This course is part of the Blockchain Revolution in Financial Services Specialization

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Blockchain Revolution in Financial Services SpecializationINSEAD

About this Course

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The current global financial system is riddled with inefficiencies, uneven developments, and bizarre contradictions. Blockchain technology has the potential to bring about profound changes to financial services. In this course, you will learn how blockchain technology will disrupt the core functions of the financial services industry, offering individuals and organizations alike real choices in how they create and manage value.

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Course 3 of 4 in the

Blockchain Revolution in Financial Services Specialization

Beginner Level

Approx. 15 hours to complete

English

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What you will learn

Identify eight functions of the financial services industry and explain how blockchain will disrupt each of these functions
Describe how blockchain will transform the roles of financial managers and the CFO
Describe the inefficiencies associated with global payments infrastructure, and the solutions blockchain technologies could offer
Identify the threats and opportunities of blockchain technology for central banks

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Course 3 of 4 in the

Blockchain Revolution in Financial Services Specialization

Beginner Level

Approx. 15 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructors

Instructor rating

4.69/5 (39 Ratings)

Don Tapscott

Adjunct Professor

104,831 Learners

16 Courses

Alex Tapscott

Instructor

104,635 Learners

15 Courses

Offered by

INSEAD

As one of the world's leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to develop responsible leaders who transform business and society.

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Syllabus - What you will learn from this course

Week1

Week 1

3 hours to complete

Rethinking Financial Services

Today’s global financial system full of inefficiencies. In this module, you’ll learn how blockchain technology has the potential to disrupt the core functions of the financial services industry, and for the better. By the end of this module, you’ll be able to describe six inefficiencies in the financial services industry. You’ll learn how blockchain technology can be leveraged to do things better, on cost, speed, risk management, innovation, and adaptability. You’ll be able to identify eight core functions of the financial services sector, and explain how blockchain can disrupt these functions—cutting out the middleman or causing them to radically change their operations for the better.

3 hours to complete

9 videos (Total 49 min), 5 readings, 4 quizzes

9 videos

Course Introduction Video3mInstructor Introduction8mModule 1 Overview2mSix Inefficiencies in Financial Services9mThe Golden Eight Part 14mThe Golden Eight Part 24mInsurance6mThreat and Opportunity for Incumbents8mRecap of Module 12m

5 readings

hypothes.is10mRethinking Financial Services10mThe Golden Eight10mInsurance10mThreat and Opportunity for Incumbents10m

4 practice exercises

Six Inefficiencies in Financial ServicesThe Golden Eight30mInsurance30mRethinking Financial Services30m

Week2

Week 2

4 hours to complete

Accounting and Financial Management

Human error is a common cause of accounting mistakes. Lack of transparency allows greed to flourish. People can “cook the books” to hide their wrongdoings, and double-entry accounting can’t always handle new business models, like micro-transactions. In this module, we’ll explore how triple-entry accounting on a blockchain can solve these problems. Shareholders, auditors, and regulators could access a World Wide Ledger to check a company’s health and compliance in real time. We’ll also explore how CFOs and financial management can balance the hype and the hope of blockchain technology, and make key decisions about blockchain for their enterprise.

4 hours to complete

12 videos (Total 61 min), 5 readings, 4 quizzes

12 videos

Module 2 Overview4mDecentralizing the Enterprise6mPractitioner Perspective - Andreas Wallendahl: Blockchain & ConsenSys1mTransaction Costs and the Structure of the Firm8mOpportunity 1: Search6mOpportunity 2: Contracting5mOpportunity 3: Coordination4mOpportunity 4: Building Trust4mProblems With Modern Accounting4mThe World Wide Ledger9mThe CFO3mRecap of Module 23m

5 readings

Decentralizing the Enterprise15mTransaction Costs and the Structure of the Firm10mOpportunities for Blockchain10mNew Frameworks for Accounting15mThe CFO20m

4 practice exercises

Transaction Costs and the Structure of the Firm30mOpportunities for Blockchain30mNew Frameworks for Accounting30mAccounting and Financial Management30m

Week3

Week 3

3 hours to complete

Global Payments and Prosperity

The global payment system is the lifeblood of world commerce. In the Internet era, the sluggish pace, high cost, and opacity of international funds transfers, both corporate and consumer, have been a source of frustration. In this module we’ll explore the ways in which blockchain technology can improve the speed and lower the cost of global payments. We’ll consider how decentralized models of finance and the emerging cryptoasset class will leave incumbents—banks and digital conglomerates alike—scrambling to avoid obsolescence and irrelevance. With stewardship and responsible leadership, blockchain will usher in a new era of financial services that is more open, inclusive, efficient, secure, and free. If we get this right, new economic systems will emerge to generate greater prosperity for the many, rather than more wealth for the few.

3 hours to complete

6 videos (Total 34 min), 4 readings, 4 quizzes

6 videos

Module 3 Overview4mInternational Clearing and Settlement5mRethinking Central Banking8mStablecoins7mEconomic Inclusion & Prosperity6mRecap of Module 33m

4 readings

International Clearing and Settlement20mRethinking Central Banking20mEconomic Inclusion & Prosperity20mReview of Global Payments and Prosperity10m

4 practice exercises

International Clearing and Settlement30mRethinking Central Banking30mEconomic Inclusion & Prosperity30mGlobal Payments and Prosperity

Week4

Week 4

5 hours to complete

Blockchain Regulation and Governance

Blockchain alone is just a tool. In order for this technology to fulfill its long-term promise, humans must lead. Rather than relying on state-based institutions, blockchain must be primarily self-governed through collaborations of civil society, private sector, government, and stakeholders in non-state networks. In this module, we discuss the idea of blockchain governance networks and explain how they can support blockchain stewardship at three levels: The platform level, the application level, and the ecosystem level. As well, you will learn about the conditions that are necessary for a blockchain-based hub of innovation to succeed.

5 hours to complete

17 videos (Total 103 min), 3 readings, 4 quizzes

17 videos

Module 4 Overview3mIntro to Blockchain Regulation11mPractitioner Perspective - Andreas Wallendahl: Regulation1mFundamental Questions9mRegulatory Principles10mPractitioner Perspective - Massimo Morini: Regulation2mPractitioner Perspective - Hariton Korizis: Regulation2mRegulation vs. Governance9mPractitioner Perspective - Ana Trbovich: Regulation & Governance1mThe Blockchain Stack7mMultiple Layers of Blockchain Governance7mA New Framework for Blockchain Governance12mPractitioner Perspective - Rob Carter: Governance1mProfile of a Blockchain Hotbed4mRecap of Module 45mThe World in 2030 / What Can We Do?7mCourse Wrap-Up Video2m

3 readings

Blockchain Governance30mProfile of a Blockchain Hotbed20mLeadership for Transformation20m

4 practice exercises

Fundamental Questions30mBlockchain Governance30mSeven Conditions for Success30mBlockchain Regulation & Governance30m

Reviews

4.7

29 reviews

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TOP REVIEWS FROM BLOCKCHAIN TRANSFORMATIONS OF FINANCIAL SERVICES

by RTNov 7, 2020

Coming from Financial Services Field -the course was quite relevant, accurare and powerful in the ideas it shared about the future of the industry and the important components thereof.

by MRMar 8, 2022

This course gives a better idea how the technology Blockchain can contribute to the Finance Industry

by ASJul 3, 2020

An enlightening and eye-opening course which gives very useful insight into the potential and current progress of blockchain in financial services.

by DSSep 3, 2022

For anyone looking to add new skills and knowledge to their repetorie regarding blockchain technologies, this is the course to look into.

View all reviews

About the Blockchain Revolution in Financial Services Specialization

As the Internet was the first digital medium for information, blockchain is the first native digital medium for value. Blockchain is poised to transform the economy and society at large—redefining the ways we transact online, share ideas, and manage workflows. The financial services sector is a key lever in such transformations.

This four-course specialization introduces learners to the world of blockchain technology for financial services—including what blockchain is, how it works, and why it is revolutionary. Students learn about various categories of cryptoassets and the ways they can be transacted on a blockchain. They learn how blockchain is transforming the economy and society at large—redefining workflows, global payments, and prosperity. As an outcome of this specialization, students produce a Strategic Action Plan wherein they identify and evaluate a promising application of blockchain technology within the financial services industry. The Specialization is taught by Don Tapscott and Alex Tapscott, globally-recognized authorities on innovation and technology and authors of the best-selling book, “Blockchain Revolution.” It also includes various industry experts and practitioners who will share their experiences within the blockchain ecosystem.

Blockchain Revolution in Financial Services

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

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Blockchain Transformations of Financial Services

About this Course

What you will learn