Blockchain technology is increasingly emerging as a key technology with enormous potential. With its fundamental characteristics such as immutability, transparency and decentralization, the technology makes the transmission of digital or digitally represented goods possible. Therefore, it makes the trust that is necessary for business relationships with today’s technologies obsolete.

In a truly digital world, this results in an enormous potential for politics, economy, and society. By increasing the efficiency of data sharing and automation through smart contracts, automatically unfolding agreements, blockchains can be used to implement entirely new business models.

The development is reinforced through the fact that blockchain technology is increasingly integrated with many exponentially growing technologies which will also have a great impact on our social and economic systems, such as artificial intelligence and IoT. Blockchain will extend and complement these by the above-mentioned aspects, and can, therefore, be expected to penetrate and transform industries even more.

But what is Blockchain?

In order to clarify this question and create awareness about blockchain technology among stakeholders, a webinar was hosted by Stefan Schmitt, researcher of the Frankfurt School Blockchain Center and a lecturer for the course Blockchain Basics; part of the Blockchain Academy of the FSBC.

He discussed the basic blockchain terms to get familiar with the common terminologies, so the attendees could develop a basic technical understanding in order to form first associations as well as links between the terms. He showed practical blockchain applications that partners and friends of the FSBC work on. Furthermore, he dove deeper into the blockchain technology and provided a starting point for the blockchain learning journey of the attendees.

More than 150 people attended the webinar and developed a solid understanding of blockchain basics, as well as an understanding of important topics and current trends in the blockchain space.

Watch the webinar on YouTube: