Master in Information Technology (Digital Innovation & Management)

In recent years, blockchain technology has significantly attracted the attention of several industries for its potential to disrupt the way in which we currently trade and trust in a globalized world. In brief, a blockchain is a distributed (shared, decentralized) digital ledger. It uses cryptographic algorithms to verify the creation and transfer of digitally represented assets or information over a peer to peer network. An innovative combination of distributed consensus protocols, cryptography, and in-built economic incentives based on game theory is used to govern the network. However, the technology is still in an early stage of development and its general adoption still faces big challenges.

Blockchain, or more precisely Distributed Ledger Technology, has garnered great interest in the economic and governmental community. However, the term is also associated with a hype driven by the large growth of Bitcoin. However, blockchain technology has applications that transcend cryptocurrencies and may impact our society in novel ways and sectors including, but not limited to, healthcare, mobility, banking, energy and government.

In this course we introduce a general overview of this novel technology. We will discuss the technical foundations of blockchain, as well as the economic models, incentives and theories, that are the foundation of blockchain. Depending of the type of blockchain, different governance models are applicable, leading to different blockchain systems. We will reflect on the options provided by blockchain to engineer new markets, will incorporate risk mitigation considerations as well as strategic decision making whether to apply blockchain. Legal and regulatory issues, as well as the role of standards will be discussed, as well as ethical reflections will be given on technological determinism, spillover effects, and societal consequences.