At its most basic level, a "Blockchain" acts as an irrenounceable and irreversible deposit of transactions. Probably one of the most influential and revolutionary developments of the century, Blockchain technology has the potential to transform the way transactions and exchanges occur in many different sectors and sectors.
Today we are witnessing the first applications of this technology without limits: those involved in the exchange of cryptocurrencies rely on a Blockchain to document and archive every transaction that occurs. However, it will not be long before many other industries begin to exploit the blockchain's futuristic tracking capabilities: transportation, health care, supply chain management and agriculture are just a few examples. And with the excitement surrounding the potential of Blockchain technology that continues to build worldwide, Willamette University Office of Advancement and Willamette MBA hosted an event to allow members of the Willamette community to participate in the conversation.
On 7 November, Willamette MBA alumni Neil Bergquist (CLA & # 39; 09, MBA & # 39; 10) and Nathan Love (CLA & # 39; 05, MBA & # 39; 06) returned from their alma mater to talk with the Willamette community about the various cases of use of a Blockchain. Over 200 members of the Willamette community participated in the sold-out event, "Blockchain: The Revolution Extends Beyond Cryptocurrency". Bergquist is co-founder and CEO of CoinMe, a financial advisory company that provides services to cryptocurrency users and Love acts as the Head of Crypto consulting services.
Willamette University's Cat Cavern evening began with a networking session that gave attendees the opportunity to speak with experts and professionals in the Blockchain world. The formal part of the event was then initiated by Bergquist, who provided an illuminating presentation on the most common use case of the Blockchain technology, cryptocurrency. Compared to a centralized form of money, like the US dollar, cryptocurrency offers greater security and sustainability, he explained.
After the audience was rewarded with this information, several panelists joined Bergquist for a deeper dive into the complexities and unknowns of Blockchain technology. Included speakers: J.R. Willett, the inventor of the Initial Coin Offering (ICO); Jameson Watts, Willamette MBA Assistant Professor of Marketing; Robert Walker, Willamette MBA Associate Professor of Quantitative Methods; Don Negri, Willamette CLA Professor of Economics; and Jason Gershenson (JD & # 39;), lawyer at White Summers Caffee & James (New York).
Moderated by Love, each participant shared their experience and commitment with the Blockchain technology, as well as their opinions and expectations regarding their potential, both in the case of cryptocurrency and in cases of wider use. Each of these topics served as a new platform for debate among speakers, as they hypothesized what the future of Blockchain holds.
Supporters of this emerging technology, including Bergquist, Watts and Willett, have described the most important characteristics of a Blockchain from their point of view: it can serve as a decentralized repository of information and a secure deposit of value where there is a guarantee of complete transparency. They explained how Blockchain technology can be useful in any situation where there is a combination of trust between the parties and high transaction costs, making the list of potential cases of substantially infinite use.
Negri expressed considerable skepticism while addressing each of these questions in turn. With his background in economics, Professor Negri explained that the cryptocurrency must be considered as currently being treated: as a resource rather than as a medium of exchange. He then described the flaws he sees with Blockchain technology in a broader sense, including its irreversibility in the case of a wrong transaction and its limited supply.
Participants were also asked to describe how they feel this disruptive innovation could have an impact on Willamette's future graduates when they enter the world of work. The objective vision presented by Walker was that the Blockchain technology has the potential to increase the speed of everything. Gershenson, who worked alongside Walker as a neutral member of the group, added that the emergence of Blockchain technology in various sectors is likely to immediately affect those working in the legal sector and in the software industry, explaining the cross -industrial and intersectoral commitments of people in both these professions.
After listening to the panel, members of the public were invited to ask questions and were also welcome to engage in further conversations with panelists following the event. A stimulating and stimulating evening for everyone present, CoinMe's founders and speakers have left the Willamette community with food for thought about the future of Blockchain technology.
Only a Willamette MBA, students get this kind of early exposure to such advanced concepts. And at Atkinson, conversations on this topic will continue only when they are integrated with lessons and discussions in the classroom. Debra Ringold, Dean at the time of Bergquist's graduation and current AGSM faculty member, assessed the significance of this event for the entire Willamette community:
"I am very proud of these talented and talented graduates, both of whom demonstrate the thoughtful risk-taking that we encourage at the MBA Willamette.They are far-sighted and their work is effectively changing the world for the better.And all this, they are really nice people."
To see the event: