The USC Marshall Blockchain Business Initiative aims to position the business school as a leader in blockchain education while preparing students for the seismic shifts that technology is expected to bring.
In May 2023, the President of the University of Southern California Carol L. Folt announced it The limits of computing Moonshot, a billion dollars investment to expand advanced computing initiatives throughout the university.
Usc Business School in Marshall As soon as he took a big step in that direction. Last month, the business school announced new Blockchain’s business initiativeHis plan to accelerate the search, teaching and engaging of the industry about blockchain business applications. It is supported by $ 15 million in new USC funds.
Purpose? To position Marshall as a leader in Blockchain’s education and prepare students for seismic shifts, technology is expected to bring.
“The Blockchain initiative business will position USC students in the forefront of advanced advanced economy,” says President Folt. “This first initiative of its kind is designed to give our students access to the skills needed to work with decentralized finances and blockchain applications.”
At its core, blockchain is a digital book technology that allows data to be securely, transparently and permanently recorded on multiple computers. Instead of relying on a central authority to verify transactions, blockchain enables a decentralized network of participants to prove and store information.
Geoffrey Garrett, USC Marshall Dean
This has some business implications beyond the trading of Bitcoin, Etereum and Cryptocurrency.
“There are really two elements for this,” says Marshall Dean Geoffrey Garrett Poets & quants. “On the one hand, we want to take advantage of the opportunities that technology creates, no doubt. We also need to understand all the displacements that technological change generates, so we have the possibility plus responsibility.”
Marshall’s initiative will focus on three main areas where blockchain is ready to spoil traditional business models. The biggest potential, says Garrett, is in decentralized finances – the idea that blockchain can remove brokers from financial transactions.
“Blockchain’s promise is that you can drive [transaction costs] Towards Zero, “he tells him P&D.” Not only does it make the plumbing of the financial system much more efficient, but it makes it much more fair. You will increase the approach if you can do it. “
The impact on supply chains will also be important. Today, global supply chains are often complex and dark, making it difficult to verify the origin of goods. Blockchain’s ability to create a transparent bookstore to follow the products at every step of the chain.
Finally, there is the creator’s economy, especially important in Los Angeles where Hollywood, the music industry and a number of digital content stars intersect. Blockchain gives creators the opportunity to own and make money for their IP, cutting the need for record or film companies.
“If you combine the iPhone with blockchain protection, and you are a creator, you can now run your business. You don’t need a music company. You don’t need a movie intermediary. You can do it yourself. That’s pretty exciting .
Marshall already supports a strong ecosystem about blockchain and other digital technologies. It started Vaneck Digital Asset Initiative (Veda) In 2022 after a $ 5 million gift from Vaneck Associates to study business opportunities in blockchain. Veda’s annual conference is one of Blockchain’s biggest conferences in southern California and last year attracted more than 1,700 students, faculties and business leaders from all
Marshall is also the house of Digital Competition Initiative as well as Randall R. Kendrick Global Institute of Supply Chain.
USC interdisciplinary access is another advantage. Marshall already collaborates closely with the University Engineering School, which offers a blockchain minor. This can potentially expand to a diploma program. USC is also home to one of the biggest Blockchain clubs led by students in the country and that club happens to be one of the largest student clubs at the university.
“Amazing is amazing to see how, for those of us who are older, high school students are getting the right to cut all these technologies. And honestly, it is difficult for us to continue with this,” says Garret.
Blockchain’s business initiative will act as a type of umbrella org for these centers, organizations and activities, while also expanding in their work. Marshall will hire two new chairs equipped in Blockchain, as well as new faculties, supporting his post and pre-documentation and other research assistants to support both faculty research and students, and expand his curriculum to blockchain, Garret shows P & q.
The initiative aims to strengthen the USC position as a main global web3 center, joining a network of developers, investors, academics and student organizations. It will also expand entrepreneurship opportunities for USC students, enabling them to begin blockchain -related beginnings and use the opportunities that this technology unlocks.
Of course, blockchain’s future depends on how governments choose to fix it.
“I think it’s right to say that the Biden administration was pretty negative in blockchain and cryptocurrency, trying to fix it from existence. The Trump administration will be the opposite, but we know we will need true guards , ”Garrett says P & q.
“The last thing we focus on is what kind of regulatory environment can protect consumers – this is really important – but also strengthen innovation.”
So what is next? In the short term, Marshall is already accepting faculty search proposals for blockchain -related projects and expects to start recruiting for new faculties positions in the next academic year. But Garrett is thinking more.
“This is actually a really interesting moment. He’s touching everything, and the intersection of him and blockchain will really be, really great,” he says. “Although we are Blockchain’s business initiative, it is actually blockchain in the context of other advanced technologies. Keyelas is now.”
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