In the 2020 annual report of the Expert Commission on Research and Innovation, there is a reference to the German Federal Government’s Blockchain Strategy adopted by the Federal Cabinet in September 2019. Its stated goal is to exploit the opportunities offered by blockchain technologies and to mobilize their potential for digital transformation.
At the same time, the study “Blockchain in Germany – Use, Potentials, Challenges” conducted by the digital association Bitcom surveyed more than 1,000 companies about blockchain. Results revealed that companies see a wide range of possible applications for blockchain technology, but that the vast majority are currently still reluctant to take action and tend to adopt a wait-and-see approach. To change this, companies not only need good use cases and marketable applications, but also employees who understand the new technology and recognize its potential for their own working environment. An important point in this context is in-company training:
According to the Bitcom President Achim Berg, there is a demand for companies to direct the focus of professional development training towards blockchain. This is where U4I comes into play!
In order to make the most of the opportunities provided by blockchain, also called DLT (Distributed Ledger Technology), it is essential to know some basic terms and understand both the potentials and risks of blockchain.
But what exactly should employees know about blockchain? In the following, you can find out which knowledge we recommend to companies and employees and the structure of our specific courses.
In U4I’s online basic course, users first learn the fundamentals of blockchain:
- What is blockchain about?
- Where can it be used?
- How did blockchain evolve from the solution of the so-called “Double Spending Problem”?
- Why do we speak of the evolution of the Internet of Value?
- What makes the technology so attractive?
- What are the risks of blockchain?
Put simply, a blockchain is nothing more than a distributed database; like a huge data table running on thousands or millions of computers (hence distributed, hence Distributed Ledger Technology).
In another course on the technical basics, through a simple example about bank transfers with and without a bank, the user learns:
- How a transaction in blockchain works.
- What lies behind the “Proof of Work” for block validation.
- Which cryptographic procedures are used.
- What chained blocks are and how to achieve manipulation security.
- About Merkle trees.
- What the difference is between private and public blockchains.
- About the technical challenges of the blockchain.
- Which further developments in the technology are expected.
In the course on the basic building blocks of blockchain applications, the user learns more about:
- The categorization of the application settings for blockchain.
- The areas of crypto currencies, smart contracts, and decentralized autonomous organizations (DAOs).
The courses on safety aspects of blockchain deal with:
- Manipulation security
- Protection from hackers
- The security of smart contracts
- The secure saving of “finished” blockchains
- What is meant by anonymity in blockchain.
In the course Outlook: Identify and develop potentials, future applications and new business models are presented. What does a typical “use case” for blockchain look like? What are the expected effects of blockchain in different sectors? What could certificates of the future look like?
In summary, the knowledge about blockchain technology conveyed in the U4I courses enables learners to understand the most important concepts and methods involved in blockchain. Furthermore, learners are enabled to weigh up the benefits of using blockchain in their own working environment.
Further information about our blockchain courses can be found here.
Further information about all our courses on a variety of topics can be found here.