As 30% of bank jobs face elimination due to disruptive technologies by 2025, businesses are warned to prepare for the blockchain revolution.
As blockchain technology promises to radically overhaul the nature of business, changing the job landscape and disrupting across industries, Saïd Business School, University of Oxford is launching a new digital blockchain strategy programme to prepare executives.
With a McKinsey report predicting that blockchain will ‘generate $80-$110 billion in impact’ by 2021, the new Oxford Blockchain Strategy Programme offers a fundamental understanding of where blockchain can be used, how it works, and its structural and market implications.
Blockchain is at a tipping point - where clarity is emerging about its potential use across multiple industries including manufacturing, healthcare, energy and financial services. Behind this is a fear of job losses and massive industry disruption, as well as opportunities for new business models and emergent technologies to be created.
‘With 80% of banks developing blockchains, and industries from law to aerospace exploring possibilities, the next 5 to 10 years will see massive disruption from blockchain adoption as jobs are automated and new industry applications are created.’ said David Shrier, Associate Fellow at Oxford Saïd and course Co-convenor of the Oxford Blockchain Strategy Programme.
‘When the internet was born, people used it to email one another. Businesses like Amazon and Uber were inconceivable’, he added.’Blockchain is a revolution of similar proportions, with undetermined potential, ramifications and opportunities.’
The programme has been designed for senior executives and managers – as well as professionals with a keen interest in blockchain – to understand how blockchain will affect and shape business. It will provide them with an actionable strategy to respond to blockchain and incorporate it into their long-term planning.
‘The application of the core technology behind bitcoin – blockchain – extends much further than the widely recognised cryptocurrencies,’ said Nir Vulkan, Associate Professor of Business Economics and Co-convenor of the Oxford Blockchain Strategy Programme at Oxford Saïd. ‘Blockchain has the potential not only to change how we transfer value, but could shift our systems of trade, identity, efficiency and governance across all sectors, radically transforming traditional approaches to management. What participants will understand from our course is what is on the horizon for their business and how to prepare for that.’
Teppo Felin, Professor of Strategy at Oxford Saïd, will provide a framework for companies to capitalise on the blockchain opportunity. The programme will also feature insights from guest speakers such as Meltem Demirors, Director at the Digital Currency Group, and Professor Sandy Pentland, one of the world’s leading data scientists, as well as a number of practicing entrepreneurs, technologists and financiers of the blockchain sector.
In addition to the insights and advice these global authorities share on the programme – through video interviews and lectures – participants will be equipped with two strategy frameworks developed specifically for the programme: the Oxford Blockchain Strategy framework, and the Oxford Blockchain Regulation framework. On successful completion participants receive a certificate of attendance from Saïd Business School, and access to the Oxford Saïd Executive Education alumni network.
Peter Tufano, Peter Moores Dean at Saïd Business School, commented: ‘Technology and the mobile revolution are rapidly transforming financial markets, institutions, and business models. Drawing upon the expertise of leading academics and practitioners from Oxford Saïd and colleagues from across the University our new digital programmes, supported by our partner GetSmarter, will provide entrepreneurs and executives with the insights and knowledge necessary to navigate this changing landscape, and adapt and progress in their careers.’
The programme will begin on 28 February 2018 with six modules over six weeks.
Visit the programme website for more details.