Within the relatively new and rapidly growing blockchain sector, rules and regulations regarding digital assets, transactions and smart contracts are constantly evolving. This presents a challenge to businesses that wish to adopt blockchain solutions or start blockchain-based businesses in various jurisdictions. Blockchain technology is poised to revolutionize the way the world does business, but a lack of access to relevant regulatory information, guidance and standards can be a serious roadblock.
Portland State University business students Riley Fay, Maurice Pam and Rob Ripley were selected to help remove that roadblock through the Global Standards Mapping Initiative, or GSMI. As GSMI Fellows, the students will help develop GSMI 2.0 by focusing on regulatory research and analysis, and monitoring assigned jurisdictions to ensure that the GSMI map of global regulation and guidance — a crucial tool for regulators, policymakers and business leaders — is fully updated with the latest regulatory, legislative and executive actions.
Global Blockchain Business Council (GBBC), a nonprofit industry association formed in 2017 and dedicated to advancing adoption of blockchain technology, created GSMI to be an invaluable resource to businesses, providing comprehensive up-to-date information regarding the rules and regulations pertaining to blockchain and digital assets globally, as well as lay the groundwork for the development of standards.
With new advancements in the blockchain space over the last year, GBBC is curating GSMI 2.0, set to release in October 2021. GSMI 2.0 seeks to build on the foundation laid in the first version by expanding upon and updating the information compiled in the current map.
The GBBC selected 16 GSMI Fellows from nine academic institutions across six countries to help in the development of GSMI 2.0. Fellows were selected based on their academic credentials, research experience and on the recommendation of a distinguished professor from a GSMI partner University.
According to LinkedIn, blockchain skills were number one in demand for employers in 2020. PSU is addressing the demand with a first-of-its-kind Business Blockchain Certificate, established in Fall 2019. Fay, Pam and Ripley are currently enrolled in the blockchain program. The online certificate is designed for non-programming students to be introduced to blockchain technology and its use cases for businesses.
Led by Business Instructor Stanton Heister and Accounting Professor Kristi Yuthas, the Business Blockchain Certificate is offered for both undergraduate and graduate students from anywhere in the world. The curriculum starts with the basics of blockchain technology, continues with how it can be used for business applications and finishes with how blockchain can converge with other emerging technologies.
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