In 1992 internet revolution took over the world. Communication between individuals and companies became faster and easier with email systems, online transaction and digital presence. Information sharing worked on the COPY principle. Whenever an information was sent, it was the copy of the information which was delivered and hence at any given time there existed multiple copies of information. When it comes to money transaction we cannot send AED100 to someone but also keep it. This leads to something we call as double spent. The early digital currency like E-gold suffered this short coming and hence in 2008 the first digital currency was launched using a platform called blockchain. Block chain uses hard to break cryptography and will revolutionize the way we transfer value. This platform will reduce the inefficiency in the transaction systems and provide economic inclusiveness for everyone. The shared economy concept brought in by likes of Careem and Airbnb are still centeralized. The distributed ledger technology(DLT) of block chain will eliminate the intermediaries and provide direct benefit to the individuals. His highness Crown prince of Dubai on 5^th October 2016, has provided a strategy paper to move all government transaction to blockchain by 2020 and all government organization are working towards achieving the target. The presentation will take you through the journey of block chain use cases and how we should prepare our educational institutes to take advantage of this futuristic technology.

Speaker(s): Mr. Ajay Rathi, Senior Director of IT,

Location:
Dubai Business School, University of Dubai, United Arab Emirates