Blockchain is still an emerging technology that is a mystery to many who are not used to confusing words like distributed ledger, cryptocurrencies, crypto mining, hashcash, proof of work, smart contracts, and others.
Teenagers don’t care. Their lexicon is much more complex. They are unencumbered by adults’ stressful way of living and are simply able to focus on the business of creating ideas.
One 11-grader is putting together a team to help healthcare professionals, well, save money and focus on healing those in need.
Block (Chain) Heads at his school, Raha International School Abu Dhabi, finished second runners-up in Curtin University Dubai’s Business Cup Challenge 2018.
“His team came in 3rd place and has recruited a new team to implement a blockchain-based solution for a hospital in Abu Dhabi,” Daniel Adkins, CEO, Transnational Academic Group, told AMEinfo.
Could this really happen?
Business Cup Challenge 2018
Curtin University Dubai, one of Australia’s most highly regarded and prestigious universities, organized Business Cup Challenge 2018 and saw team Lycan from Delhi Private School from Dubai crowned as champions.
With a focus on blockchain technology for this year’s challenge, the finale, held at Emirates Institute for Banking and Finance in Dubai Academic City, witnessed some spectacular real-world business cases and plans which the students presented to a professional panel during the event.
“When we began this, we recognized that not everyone who goes through high school is going to ultimately go to university, as some may go into industry, become entrepreneurs or go into family businesses,” begins Adkins.
“To us, this was an opportunity to give students a chance to do business case analysis and get feedback from highly credentialed professors who would then help students into these non-university paths they might choose. A side benefit may be that certain students may want to come to Curtin.”
Curtin is a comprehensive university with a focus on STEM (Science, Technology, Engineering, Mathematics) subjects. It is the second highest ranked comprehensive university in Dubai.
Curtin started off with a seminar preparing for the competition, explaining how the technology worked and discussed potential uses of the blockchain, then each week, over one month, the university released different case studies and students needed to come up with a blockchain-based solution to either reduce the cost of the business or increase its revenues.
Categories included UAE national bonds, the Dubai health authority, food, and hygienic products and the education industry.
“What the winners came up with was having every K-12 school, every university and everyone else who grants any type of recognized credentials, all submitting information on their students to the blockchain so that there would be one single point of data that would allow any other educational institution or employer to verify the credentials being presented to them. On a worldwide basis, this eliminates presenting fraudulent credentials,” says Adkins.
Team Synergy from GEMS Our Own Indian School Dubai was first runner-up.
Teen ICO plans?
No, there won’t be a university-assisted program to launch an initial coin offering (ICO) on these winning projects, especially as many of 15-18-year-old students focused on distributed ledger aspects and functionalities of the blockchain rather than cryptos and tokens.
“But students could take this forward into business, or get angel investors and venture capitalists to fund their ideas and we will be talking to students about the things that they might do towards that end,” adds Adkins.
It appears that 11th grader is already half-way there.
The theme of Business Cup challenge 2019 will be around Artificial Intelligence (AI).
“We invite all schools across the GCC to participate and are hoping for a larger turnout from this year’s almost 60 schools, and 117 teams vying for creative recognition,” ends Adkins.