Blockchain and cryptocurrencies have become buzzwords in the business world, and the ecosystem is growing at a very fast rate as more people rush to get involved. However, blockchain technology and everything that goes with it, such as cryptocurrencies, are incredibly new assets, and the laws, regulations, and knowledge that surround them are constantly evolving as they establish their presence in the financial world. What is developing this new ecosystem in the industry? What do blockchain and crypto imply? How will they affect other sectors?
These are all questions that young investors who are considering putting their money into Bitcoin, Ethereum, or any other blockchain currency should get answers to before deciding where to invest. Republic Media Network has partnered with the Amrita School of Business to bring you House of Knowledge, an initiative that aims to explore different aspects of the business industry with a focus on one of the Amrita School of Business campuses.
This week, with a focus on the Coimbatore campus, some of the biggest questions about blockchain and cryptocurrencies are answered, as well as how business universities ensure their students graduate with an understanding of this new technology that is emerging. revolutionizing the business landscape. Additionally, the episode also explores how universities are adapting to the new need for courses that specialize in blockchain and digital currencies.
The episode featured four esteemed panelists: Dr. A Senthil Kumar, Assistant Professor and Chair of MBA Program Finance, Sooraj VS, Amrita Alumni and CEO and CEO, Benow, Ms. Arushi Goel, Data Policy Specialist and Blockchain, World Economic Forum, and Mr. Raj Kapoor, Founder, India Blockchain Alliance. They discuss India’s rise to become the fintech capital of the world, its journey to operate as a cashless economy, and what role blockchain will play in that process. Panelists also address the fact that, unlike the stock market, there is not a great deal of precedent and prior knowledge surrounding blockchain or cryptocurrencies, making them a riskier and more volatile investment as governments decide how they should be regulated.
From an academic perspective, Dr. A Senthil Kumar highlights how Amrita Business School takes a holistic approach to teaching blockchain and cryptography, integrating fintech into courses with a more multidisciplinary approach. Emphasizing fluidity across disciplines, Amrita’s curricula are inspired by the SDGs and have received AACSB Accreditation, meaning they exceed the highest standards of excellence in teaching, research, curriculum, and learning success. Considering that blockchain and DeFi (decentralized finance) are seen as a big part of the future of commerce, schools are becoming more aware of the fact that they need to provide an increasing focus on these newer aspects of business and finance. .
The panelists also discuss the reasons why this new technology is becoming so popular, highlighting how the open access nature of blockchain allows for greater consumer confidence as everyone has access to all the information in the blockchain database. blockchain. Overall, the fact that it encourages safety, transparency, and efficiency makes it one of the favorite assets of millennials right now. Millennials make up 1/3 of the Indian population and 47% of the Indian workforce, so their investment choice is vital to the Indian economy. Other valuable benefits of blockchain and crypto that make them so attractive include the fact that they allow tracking of goods and transactions throughout the supply chain and the fact that they enable easy cross-border payments, encouraging humanitarian aid and remittances. On the other hand, the 30% tax and 1% TDS is a major factor in deterring investors from putting their money into cryptocurrencies, but it still doesn’t seem to be enough to curb its growing popularity.
Blockchain and its most prominent by-product, cryptocurrencies, are certainly gaining prominence, and it is essential that students and investors understand its applications, as well as the risks and benefits that come with it. With the possibility of deeds, salaries and much more. When it comes to blockchain, universities need to start integrating these possibilities into their curricula to ensure they are preparing students for the future of finance and business, and the Amrita School of Business in this episode provides a great example of how it should be executed.