Blockchain, FinTech and Financial Innovation
Ram B. Ramachandran
Semester A – Module 2: 2023 - 224
M.Sc. (Finance)
Classroom: T4-M88
Tuesday: 12:00pm to 2:00pm and Friday 8:00am to 10:00am
Lesson 1
• Introduction
• Course Manual Walkthrough
• Understand Industrial Revolution
• Information Revolution and its Impact
• What is the future?
• Group Project
• Lesson Review
Blockchain, FinTech and Financial Innovation 2
Introduction
• Can you provide examples of technologies you use?
• What are emerging technologies?
• Why as finance and commerce students you have to learn about emerging
technology?
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Highlights of the Course
• Be prepared – complete the pre-reading
• Ask questions
• Will focus heavily on real life examples
• Non technical to the extent possible
• Books can be bought or used in rotation from the library – limited copies
• Course will rely on a mix of class discussion contribution, Assignments, and Group
Project – and of course capstone project!
• Course will provide a leg-up to many of your competitors
• Learn and have fun!!
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Learning Objectives
• Understand the array of emerging technologies that impact our personal and
business life
• Explore the mechanics and details of areas – Fintech, Blockchain and Financial
Innovation
• Develop a business case or strategic roadmap project that provides as a capstone
project
• Exhibit the qualities of leadership and teamwork
• Write a paper/develop a presentation on the application/impact of Financial
Innovation
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Administrative Reminders
• Check your email daily and respond as required
• Prof. Ram’s Contact – ram@jgu.edu.in; +1 (732) 598-8949 or +91 99993 60609
• Office Hours: TBD by appointment
• Pre-read materials and come prepared for class
• JGU takes copying, plagiarism, and discipline very seriously; This includes all forms of
digital creation and copying (e.g. ChatGPT, Synonym Generator), copying from published
and unpublished material without due references, sharing material from other students etc.
• Assessment
Assessment Task Weightage Nature Date of Assessment
In-class Quiz -1 25% Individual 31 October 2023
In-class Quiz -2 25% Individual 14 November 2023
Group Assignment - Presentation 30% Team 18 November 2023
Group Assignment – Written Paper 20% Team 24 November 2023
Submission
Blockchain, FinTech and Financial Innovation 6
Industrial Revolution (IR)
Industrial revolution can be traced to the origins of humankind
• Prehistoric: Fire, Wheels, Tools for hunting
and scavenging
• First IR: Metal forging, Steam engine, mass
production of textiles
• Second IR: Steel production, Petroleum, and
electricity; Bulbs, Telephone, Paper making,
~ 2010
Combustion engine ~ 1969 (Now)
~ 1870 Third IR Fourth
• Third IR: Beginning of digital revolution,
Second IR
personal computer, internet IR
~ 1765
• Fourth IR: Emerging technology like Robotics, First IR
3D printing, Artificial Intelligence
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Industrial Revolution (IR) Impact
Helped improve human efficiency and productivity
Working Conditions, Factory System, Living Conditions,
Urbanization, Health and Life Expectancy,
Globalization, Capitalism and Socialism,
Wealth and Income, Family Definition,
Pollution and Environment
Fourth IR
Third IR
Second IR
First IR
Emerging Technology: Impact on Future of Business 8
Industrial Revolution Impact
Some illustrations
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Income Distribution Impact
Money changed hands during and after Industrial Revolution
• Economic Productivity
and Standards of Living
between countries and
across time – PPP
• Top 5 economies in the
world today by GDP
are US, China, India,
Japan, and, Germany
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Information Revolution and its impact
Information revolution is creating a new social order beyond the outcome of industrial revolution
• Nuclear Age, Computer Age, Space Age…
• It increases productivity and efficiency • Democratization of Information
• Integration of related systems, technologies, and • Displaced/Knowledge workers
markets • Technocratic State
• Capacity to transform the society
• Acceleration of information age is exponential
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How is technology changing our life?
Technology is ubiquitous and changing the way we live and function
Consumer Behavior Market Acceptance
• Smart devices offer peace of mind • Driverless Vehicles
and convenience • Alternate forms of Energy
• Wearable shape consumer lifestyle • Alternate forms of delivery
• Fulfillment drives seamless customer • Enhanced mobile bandwidth
experience demands
• Avoid unwanted Ads • New Design and development
techniques
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What is the future?
Evolution of information Technology has just begun
Trends Challenges
• Every business will be in an • Human – aged population
information business • Ethics – genetic modification
• Mass customization • Cybersecurity
• Automation • Lost cities
• Connected Human Beings • Singularity??
• Services instead of Technology
• Workforce globalization
• Collaboration and Team work
Are you prepared?
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Group Project
Financial Innovation in Real Life
• Each team will be required to take one global or domestic Financial Institution
(FI). Examples include JP Morgan Chase, HSBC, PayTM, PolicyBazaar, Bajaj
Finance, Visa, ICBC etc.
• Your team will conduct a current state assessment of the technologies used by
your company
• Your team will determine the appropriate technology innovation and growth
models to leverage for forecasting the future strategies to be adopted by your
FI.
• Your team will develop short-term, medium-term and long-term plan for your
FI in terms of technologies to be leveraged and how it will help them remain
competitive and grow
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Project Teams
• Team #1: Abhishek Tiwari, Pranav Suresh, Rupal Jain
• Team #2: Atandri Pragyan, Pravee Agrawal, Sakshi Raman
• Team #3: Kartheek Kusum KVP, Sansar
• Team #4: Karthik Sivakumar, Ritik Lall, Stelino BS
• Team #5: Kirti Jha, Ritika, Udit Dhawan
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Key Takeaways
• Lesson 1
• Changing dynamics in the industry due to Industrial Revolution
• Technology is at the nascent stages of evolution
• All business and commerce will be run by information and technology
• Develop a targeted career plan
• Next Lesson
• Historical Perspectives of Financial Innovation
• Concept of Money
• Evolution of Money. Digital innovation in India
• Reference [pre reading materials]
• Chapters 2 and 7: Financial Services in the Twenty-First Century by John JA Burke
Thank you!
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