How Blockchain Technology is Changing Business

March 8, 2019 4:23 pm
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Sam Penfield, Advisory Product Manager at SAS and Joe Green, Associate Chair of the Department of Management and Entrepreneurship, provide an introduction to Blockchain technology and its impact on business.

Blockchain was first described in 1991 by Stuart Haber and Scott Stornetta as a methodology to timestamp documents, and only became popular with the introduction of cryptocurrency in 2008. Blockchain technology promises a major disruption to well-established intermediaries including banks, insurance companies, and digital adverting corporations (e.g. Google). In this presentation we will explore what block technology is and how it is expected to change businesses moving forward.

Sam Penfield is on a mission to connect, integrate, develop, build, architect solutions that combine SAS technologies, user driven requirements, open-source technologies, and external system amalgamation. With 20+ years’ experience as a consultant and 30+ years developing software Penfield has a true passion for programming languages and problem solving. Recently, Penfield has worked in an emerging technologies group helping with integrating Spark with SAS, prototyping SAS product enhancements and over the last 2+ years has focused on Blockchain technologies and the integration of SAS from a regulatory, data management, and real-time analytics perspective including AI and deep learning.

Joe Green, in addition to his university responsibilities, maintains consulting engagements around Big Data; Enterprise Architecture; IT Strategy; and emerging technologies. Green has spent over fourteen years in senior leadership positions within financial services for Bank of America, Capital One, and Wells Fargo. In addition to financial services, he has served in consulting for the last five years with the following organizations: McKinsey & Company, SunTrust Banks, and J.P. Morgan. Currently, Green is serving on a three-year commitment on a joint task force student-level data (enrollment, degree, and course). This project will result in validating the SAT/ACT scores as an early indicator to college success and machine learning around factors of student success and post-graduation outcomes. Research is underway to allow students access to their comprehensive education record, which will be hosted through Blockchain technologies.