I am, by nature, an inquisitive person. Living in a VUCA (Volatile, Uncertain, Complex and Ambiguous) world means you need to adapt to survive – especially if you’re expected to be a future leader of the fourth Industrial Revolution.
To quote Assoc Prof Tan Joo Seng from the Nanyang Business School: “Whether you are a student choosing a university or subject area to specialise in, or someone building a career and trying to improve the world, remember one thing: Being curious will put you on the path to success.”
It was curiosity that first set me down the rabbit hole that is blockchain. Beyond Bitcoin, blockchain has far-reaching applications that every university student – or the future workforce – should know about.
The basics of blockchain
The media was obsessed with Bitcoin – and similar sounding cryptocurrencies in 2018 – after the former hit a value of US$19,783.21 on December 2017, its highest on record. Then there were talks of regulations and ICOs (Initial Coin Offerings, where start-ups raise funds by offering public shares in the form of cryptocurrency).
At the base of all the exciting talk, is blockchain. So what exactly is this heavy sounding technology?