The Stern School to launch Cryptocurrency Course

The Stern School plans to offer a new undergraduate course to learn about blockchain and cryptocurrencies
01 December 2017   476

New undergraduate course

The New York University Leonard N. Stern School of Business was the first major university to launch a course in the nascent field of blockchain and cryptocurrencies. Now Stern plans to offer a new undergraduate course to learn about the field as well.

Challenges

Universities that intend to offer classes about bitcoin, blockchain and cryptocurrency face two major problems.

First, this field is changing at an incredible speed.

Year over year we’ll change well over half the course material. It keeps you young to be reading half the night just to keep up with the latest innovations.

 

David Yermack

Professor of finance, the NYU Stern School of Business

Secondly and more importantly, the field is lacking in professionals.

Our biggest challenge is finding enough people to teach the courses.

 

David Yermack

Professor of finance, the NYU Stern School of Business

Alternatives

There are already scores of internet tutorials, many of them available free as massive open online courses. Coursera, an education-focused tech company, has joined with Princeton University to offer an 11-week online cryptocurrency technologies course. At the other end of the spectrum is B9lab, a fee-charging institution based in London and Hamburg offering a 40-hour online course in blockchain for technical executives and analysts spread over 9 weeks at a cost of €2,350.

Bank of China Filed a Patent to Scale Blockchain Systems

Bank of China has filed a patent application for a process able to scale blockchain systems  
23 February 2018   95

According to a document released by China's State Intellectual Property Office (SIPO) on February 23, the application was invented by Zhao Shuxiang and first submitted on September 28 last year.

The application states that instead of letting a new block store transactions from its previous one, a data compressing system could be used to pack transactions from multiple blocks into what the patent calls a "data block."

For example, when the system receives a request to compress transactions from block 1 to 1,000, it causes a new data block to be formed and temporarily hosted on a different storage system. Then, the system will run the packed data through a hash function with a hash value. After that, the compression system will attach labels in order to identify blocks on the blockchain.

With the use of the described method, the patent claims a reduction in the amount of the data stored in new blocks as transactions mount in a blockchain while ensuring that data from all previous transactions will still be tamper-proof and traceable.

At the moment, the patent in the review process.