Transacting on the Blockchain

Go to Course: https://www.coursera.org/learn/transacting-blockchain

Introduction

**Course Review: Transacting on the Blockchain** In the rapidly evolving landscape of technology and finance, understanding the mechanisms behind blockchain and its applications has never been more critical. The Coursera course titled *Transacting on the Blockchain* serves as a comprehensive introduction to this revolutionary technology, detailing how it can reshape our economic interactions and provide innovative solutions to existing inefficiencies. ### Overview The course begins by addressing a central theme: the inefficiencies of our current financial system, where large intermediaries dictate the flow of money and assets. It sets the stage for a discussion on how blockchain technology can empower individuals and organizations, replacing traditional and often cumbersome systems with more streamlined approaches. The content is structured into four key modules, each focusing on a crucial aspect of blockchain technology and its potential impact on various sectors. ### Course Syllabus 1. **Digital Assets** In the first module, students delve into the world of cryptoassets. The course provides a rich overview of nine different types of digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and central bank digital currencies (CBDCs). This module effectively illustrates the transformative shift from physical to digital assets, offering insights into the implications of this paradigm change for individuals and the economy at large. 2. **Smart Contracts** The second module offers a clear and detailed explanation of smart contracts—self-executing contracts where the terms are directly written into code. This segment discusses the myriad benefits of smart contracts, such as reducing transaction costs and the necessity for third-party intermediaries. This module is particularly valuable for those interested in automating processes and enhancing security across various applications. 3. **Identity** Privacy and control over personal data are increasingly significant issues in our digital society. The third module tackles the complexities of identity verification and the inadequacies of traditional identifier-based systems. Students learn how blockchain can facilitate a self-sovereign identity system, empowering individuals with greater control over their personal data, which is a vital concern in the age of digital transactions. 4. **Rethinking Finance** The final module examines the broader implications of blockchain on global finance. It highlights the inefficiencies and inequalities inherent in traditional financial systems and suggests how blockchain can introduce fairer and more accessible financial services. This segment encourages students to think critically about the future of finance and the role that decentralized technologies can play in fostering a more equitable financial landscape. ### Learning Experience The course is structured to foster engagement. Each module includes a mixture of video lectures, readings, and practical assignments encouraging learners to apply their newfound knowledge. The content is well-paced and accessible, making it suitable for individuals with varying levels of familiarity with blockchain technology. Furthermore, real-world examples illuminate theoretical concepts, making the learning experience more relatable and impactful. ### Recommendation *Transacting on the Blockchain* is highly recommended for anyone looking to deepen their understanding of blockchain technology, whether you are a business professional, a tech enthusiast, or simply curious about digital transformations in finance. The course not only explains the fundamentals of blockchain and its applications but also challenges participants to think critically about the implications of this technology for the future of economic transactions. With the rapid growth of cryptoassets and decentralized finance, knowledge from this course will position you ahead of the curve, equipping you with the insights needed to navigate the new economic landscape shaped by blockchain innovations. Enroll today and be part of the digital financial revolution!

Syllabus

Digital Assets

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, including cryptocurrencies, protocol tokens, non-fungible tokens (NFTs), stablecoins, securities tokens, governance tokens, exchange tokens, natural asset tokens, and central bank digital currencies (CBDCs).

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.

Accessing large, centralized systems such as email, health insurance, or a bank account requires the provision of various identifiers—for example, government-issued ID cards, self-selected passwords, or biometric data. However, identifier-based systems are problematic—both administratively and philosophically. In this module you will learn about five problems with identifier-based systems and explain how a distributed self-sovereign identity system, deployed on the blockchain, can resolve many of these issues.

The current global financial system is riddled with inefficiencies, uneven developments and bizarre contradictions. Blockchain technology has the potential to bring about profound changes to financial services. In this module, you will learn how blockchain technology will disrupt the core functions of the financial services industry, offering individuals and organizations alike real choices in how they create and manage value.