Seminar on Industrial Revolution 4.0: Data & Blockchain

Deprtment of Business administration successfully hosted a seminar on "Industrial Revolution 4.0: Data & Blockchain" at Professor Dr. Abdul Mannan Choudhury Auditorium, WUB on May 24, 2023. The chief guest was Professor Dr. Abdul Mannan Choudhury, the Honorable Vice Chancellor, World University of Bangladesh. The special guest was Professor Dr. M. Nurul Islam, Pro-Vice Chancellor of the World University of Bangladesh. The keynote speaker was Mr. Zia Uddin Mahmud, Chief Operating Officer of Creative Business Group, and the speaker was Mr. Shaikat Majumder, Blockchain Technology Specialist at Creative IT Institute. Dr Selim Ahmed, Associate Professor and Head of the World School of Business, presided over the session.

During the seminar, the experts highlighted the importance of data in today's digital age and how it has become a valuable asset for individuals, businesses, and governments. The speakers explained that blockchain is a decentralized and distributed ledger that allows for the secure and immutable recording of transactions or data across multiple participants or nodes. The students were introduced to the concept of smart contracts, which are self-executing contracts with predefined rules embedded in the blockchain. The experts explained how smart contracts can automate processes, reduce the need for intermediaries, and enhance the efficiency of transactions.

Moreover, the seminar shed light on the potential applications of blockchain beyond cryptocurrencies. The experts explored its role in supply chain management, healthcare, finance, and identity verification. They discussed real-world use cases where blockchain has been implemented successfully, highlighting the benefits of increased transparency, reduced fraud, and improved traceability. The experts also addressed the challenges and limitations of blockchain technology. They discussed scalability issues, energy consumption concerns, and regulatory hurdles that need to be overcome for widespread adoption. They emphasized the importance of striking a balance between innovation and regulation to harness the full potential of blockchain while ensuring legal and ethical compliance.

In conclusion, the seminar on data and blockchain provided students with a comprehensive understanding of blockchain technology and its implications for data management. The seminar also encouraged the students to explore and contribute to the evolving field of blockchain technology.