Tech On Fire
Applying Blockchain Technology and Smart Contract Technology in Business
How decentralization can change the world
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Blockchain is the buzzword of this generation that will trigger a new wealth revolution
Why need this technology
The emergence of blockchain technology has brought tremendous changes to wealth generation! Cryptocurrency should be the most widely recognized application of blockchain technology. Its decentralized structure has completely subverted the operation mode of traditional currencies.
Recently, there is more attention on blockchain technology because of its “decentralized” nature. Data recorded on a blockchain cannot be tampered with, reducing errors and fraud. It is a revolutionary technology that can completely change business operations. It can be used to write “Smart Contracts” to replace traditional paper contracts. As long as certain conditions are met, the computer will automatically execute the contract terms. Blockchain technology also has application in different sectors, including medical and logistics. Blockchain technology is definitely a new trend worthy to be mastered!
Pain Points We Solved
Although the term blockchain has been heatedly discussed in the fintech community, there are few commercial applications of blockchain technology. The main reason is that people do not have a good understanding of its operating mechanism and technology.
Many people mistakenly think that investing in virtual currency is all that blockchain is; companies do not know that part of their business can be improved through blockchain technology, investing blindly and missing out on an opportunity to improve. Presently, information about blockchain in the market is too scattered, and the application of this technology in the business community is still at an initial stage. With this course, we hope to accelerate the application of blockchain in business!
Programme Highlights
This course is taught by seasoned IT industry instructors and will cover the basic knowledge of blockchain technology, including its principles, history and development, virtual currencies, including Bitcoin and Ethereum, and extended business applications, such as Smart Contract. The instructor has experience in developing blockchain applications for international companies. The class will strike a balance between theory and practice. In addition to teaching blockchain knowledge, students will have the opportunity to write smart contracts by themselves and experience the potential of blockchain technology.
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Curriculum
Learning hours: 1 lesson, 3 hours in total
A blockchain-based system possesses many key features such as its validation of transactions using mathematical rules, the execution of transaction in almost real-time, the prevention of alteration of data within, etc. This module will cover all the basics, ensuring that learners can grasp the essentials on blockchain technology.
Module content:
Introducing Blockchain
• Types of Blockchain
• Important aspects of Blockchain
• Cryptocurrency
Brief History of the Bitcoin Blockchain
• Basic concepts: hashing, nodes, decentralization
• Can I mine Bitcoin?
• Bitcoin Hard forked
• Your first paper wallet
Ethereum Blockchain
• Development history
• Proof-of-work and Proof-of-stake
• Eth2.0
Learning hours: 1 lesson, 3 hours in total
For businesses, blockchain is useful in facilitating P2P transactions, such as payment for goods. Another useful yet less known application is Smart Contract. Through this module, learners will see the concept and technical aspects of a Smart Contract and its use in authentic business setting.
Module content:
Understanding Smart Contracts
• How can Smart Contract help reduce errors and frauds?
• How does Smart Contract work?
• Concepts and metaphors
• ERC-20 and ERC-721 tokens
Solidity
• Technical perspective of a Smart Contract: basic data type, array, mapping, condition & for• loop
Smart Contract Example
• Write your own Smart Contract by coding
Case study: current situation of Smart Contract in Hong Kong
• Decentralized Finance (DeFi)
• Insurance
Outcomes
Blockchain in-action
• Have a deeper understanding of blockchain technology
DIY Smart Contract
• Create their own Smart Contract
The pain point of the logistics industry is to deal with different companies in the supply chain, such as production plants, warehouse, airlines, transportation companies, etc. If the tracking and transparency of the entire supply chain can be strengthened, it will surely save cost for all parties. Blockchain technology operates in a decentralized form, which can reduce the chances of errors and fraud. At the same time, smart contracts can increase the trustworthiness of the parties involved. I look forward to the changes that blockchain technology will bring to the logistics industry!
Edwin Fok
Head of Operations of a Logistics Company
Our Instructors
Our instructors have been working in the IT industry for years with a wealth of teaching experience. They compile the program curriculum and customize the scope and content of the program to cater for different corporate needs, target to technologically upskill corporate staff and improve operation efficiency in a short time. In addition to newest information technology sharing, instructors will also study real life cases with students.
Creamy Lam
Our Instructors
Ex-JobsDB
Case Study
Blockchain technology protects personal data
Protecting the personal data of patients is a major issue that the healthcare industry has to handle with care.
At present, patient data, such as medical history, medical records, and personal data, are mostly stored in the database of a single hospital or medical institution. There are three risks: data leakage, data being damaged or deleted, and difficulty in transfer of medical records. The emergence of blockchain technology can be a safe and effective solution for data storage and protection.
The characteristic of the blockchain is that once the information is entered into the blockchain, it cannot be modified. Meanwhile, patients can authorize access by different institutions. This is an ideal tool that can greatly protect the privacy of patients and improve the circulation of medical information!
Detail
| Course Name | Applying Blockchain Technology and Smart Contract Technology in Business |
| Course Code | BKC |
| Course Duration | 6 hours |
| Learning Mode | Face to Face |
| Class Size | 10 |
| Medium of Instruction | Cantonese with English Terms |
| Funding | This course has been approved by RTTP scheme for up to 2/3 subsidy |
| Certificates | You can receive the following certificates by completing this course Tech on Fire Certificate Digital Transformation Certificate issued by a local university * |
| Completion Criteria | 70% attendance rate of our course You can have the Digital Transformation Certificate by attending the Digital Transformation Workshop held by a local university quarterly. * |
FAQs
You can imagine that there are many computers connecting to a network, each with its own ledger. When you want to record a transaction, e.g. when someone borrows money from you, all the computers in the network keep a record of the transaction at the same time. The first block is thus created. When the loan is paid back to you, this repayment record becomes another “block” that is connected to the first block, and with cryptographic methods new blocks can only be connected to earlier blocks chronologically. No one can access the information without authorization and the information cannot be altered. You can also use blockchain to set up a “smart contract” to automatically receive repayment monthly. Compared to only saving data in one computer, isn’t this blockchain method more reliable?
At present, insurance companies have launched mobile applications that use blockchain to manage customer insurance policies.
The Financial Services and the Treasury Bureau of the HKSAR Government issued a report on 1 June 2020, stating that a total of 57 new FinTech companies was established in Hong Kong last year. Among them were companies specializing in the field of blockchain and distributed ledger technology (DLT). The growth is evident, accounting for 39% of the new FinTech companies, which is higher than the 27% in 2018.
This course is suitable for people who are new to blockchain technology. The first module of the course will explain the background of blockchain technology and some of its applications, such as virtual currency, smart contracts, etc. You will also learn to write smart contracts of your own under the guidance of your instructor.