IE Business School has launched #IEToken, a pilot program based on blockchain technologies and cryptocurrencies
The School, which enjoys international renown for its commitment to applying technologies to the learning process, created #IEToken Waves for the purpose of the program. The directors of IE’s International MBA Startup Lab have given 10,000 tokens to each student to invest in cryptocurrencies and work on creating value on a collaborative basis.
The project team explained that the #IEToken Project is a pedagogical experiment whereby students learn to create value within a technological environment based on blockchain. “The students feel responsible for the project because they are personally involved on a collaborative basis to drive value creation, given that if a student increases the value of the token everyone will benefit.”
Students who take part in the International MBA Startup Lab develop business plans as part of the learning process. On completion of the program, the projects are presented to investors who, for the first time, can now invest in them using #IETokens.
The 2.4 million tokens issued are all in students’ hands. Some 70% have been given Startup Lab students, and the remaining 30% have been placed in a portfolio which will be used for a social project selected by students of IE’s International MBA Social Impact initiative, aimed at strengthening collaboration among students and promoting social projects.
The #IETokens are available to anyone and are listed on a decentralized exchange. This means that IE’s International MBA students can develop the project anywhere in the world given that they can receive offers from any country. “We want students to understand what value means and to learn to create it from scratch,” says Asier Arranz, Director of IE Business School’s Technology Lab. “It is also a way for business school students to understand and use advanced blockchain tools, a skill which will be very much in demand in coming years.”
“Innovation consists of creating new experiences. This is the perfect moment for future entrepreneurs to learning how to generate value for their firms using new technology tools,” says Sugata Jain, Associate Director of IE Business School’s International MBA Program.
“Career journeys in a changing world are shaped by an environment of disruptive trends in which the skills employers are seeking are changing quickly, with blockchain being one of the leading buzzwords these days. It is important to understand the plethora of opportunities created and the implications, as well as how blockchain can be applied to both business and social challenges.” Executive Director of IE Career Services.
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