Programmable Trust: Ethereum, Bitcoin and Blockchains
By Chen Mengzhu ‘18
On Thursday, the Volatility Institute at NYU Shanghai (VINS) lecture series hosted Christian Grewell, Professor of Interactive Media Arts and Business, who discussed the nature of blockchain technology and cryptocurrency, while examining the emerging opportunities and risks.
Grewell explained the value of the “programmable blockchain mechanism” and how employing it could establish a trusting consensus and promote ethical behavior. He described blockchain technology as “a decentralized, continuously-growing file that everyone trusts to be accurate forever.”
Sharing insight on the recent change in China’s BitCoin regulations, Grewell voiced his support for regulation reinforcement, despite prevalent public concerns on tightening transaction policies. “With regulation programmed as rules, a public national cryptocurrency blockchain would increase productivity, economic growth and eliminate bad actors.”
The IMA professor is also seeking to open a course at NYU Shanghai focusing on blockchain technology and its extended application in information organization and transparency.
When asked about the future of BitCoin and blockchain technology, Grewell remained optimistic, saying the market is likely to witness a hike in P2P transaction, but will stay stable over the long term. He also forecasted solutions that will help to scale the number of transactions possible on blockchains.
Moderated by Zhou Xin, Director of VINS, the talk attracted an evening crowd of students, technology enthusiasts and financial practitioners from the neighboring Lujiazui area.