The USC Marshall blockchain initiative aims to position business school as a leader in blockchain education while preparing students for seismic changes that technology should bring.
In May 2023, the president of the University of South California, Carol L. Folt, announced it IT borders Moshot, an investment of $ 1 billion to extend the university’s advanced IT initiatives.
USC Marshall business school I just took a big step in this direction. Last month, the business school announced its new Business of Blockchain InitiativeIts plan to accelerate the research, teaching and engagement of the industry around blockchain’s commercial applications. It is supported by $ 15 million in new USC funding.
The goal? Place Marshall as a leader in blockchain education and prepare students for seismic changes that technology should bring.
“The Business of Blockchain initiative will position USC students at the forefront of the rapidly evolving IT economy,” said President Fart. “This primary initiative of its kind is designed to give our students access to the skills they need to work with decentralized financing and blockchain applications.”
Basically, Blockchain is a digital registry technology that allows you to record data safely, transparent and permanently on several computers. Instead of counting on a central authority to check the transactions, the blockchain allows a decentralized network of participants to validate and store information.
Geoffrey Garrett, USC Marshall Dean
This has several commercial implications beyond Bitcoin trading, Ethereum and cryptocurrencies.
“There are really two elements for that,” said Marshall Dean Geoffrey Garrett Poets and quants. “On the one hand, we want to take advantage of the opportunities that technology creates, without a doubt. We must also understand all the dislocations that technological change generates, so we have the opportunity and responsibility. »»
Marshall’s initiative will focus on three key areas where blockchain is about to disrupt traditional trade models. The greatest potential, known as Garrett, is in decentralized finance – the idea that blockchain could withdraw the intermediaries from financial transactions.
“Blockchain’s promise is that you can drive (transaction costs) to zero,” he told P&Q. “Not only does it make plumbing the financial system much more efficient, but it makes it much more fair. You will increase access if you can do it.
The impact on supply chains will also be significant. Today, global supply chains are often complex and opaque, which makes it difficult to verify the origins of goods. The blockchain’s ability to create a large transparent book to follow the products at each stage of the channel.
Finally, there is the economy of creators, particularly relevant in Los Angeles where Hollywood, the music industry and an explosive number of digital content stars meet. Blockchain gives creators the opportunity to own and monetize their own IP, reducing the need for recordings or film companies.
“If you combine the iPhone with the protection of the blockchain and you are a creator, you can now manage your own business. You don’t need a music business. You don’t need a film intermediary. You can do it yourself. It’s quite exciting.
Marshall already supports a robust ecosystem around blockchain and other digital technologies. He launched the Vaneck Digital Assets Initiative (VEDA) In 2022 following a gift of $ 5 million from Vaneck Associates to study commercial opportunities in blockchain. The annual conference of Veda is one of the biggest conferences in blockchain in Southern California and attracted more than 1,700 students, teachers and business leaders last year from the United States
Marshall also houses the Digital competition initiative as well as the Randall R. Kendrick Global Supply Chain Institute.
The interdisciplinary approach of the USC is another advantage. Marshall is already collaborating in close collaboration with the university engineering school, which offers a blockchain minor. This could potentially develop in a study program. The USC also houses one of the biggest blockchain clubs managed by students in the country and this club happens to be one of the largest student clubs on the university.
“It is incredible to see how, for those of us who are older, the students of the school arrive at the forefront of all these technologies. And frankly, it is difficult for us to follow this, ”explains Garret.
The Business of Blockchain initiative will act as a kind of ug ug for these centers, organizations and activities while increasing their work. Marshall will hire two new chairs with blockchain as well as new teachers, will support post-and predoctoral scholarship holders and other research assistants to support research both teachers and students, and broaden his Blockchain study program, says Garret P&Q.
The initiative aims to consolidate the USC position as a leading world center, uniting a network of developers, investors, academics and student organizations. It will also expand entrepreneurial opportunities for USC students, allowing them to launch blockchain -related startups and take advantage of the possibilities that this technology unlocks.
Of course, the future of blockchain depends on how governments choose to regulate it.
“I think it is fair to say that the Biden administration was quite negative on blockchain and cryptocurrency, trying to regulate it out of existence. The Trump administration will clearly be the opposite, but we know that we are going to need real railings, ”explains Garrett P&Q.
“The last thing we focus is the type of regulatory environment both protecting consumers – it’s really very important – but also empower innovation.”
So what is the next step? In the short term, Marshall already accepts the faculty’s research proposals for projects related to blockchain and plans to start recruitment for new teachers positions during the next academic year. But Garrett thinks bigger.
“It’s actually a really interesting moment. The AI affects everything, and the intersection of AI and blockchain will be really, really tall, “he says. “Even if we are the Blockchain business initiative, it is actually the blockchain in the context of other advanced technologies. The key right now is AI. »»
Don’t miss: The interview with P&Q: Geoffrey Garrett in the fact of making USC Marshall a leader in the energy transition AND In Toronto Rotman, an AI tool changes the way teachers teach – and help students also learn better
The Post USC Marshall is largely betting on blockchain affairs appeared first on Poets & Quants.
