WILLIAMSBURG — Two graduate students from the University of the Cumberlands who received research grants to study emerging blockchain technologies recently published their findings.
Greg Solt (Columbus, OH) and Arunkumar "Arun" Azhagudurai (Chicago, IL) are both students in Cumberlands University's Master of Science in Global Business with Blockchain Technology online degree program. In the summer of 2022, they received a $6,000 research grant from Phemex, a crypto exchange located in Singapore, to study innovative topics related to blockchain. For months, the two students participated in a custom blockchain research module and worked one-on-one with Phemex staff to explore topics related to smart contracts, blockchain applications, and their potential for integration into other sectors such as supply chain and IoT (Internet of Things). .
Greg Solt published his findings in an article titled “Tracking Bourbon on the Blockchain”. As his article states, “The alcohol industry has developed two large and lucrative markets in recent years…Since this market has grown so large, it has become a larger counterfeit market for bourbon and wine. The counterfeit market steals millions and millions of dollars from suppliers and consumers every year. This document will explain the use of blockchain technology and how it can help track these bottles. 1
Using its research on Internet of Things (IoT) sensors, mobile technologies, radio frequency identification (RFID) and the Ethereum blockchain and smart contract capability, Solt provides insight into how how these technologies can bring greater accountability, visibility and efficiency to the bourbon and wine industries.
Arun Azhagudurai's article has four parts. As the introduction explains, “The first part will explore the concept of Industry 4.0 and how it has evolved over time. Part two will discuss eight key emerging technologies that have the potential to disrupt the economy as we know it today. Part three will discuss sustainable frameworks for smart cities by looking at sectors such as healthcare, supply chain, manufacturing, finance, insurance, and real estate. Part four will connect the eight essential technologies and the concept of smart cities to how they can help evolve and sustain a living ecosystem for Industry 4.0. »2
Azhagudurai noted the rapid expansion of digital technologies in recent years and how technological advancements are "reshaping the social and economic landscape around us". 2 Since technologies are here to stay, he decided to study them and find ways to best utilize them for the benefit of mankind in various sectors.
The University of the Cumberlands online Masters in Global Commerce and Blockchain Technology program is offered year-round at one of the lowest prices in the country. Learn more at www.ucumberlands.edu/academics.
1 — https://phemex.com/student-foundation/papers/bourbon-blockchain
2 — https://phemex.com/student-foundation/papers/industry4