Introduction to Blockchain for Global Commerce

The Internet connects billions of people around the world, and is great for communicating and collaborating online. However, because it was built for moving and storing information, and not value, it has done little to change the way we do business. In this module we introduce blockchain as "the trust protocol," and explain how it represents the second era of the Internet.

We believe that the next era of the digital economy can be shaped around a set of blockchain design principles, which can be used for creating software, services, reinventing business models, markets, organizations, and even governments. This module frames the blockchain revolution around seven design principles.

Blockchain is the first native digital medium for value. Consequently, we are witnessing one of the largest transformations of wealth in human history—from paper-based analog assets to digital ones. In this module, students will learn about nine different kinds of cryptoassets.

In this module, you will learn what smart contracts are and how they work. We will discuss how blockchain-based smart contracts can enable individuals and organizations to reduce transaction costs, minimize the need for third-party intermediaries, and improve productivity, security, and privacy.

The advent of blockchain technology forces us to reconsider the upside and downside of public revelation of transactions and contracts. In this module, you will learn how privacy can be protected in both public and private ledgers using both procedural and technological methods.

Like every revolutionary technology, blockchain has its upside and its downside. In this module we discuss ten implementation challenges which must be overcome as we transition to the second era of the Internet.