Blockchain Technology introduced in NYU’s MBA program, following growing interest
Blockchain technology and its application in the fields of finance, technology, supply chain, healthcare etc. have been picking up over the past few years. Countries and companies have increasingly turned to this innovative and nascent technology to streamline business, manage data more efficiently and de-centralize operations. Evidently, there is a growing need for manpower trained in this technology.
It seems that New York University (NYU) has heeded that call and has become the first university in the United States to offer a fintech specialization for its MBA program that focuses on blockchain technology, reported CBS New York on Tuesday.
NYU clarified that it was not offering a blockchain major, contrary to CBS New York’s earlier report. Rather, the inclusion of blockchain technology is within a fintech specialization in the MBA program.
The premier Stern School of Business at NYU will be offering an undergraduate course on cryptocurrencies, one of the technology’s main applications, the course is entitled, “Cryptocurrencies and Decentralized Ledger.”
Andrew Hinkes, a professor at the school, commented on the new blockchain program: “We hope to establish a groundwork so that the students can understand what’s really happening under the hood, so that they can understand both the legal and the business implications, and prepare them to go out and tackle this new market.”
Given the corporate and sovereign demand for professionals with this know-how, several large companies are aiming to partner with NYU. The university had to reportedly double its course offering this school year to cater to the vast number of interested students.
Interestingly, one of the most well-known American economists and a professor at the Stern School of Business, Nouriel Roubini, has been an outspoken critic of the evolution of cryptocurrencies, lambasting virtual currencies as “nonsense.” He had voiced his dissent at the Milken Conference earlier in the year.
Coinbase’s Adam White said that students “see the development, the birth of a new industry,” and that, “in many ways, we look at things like Bitcoin [BTC] and Ethereum [ETH] and blockchain as the internet 3.0.”
The worldwide trend is also gradually moving towards blockchain education, with Coinbase’s recent study pointing out that out of the world’s top 50 universities, 42 percent have at least one class on cryptocurrencies and blockchain. In the study, 172 classes were reviewed by Coinbase and 15 percent of the classes were under the economics, finance, law and business departments and 4 percent were in social sciences. The U.S. has emerged as the most popular country to offer crypto-courses.
American students are not just intellectually inclined to digital currencies but also financially. Student Loan Report released a study that showed 21.2 percent of college-going students used their loan money to invest in a cryptocurrency, despite price volatility.
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