For all business transactions, there is an element of trust – that your counterparty will perform the task, will deliver once the task is done, will not default. In the pre-COVID era, a lot of trust was generated through repeated interactions, usually involving face-to-face transactions. But post-COVID, there is a steep decline in the amount of travel and social interaction – leading to a drop in face-to-face transactions.
In this webinar, Professor Raghu Rau (Cambridge Judge Business School) will discuss how blockchains are disrupting our society and how technology can replace trust in the time of social distancing.
What can replace trust in a post-COVID society?
• More intrusive monitoring (companies installing software to monitor what workers are doing at all times): Privacy implications
• Trusted third parties (lawyers, banks, financial intermediaries): All costly
• Technology: Blockchain technology
Why does blockchain enable trust?
• Decentralization: No individual counterparty controls details of transactions
• Indelibility: Once a transaction has been recorded, no one can change it
• Anonymity: Like cash, identities can be protected if necessary
Examples of centralized vs. decentralized blockchains
• Chinese central bank issued cryptocurrency
Amsterdam Institute of Finance (Host)
Paula Jääskeläinen | Business Development Manager
At Amsterdam Institute of Finance we specialize in providing quality education for professionals - from the basics of finance to more specialized advanced topics. Our faculty consists of the world’s leading experts. More than 15.000 professionals have participated in our programs and events.
Raghu Rau is the Sir Evelyn de Rothschild Professor of Finance at Cambridge University (Judge Business School). He is also a founder and director of the Cambridge Center for Alternative Finance. At AIF he teaches a course on Financial Disruption where he discusses how technologies - blockchains, AI, big data - are changing our society and disrupting entire industries.