MGMT E-5408 Breakthrough Innovation with Blockchain Technology
Breakthrough innovation that fundamentally transforms society, business, and government is enabled by a general purpose technology that disrupts/transforms industries, societies, and daily life. Technologies that have historically created breakthrough innovation include the steam engine, electricity, the internal combustion engine, and information technology (including computers and the internet). These technologies were responsible for transforming the world from an agricultural economy to the industrial economy to the information economy. Blockchain is the next general purpose technology that will yield breakthrough innovation and transform the information economy to the value economy. Blockchain's best known current application is Bitcoin, a digital currency introduced in 2008. On May 22, 2010, two pizzas were purchased for 10,000 Bitcoins. On May 30, 2018, one Bitcoin was valued at $7,402 and Bitcoin's market cap was $125 billion. This course focuses on understanding blockchain technology and its future potential in five economic sectors. We examine the ways in which blockchain creates breakthrough innovations addressing some of the largest problems in these economic sectors. We explore the role of blockchain technology in promoting fundamental values like human rights, transparency, democracy, and fair trade. We examine use cases like the role of blockchain technology in eliminating blood diamonds from the diamond supply chain. Students complete a project applying blockchain technology to solve a problem in an economic sector they select or to create a new venture that produces breakthrough innovation. Students also gain deeper insights into the general purpose technologies shaping the twenty-first century.