Blockchain Economics (Autumn 2024)

Abstract

The goal of the course is to address current and future potentials of blockchain-based technologies for a range of (inter-)organizational purposes in a digital economy.

Description

Blockchain economic systems are still in their infancy but receive a dramatic increase in industrial and academic interest. Start-ups, as well as industry initiatives, are working intensely on blockchain-based innovations, making the technology one of the most promising drivers of innovation in many sectors and industries. However, the design and implementation of blockchain-based systems requires know-how in various areas, as well as mindful consideration of larger economic and societal issues.

Students will be able to understand, analyze and reflect on the potentials and limits of blockchain technologies for a range of (inter-)organizational purposes.

This course focuses on technological and economic foundations of blockchain economics, as well as complex systems theories, market engineering, strategies and governance of distributed systems, and network effects. Moreover, economic benefits of standards for new types of sharing economies and the Internet of Things will be discussed. A critical reflection of digital determinism as well legal implications will be included as well.

Formal prerequisites

This course constitutes the second part of the specialization in Digital Economics, however, the course is open for ITU students and guest students that have not participated in the first part of the specialization, Service Economics.

For the students that have not been enrolled in Service Economics, it is recommended to have a basic knowledge of service-dominant logic and strategic business IT alignment. Recommended articles on these topic are:

Vargo, Stephen L., Lusch, Robert F. (2008), From goods to service(s): Divergences and convergences of logics, Industrial Marketing Management, 37 (3) , pp. 254-259

Henderson, J.C.; Venkatraman, N. (1993): Strategic Alignment: Leveraging Information Technology for Transforming Organizations, IBM Systems Journal, Vol. 38, No. 2/3, pp. 472-484

Intended learning outcomes

After the course, the student should be able to:

• Reflect on the relationship between fading enterprises boundaries, transaction cost economics, IT governance, as well as standardization, and apply it in the context of blockchain.
• Explain the role of incentive mechanisms and economic theories for the successful implementation of a blockchain economy.
• Describe and discuss your personal role as an innovative business manager and accompanying chances and risks in a globalized blockchain economy.
• Reflect on the technological foundations of blockchain systems and critically analyze different blockchain implementations.
• Analyze, compare and interpret critically blockchain literature and apply theories and methods to blockchain projects.

Ordinary exam

Exam type:
D: Submission of written work with following oral, External (7-point scale)
Exam variation:
D1G: Submission for groups with following oral exam based on the submission. Shared responsibility for the report.