Yogyakarta – October 29th, 2021
The Guest Lecture is a routine agenda for the Master of Science and Doctoral Program (MD) FEB UGM. On Friday, October 29, 2021, the Guest Lecture session II was successfully held through a Zoom meeting. On this occasion, the topic raised was also related to the previous session, namely “Distributive and Welfare Values of Blockchain-Based Smart Contracts.” The second session was guided by Prof. Dr. Mamduh M. Hanafi, M.B.A., by presenting the same speaker as the first session, namely Prof. Nir Kshetri from The University of North Carolina, USA. Prof. Nir is an academic and researcher who is active in the field of entrepreneurship, then combines blockchain systems.
On this occasion, Prof. Nir re-explained blockchains’ role and how it is implemented in real systems. This blockchain makes it easy and ensures the transparency and security of the data recorded through the code in it. Blockchain-based smart contracts can be easier and realize data decentralization. Various problems can also be overcome by the presence of blockchain in securing and making these smart contracts effective. Data transparency, accuracy of recording transaction agreements, and prevention of data manipulation can be enhanced through the role of blockchain in smart contracts.
Everything that was said by Prof. Nir in the second session of the Guest Lecture was very insightful. There was about the role of blockchain in smart contracts, which emphasizes transparency, effectiveness, and guarantees compliance with rules. Hopefully, this blockchain implementation will increase as a convenient solution. The second session ended with a group photo.