According to an announcement published by the Bahrain Institute of Banking and Finance (BIBF) the institute is launching the country’s first “Blockchain Academy”. The Bahrain Institute of Banking and Finance was established in 1981 in the Kingdom of Bahrain after the approval of the Specific Council for Vocational Training. The BIBF is an unregistered non-profit and semi-government institution that gives training in the financial sector.
The announcement for Bahrain’s first Blockchain Academy purportedly signifies the country’s first ever institute offering a professional qualification program in blockchain technology. The training programed is geared to equip the students with the knowledge to earn the international qualification of Certified Blockchain Professional C|BP and was developed by the Bahrain Institute of Banking and Finance and MyLearning Key which is a training firm based in Dubai.
The qualification of Certified Blockchain Professional C|BP is awarded by the Institute of IIB Council which is a United States Based organization. The course is designed to bring the qualified personnel up to the level required by the industry while forming the global standards in the Blockchain Industry.
The coursework for the Certified Blockchain Professional provides a complete and thorough analysis of the blockchain technology and its applications in everyday life. The certification is made up of three knowledge and competency areas in Blockchain Technology: Development, Implementation and Strategy. Students will not only be made familiar with multiple blockchain implementation concepts and ideas but they will also be exposed to a thorough and unique guideline for adaptable and sustainable blockchain development through the utilization of quantum resistant ledgers.
Moreover the BIBF will also offer a series of Master classes, through the Blockchain Academy, that will look after the education of not only the IT professional but also of the business professionals from multiple levels in order to enable them to acquire the necessary knowledge and potential effective implementations of the blockchain technology in their organizations.
Dr. Ahmed Al Shaikh, Director BIBF, stated that the organization had developed the Blockchain Professional Qualification so as to cater to the increasing demand for skilled and qualified professionals. The Head of IT Operations and Project Management, Ahmed Naeemi said that the new venture aimed at supporting business and organizations as they undertake new technologies like blockchain.
As the role of information technology is evolving towards digital innovation and transformation, the Blockchain Academy is one of our new initiatives in an attempt to support businesses and organisations with their digital transformation plans.
A study by U.S. crypto exchange Coinbase, published on August 28th this year, showcased results showing that 42 percent of the top fifty universities in the world had at least one course related to or on cryptocurrencies or blockchain. The results also showed that only five of the eighteen universities reviewed that were operating outside of the United States offered at least one class pertaining to these areas. Blockchain is a combination of theory and practice and can result in fundamental breakthroughs through research. It can have a significant and large scale impact on society in many different industries as has been shown through previous applications of the technology. Considering the importance of blockchain technology in the development and improvement of existing processes several educational institutions across the globe are opting to include studying blockchain technology into their curriculums.
Bahrain’s government, in September, had urged increased vigilance in cyber security along with stressing the importance of blockchain technology in the country’s economy. Bahrain’s Minister of Electricity and Water Affairs Abdulhussain Mirza, passed a statement saying that that “technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions.
Other initiatives pertaining to blockchain studies and development include a recent partnership between Bitfury, a multi-sectoral blockchain company, and the Plekhanov Russian University of Economics for the formation of an incubator and accelerator for various blockchain projects. The university will not only help in developing blockchain projects, but also provide educational programs devoted to “training specialists who are able to create innovative projects using digital technologies in a short time.”
Similarly the University of Tokyo is also aiming to put into motion a blockchain course following a donation of approximately $800,000 from various companies, including leading Japanese bank Sumitomo Mitsui (SMBC) and the Ethereum Foundation. According to a press release, from November 20, the SMBC listed five additional contributors namely: Good Luck 3, JSS, Zipper, Hotto link, and Money Forward. The press release also stated that the educational course named “Blockchain Innovation Donation Course” would be three years long, in the graduate school of engineering at the University of Tokyo, as having started on November 1, 2018 and end on October 31, 2021. The course is formulated for students looking to enter the blockchain world as entrepreneurs. It focuses on advancement in decentralized solutions, their applications in daily life, and human resources.
Such educational initiatives by institutes and organizations all around the world will be a catalyst in modern developments in the blockchain technology and prove to be pivotal in streamlining our existing technology and processes. Increasing education in this area will also increase awareness among the public and develop a better understanding of the technology which would in effect help in chalking up suitable regulations better than the ones already in effect.
