Business Schools Eager to Teach About Blockchain and Bitcoin
After the recent crypto boom, business schools are eager to launch courses to teach digital currencies and blockchain. But, it’s unclear to expect anything from the courses. The question arises- is it even necessary to educate about the crypto space? One should know that experts have demanded to educate students about the latest phenomena in the field of technology. Moreover, the burst on interest in bitcoin has forced educational institutions to rethink the inclusion of tuitions for virtual coins.
It currently seems like the right moment to educate about the new relationship between finance and technology which has entered the mainstream with a bang. Not only banks and governments are trying to understand the ins and outs of its development, but industry sectors like logistics and mining are also interested in understanding its framework.
Professor of finance and business transformation at the New York University Stern School of Business, David Yermack, said, “This is moving much faster than people expected. Business schools will have no choice but to update curriculums.” He informed that the university included education for blockchain and virtual currencies in its MBA program in 2014 and more than double the number of students have enrolled for the course this year. Yermack added, “We moved to the biggest auditorium in the school, so we would not have any limits. The growth is exponential.’’
Program director at the University of Amsterdam Business School, Jens Martin, said that rise in prices of bitcoin had made general public interested in it. The university provides tuition for crypto and blockchain technologies through its masters in international finance.
Similarly, Robert Wardrop, director, and co-founder of the Cambridge Centre for Alternative Finance stated that not only people from finance but from numerous sectors of the economy are trying to cash in the crypto boom. Thus, the demand for professionals to tackle with the technology is also emerging in Top companies like Google, Amazon, and Microsoft. Wardrop said that “The core focus of interest is growing from non-financial firms. These insights] are essential to related projects that these businesses are working on.”
On the other hand, a professor of information systems and innovation at the London School of Economics, Lee Carsten was skeptical as he thinks that the technology has not matured enough to be taught in schools. But one needs help in understanding advanced mathematics and complex statistics of finance. This sense of helplessness to understand the fundamentals of the system has paved the way for bitcoin professionals.
Additionally, it should be noticed that universities will have a hard time making pace with a briskly developing technology. Moreover, the reputed educational players are bureaucratic plus political and will take time to adjust with a wild crypto space.
The crypto space is also gearing up to take new regulations from the SEC which is intent on taming the users and exchanges due to various instances of fraud and tax evasion. It currently looks like that few individuals will be honored with the tag of crypto professional but won’t be able to make much difference in the ever-evolving sphere.