By Nurdianah Md Nur
May 2, 2017
IBM Center for Blockchain Innovation (ICBI) and the National University of Singapore (NUS) are jointly developing a module on financial technology that will focus on blockchain and distributed ledger technologies.
To be offered to students of NUS' School of Computing from January 2018, the module aims to equip students with an understanding of the fundamentals of the technology behind distributed ledgers, and its diverse use cases. Students will also be encouraged to contribute to developing the technology further.
The module will be co-taught by NUS academic staff and ICBI employees who will use financial technology software such as Hyperledger Fabric to deliver the course content. Such software will also be made available to NUS researchers for research purposes.
"The new module forms part of the newly enhanced Information Systems degree programme in which a new specialisation in Financial Technology has been introduced. We are confident that our graduates will be well-prepared for the wide-ranging career opportunities in this fast-growing sector," said Associate Professor Hahn Jungpil, Head of the Department of Information Systems at NUS School of Computing.
Blockchain, or distributed ledger technology, is a distributed database of transactions shared across a network of trusted entities. It helps create greater accountability, transparency and potentially trust for all transactions.
According to IBM's Institute of Business Value, a number of industries are showing high interest in exploring the use of blockchain technology. Fifteen percent of banks and 14 percent of financial market institutions intend to implement full-scale, commercial blockchain solutions in 2017. Nine in 10 healthcare institutions surveyed also plan to invest in blockchain pilots by 2018. Besides that, 90 percent of government organisations plan to invest in blockchain for use in financial transaction management, asset management, contract management and regulatory compliance by 2018.
"Blockchain is impacting many industries including financial services, trade, healthcare and supply chain. This collaboration with the National University of Singapore School of Computing will help prepare a future workforce that is born on blockchain, ready to implement, improve and innovate: core skills required for Singapore to achieve its vision as a Smart Financial Centre and Smart Nation," said Robert Morris, Vice President Global Labs, IBM Research.