The Blockchain and Distributed Ledger Technologies in Business unit has been a very informative and fun ride in my first semester. Like most people around the world, I got very interested in cryptocurrencies around 2021, when the surge in cryptocurrency (Dodge) shook the world. It was a pleasant surprise when I found that this unit was being offered at our university ( the university of Western Australia) and I chose this unit without skipping a beat. This unit is much more than cryptocurrencies, as I got to understand the technology behind cryptocurrencies and the variety of ways they can be used in our day-to-day lives without the interference of the government and all the big corporations.
The most interesting thing that I learned through this unit is how all the big corporations and governments around the world are almost fearful of this technology as it would end their monopolies. Through this unit, I understood how bitcoin technology can help implementing democracy in its most purest form and actually provide power to all the people rather than being controlled by a fair few around the world. I was surprised to hear how old this technology is and how Satoshi Nakamoto revolutionised this technology by solving the double spending problem.
Another unique feature of this unit was how Professor Andrzej Gwizdalski connected different philosophical schools of thought with blockchain technology. The lecture that stands out the most for me is when he explained the Plato’s cave theory and how it can be connected to blockchain technology. To conclude, this unit helps in understanding the most complex web 3 and bitcoin technology in the most simple terms so that a non – technical person can have a brief idea what this technology is all about.