrilled to expand the club and, in turn, leave a legacy – especially for current seniors like Gupta.
"It really makes us realize that we've created something that will last. … There's no other way to literally leave a part of you as a founder on campus," he said.
If you are interested in learning more about Drexel Blockchain or attending an upcoming event, contact [email protected].
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