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Ahmed Banafa: “The Blockchain Wave in 2019 and Beyond” Part-1

One name that stands out among the many Blockchain gurus is that of Ahmed Banafa. Not only has he authored books like Secure and Smart Internet of Things (IoT): Using Blockchain and AI, he has now begun teaching a course on Blockchain in the reputed Stanford University, titled, An Introduction to Blockchain Technology and Its Applications.

Professor Ahmed  has received several awards for his work. Banafa studied electrical engineering at Lehigh and has taken courses on cybersecurity at Harvard.

Hereunder are some important excerpts from his webinar on “The Blockchain Wave in 2019 and Beyond”.

Prof. Ahmed Banafa: elected by LinkedIn as Technology Fortune Teller and LinkedIn Influencer in 2018 • Named No. 1 TopVoice To Follow in Tech by LinkedIn in 2016 • Media Expert in new tech with appearances on ABC, NBC

Hot trends in Technology

According to Prof Ahmed, anyone who has expertise in any of the following 4 technology areas can easily find a lucrative job in any Silicon Valley technology major

Blockchain Developer No.1 Job Potential

In Professor Ahmed’s assessment, a Blockchain developer is the number 1 emerging job. He quoted LinkedIn’s 2018 Job Report in support of this

He also used the following image to illustrate his point that a Blockchain evangelist is the hot expert these days

Blockchain Most Confusing for SMEs

Among the emerging technologies, in the professor’s view, Blockchain is the most confusing for small and medium enterprises. Hence, there is a great need for more experts to educate the market.

Blockchain Courses  Catching up in Major Universities

Some of the big names have started classes in Blockchain, and 4 universities even have a degree in Blockchain, the professor stated. He himself teaches Blockchain in Stanford. MIT is big on Blockchain and they have their own lab, he pointed out.

Blockchain in the Technology Radar

Pointing to the technology radar published by Atos, shown below,  he stated that in 2019 Blockchain will make a big impact. An important observation Prof Ahmed made at this point was that in the Silicon Valley in particular one cannot separate technology from business. He gave the example of Zuckerberg and others who were essentially programmers, but with the success of their products they moved to managing business.

How Blockchain Interacts with Other Trends

Prof Ahmed used the following infographic to show how Blockchain overlaps with and interacts with different trends and thereby helping other emerging technologies achieve their purpose.

Who’s Investing in Blockchain

The fact that some of the biggest venture capital companies are investing in Blockchain shows that it will be a big thing in the future, said Prof Ahmed. The infographic below was used by him in his webinar with telling effect. He also mentioned that the biggest investments are happening in the San Francisco Bay Area followed by New York.

A Quick History of Blockchain

In the midst of the webinar, the professor brought in an infographic from Accenture to demonstrate that Blockchain is not something very new, since it is essentially a growth of Distributed Computing that was well-known in the 1990s. It was in 2009 that Blockchain was introduced to the world with the publication of the seminal paper by the famous Japanese, Satoshi Nakomoto, said Prof Ahmed. He recommended that students must read his paper. He also pointed out that Blockchain reached its maturity as a technology in 2016-2017.

Blockchain Life-cycle by Market Size

Using the following candid infographic from McKinsey Company, the professor sowed that Blockchain is still struggling to emerge from the pioneering stage. He said that it is poised to enter the Growth Stage, but no one knows when it will actually enter the growth phase.

What’s in the Next Part:

In Part 2 we will cover the professor’s insights into the challenges in Blockchain implementation, Blockchain technology stack, Blockchain Decision Path, Blockchain Use Cases, Future of Smart Contracts, and the like. Stay tuned.

2019-02-04T13:02:00+03:00February 3rd, 2019|Blockchain|0 Comments

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