Blockchain technology and cryptocurrency are taking over the world. Many people, especially those from the younger generation, are tempted to enter this market and utilize it in their careers. Sadly, not many business schools offer an academic program centered entirely around blockchain and crypto. However, given the growing demand, they should consider doing so immediately.
So, here’s how they can design such academic programs in blockchain and cryptocurrency.
An Introduction to Blockchain, Cryptocurrency, and NFTs
Blockchain technology governs crypto trading. It is the foundation that ensures the integrity and authenticity of cryptocurrencies and their global trading. Thus, it’s only logical that students start their crypto journey with an introduction to blockchain technology.
After that, business schools need to introduce students to cryptocurrency, how it utilizes the blockchain, and why it’s so popular. Students should also learn about the various terms related to cryptocurrency. That includes terms like fiat, altcoin, crypto wallet, mining, DeFi, etc. The course should also discuss popular cryptocurrencies like bitcoin, how they achieved fame, and how some cryptocurrencies failed to make it big.
NFTs are growing in popularity as well. It has a separate market and fanbase of its own and is revolutionizing the way we utilize scarcity for profits. So, the introductory courses should cover NFTs too. They should cover how scarcity is a way to drive demand and prices and how the Metaverse is impacting the NFT sector.
How to Trade and Purchase Cryptocurrency
Not every business major will want to delve into cryptocurrency and blockchain technology. Some will prefer to stick to the basics and simply learn how to trade and purchase cryptocurrency. That can be a course in itself. Many people refrain from the working mechanics of blockchain technology and how cryptography is related to them. For them, a quick introduction to those topics will suffice, followed by a deeper dive into trading and buying cryptocurrency.
The crypto trading course should first introduce students to a cryptocurrency exchange. It should then show them how to buy cryptocurrency from a cryptocurrency exchange platform. The content should also discuss the benefits one can enjoy if they buy crypto with a credit card, bank transfer, etc. Students should know how exchanges convert cryptocurrency (fiat) into USD or other local currency and vice-versa.
A crypto trading course or module will allow students to directly jump into cryptocurrency trading without getting into the technicalities. The course will be perfect for students who are not that interested in learning about the blockchain’s working process and how it keeps track of everything.
How Blockchain is Impacting Other Industries
The scope of blockchain is more far-reaching than ever. Its impact revolutionized the cryptocurrency market and is now doing the same in other industries too. Thus, students should get a closer look at this and learn how they too can utilize the blockchain in other industries.
Blockchain provides a decentralized system for monitoring crypto. It’s a ledger that keeps track of all trades and transactions happening in the crypto world. As a decentralized system, the blockchain is free from corruption and all sorts of manipulation.
Students should know how they can utilize this technology in other parts of the business world. For instance, different companies are using the blockchain to improve the efficiency of their supply chain. The blockchain lets them keep their production in check.
Another major advantage of using blockchain is that it guarantees authenticity. That’s something businesses can use to keep counterfeit products and piracy at bay. Many luxury brands are already utilizing this feature. Since luxury brands thrive on scarcity, they release limited quantities of a certain product. So, they can keep track of any product that may enter the market without their knowledge and treat it as a counterfeit.
How to Avoid Cryptocurrency Scams
Given how popular crypto trading is right now, it’s clear that many will try to scam people through it. Therefore, colleges and universities need to make their students aware of these scams. A single course on crypto scams and how to avoid them will be enough to spread awareness among students.
Students should learn how to spot a crypto scam and the techniques scammers use to sound legit. They should learn all these in detail and with real-life case studies. The course should also teach students how to safely buy cryptocurrency, trade on a cryptocurrency exchange, and protect their digital wallets.
Doing a major in blockchain technology or cryptocurrency is a dream that many have right now. Their fascination with this sector is what’s fueling this desire. So, it’s about time business schools and colleges start considering setting up such academic programs and helping boost their students’ careers.