UJ, Fintech discuss Cryptocurrencies and Blockchain, emphasis on Industry 4.0

Date: Oct 19, 2018 | News

Calls for African universities to offer more courses to harness the power of blockchain-based innovation are gaining momentum as higher education institutions are embracing Industry 4.0.

The internet changed the way we share information. Blockchain is changing the way we transact as we continue to see banks, brokers, insurers, regulators and others actively testing ways to harness the benefits of Blockchain.

This is the view of Paul Mitchell, Fintech & Blockchain Specialist when he delivered a presentation on Wednesday, 17 October 2018 at the University of Johannesburg 9UJ). He thinks Blockchain will bring the same level of convenience and automation in Africa.

The University of Johannesburg (UJ) Development and Fundraising Office within the Division of Financial Governance & Revenue, in association with the UJ Library and the Faculty of Engineering and the Built Environment hosted the Blockchain seminar.

“One of the key things enabled by cryptocurrency is Initial Coin Offerings, ICOs,” said Mitchell.

Prof Babu Paul, Director of the Institute for Intelligent Systems (IIS) at UJ suggested in a recent report that higher education institutes on the continent train more technology and science students in blockchain technology, as this is a critical aspect of the Fourth Industrial Revolution.

The seminar explored four key factors of Blockchain technology including: Distributed Ledger; Cryptography, Consensus; smart contracts and the opportunities that exist in decentralising businesses using Blockchain.