Web3 & Blockchain in Global Commerce
Global commerce has grown in complexity and magnitude over millennia, but its processes remain relatively unchanged. Enter blockchain—the Internet of Value. For the first time in human history, individuals and organizations can manage and trade their assets digitally, peer to peer. This four-course Specialization introduces you to the world of blockchain technology for global commerce—explaining what blockchain is, how it works, and why it is revolutionary. You will learn about various categories of digital assets and the ways they can be transacted on a blockchain. You will learn how blockchain is disrupting global supply chains, including how it will transform the practices of operations, logistics, procurement and purchasing, transportation, customs and border control, trade finance and insurance, manufacturing, and inventory management—making the whole network more adaptable and responsive to demand fluctuations and crisis. You will also learn about industry consortia and the idea of coopetition—a strategy of cooperating with competitors for defined purposes to cultivate a new economic ecosystem that benefits all participants.
In the final course, learners will synthesize their learning into a project deliverable called a Blockchain Opportunity Analysis. Here, learners will identify a specific need or problem in global commerce that could potentially be solved using blockchain or Web3 technologies. Learners will then investigate possible solutions to this problem, including the business model considerations required to bring this idea to fruition. As an outcome of this Specialization, learners will walk away with a consolidated, peer-reviewed Blockchain Opportunity Analysis, which can be used to pitch their idea to their organization or to potential investors.
Development of this Specialization was made possible thanks to the generous support of FedEx. All content for this Specialization has been written and/or reviewed by the Blockchain Research Institute and approved by INSEAD to ensure it is pedagogically sound, unbiased, and academically rigorous.
WHAT YOU WILL LEARN
- The roles of key participants in the global trade network and where the needs of each participant align with the value characteristics of blockchain
- What it means to “tokenize” an asset, and approaches to securing the physical-digital interface
- Blockchain solutions for provenance, traceability, ethical sourcing, and asset life-cycle management
- How blockchain consortia may vary with respect to their purpose, activities, membership models, beneficiaries, and governance models
- Some of the benefits and key considerations concerning shared standards for blockchain and digital assets