Hey there, Skill Miner is online. In the past, I had quite often this devastating feeling of being late to catch up on something. Actually, it is almost never too late to start something new. At least before you kick the bucket. All of you have most probably heard about the blockchain technology. But how much do you really know about it? Recently I have found a very good tutorial that draws clear lines about this and cryptocurrencies. I am talking about the course Blockchain for Business: The New Industrial Revolution on udemy.
It will give you an exhaustive overview of what the blockchain is, its principles, potential and current applications and how and why it is going to disrupt some industries. This course is not for programmers or developers. It is solely for people, who want to get a broad overview from one source and save time. To catch up, I would say. Let’s have a closer look. Is it too late to get aboard?
I have just recently finished a course dedicated to blockchain with a feeling of slight disappointment. Too general, too superficial. No new skills or knowledge in the end. Not too expensive luckily. I wanted to define the frames or borders within which I can explore this industry. At that time I came across of an absolutely new tutorial on Udemy made by 365 Career and decided to try again. This time getting 94.5 out of 100 satisfaction level. First of all, there are no real skills you can develop with this course BUT – you will be equipped with quite an exhaustive volume of information.
The course starts with giving a general idea about blockchain and cryptocurrencies. First of all, based on some historical background you will see that the idea is not a new one. It is typical for any development. Almost all the areas of knowledge have their ups and downs. Many of them have to be postponed. Usually, because the industry is not ready to use them in general. They are too advanced for the moment.
The course is designed as a set of presentations with a background voice and animation. The voice is quite monotonous and made me quite often bored. Had to fight and urge to sleep. But the information provided is of a high quality. After giving a historical flashback on blockchain the tutorial gives a good explanation of money as a mean of exchange. How it appeared, evolved and what is the current state of the art in regards to currencies. The main idea here is to link cryptocurrencies to the fiat once. To show that cryptocurrencies based on blockchain technology are the next logical development step in this area.
One of the most popular naysaying addressed to crypto is that it doesn’t have any real value behind. Well, after the cancelation of a gold standard fiat money itself is also just pieces of colorful paper or even worse – just numbers and digital signals passing through banks software. Nevertheless, it has various value depending on the country. It is TRUSTED and AGREED that it has this level of value. And keep in mind that cryptocurrencies like bitcoin can’t be printed. They obey strict protocols of creation and have limited supply. Therefore you can’t emit 100K extra Bitcoins to cover a breach in the budget.
This is the most technical part of the course. The section gives an overview of Bitcoin – the first blockchain cryptocurrency. How it works and so on. It will explain what is blockchain, cryptography, consensus, P2P network (peer-to-peer) and software code base terms are. What are in a simpler way – a decentralized network protected by cryptographic tools, where direct transactions without intermediary are possible and everything is processed via computations. Here you will also get understanding of the mining concept. And what is a reward? And how miners ensure security and stability of the system.
In a similar way, the course introduces Ethereum. It has a title of a Blockchain 2.0. Its new features like for example Turing complete programming language and smart contracting enabled many of other developers to create their own products. You will learn a bit about ERC20 platform and some of the altcoins created based on it. Here the course will also introduce you ICOs (Initial Coin Offering).
This is, where the most exciting part starts. After getting a concentrated review of the whole technology the course guides you through use cases. And here blockchain is going to disrupt many industries. You will get an overview of Private Blockchains with Monero, ZCash, and Dash privacy coins. You will get an overview of one of the biggest joint projects called Hyperledger with such huge players like IBM, J.P. Morgan, Daimler, Airbus and etc.
As many of us know – the first application of blockchain and cryptocurrency is peer-to-peer money transactions without the 3rd trusted party. The absence of this party saves our money on commissions and fees. Of course, blockchain could not pass by financial segment. The course gives a hand full of use cases in this segment. Investment and commercial banking, insurance and some words about financial regulators and their attitude to the crypto space.
Consumer goods sector
Here what is really important is the insight into supply chain management systems. Blockchain can really revolutionize (and is revolutionizing already) this segment. Combined with the Internet of Things sensors capabilities and smart contracting from Ethereum it will allow to follow-up complex operational processes in the companies. What will lead to increase in quality and reliability of goods? In the tutorial, you will also find some great use cases.
Such giants of the digital world like Google, Amazon, and Facebook may very soon face serious competition from similar platforms empowered by blockchain technology. The last section of the course will also give you a good general overview of developments in this area.
Blockchain Skills to Mine
I am going to modify this traditional section and to rename it into knowledge to mine. This type of a course doesn’t really develop any of your skills. It increases the level of awareness. Here you can find an explanation for how I do my evaluations.
I can recommend this course, it is definitely not a waste of time and money. You will catch up on the industry trends and it will be easier for you to follow up. For those who are absolutely new to this industry and has absolutely no idea what the blockchain is, I also recommend to read this review here and probably start from there. Or you can explore some YouTube channels. And finally! Welcome on board of a blockchain locomotive!