While many people still don't understand what blockchain is, Fruzan has finished her Master’s thesis on Entrepreneurial Opportunities in Blockchain from The University of Manchester. Fruzan has recently returned to Guangzhou and has given us some insights on the innovation and tech trend.
Please tell us about your life after AISG.
After AISG I studied Business Management at Indiana University, Bloomington. Then later for the second year, I transferred over to study Marketing at York University in Toronto. Once I completed my Bachelor ’s degree, I decided to go forth with obtaining a Masters Degree in Innovation Management and Entrepreneurship at The University of Manchester, UK.
Could you please tell us how you first got involved in blockchain? What drew you to this cutting-edge technology?
Around November 2017, I noticed the hype online about cryptocurrencies. Everyone was getting involved and buying cryptocurrencies because it appeared to be a quick way of making money. I was tempted to as well but before that, I wanted to understand what the technology behind cryptocurrencies is. That is when I first learned about the term blockchain. After doing minor research about blockchain online, I noticed that information was inconsistent due to the newness of the technology itself. In order to understand the technology and its impact on society I joined Blockchainers. To further develop my understanding I decided to do my Master’s thesis on Entrepreneurial Opportunities in Blockchain.
A lot of people find it hard to understand what blockchain is, is it possible to explain it in a simple way?
At the core of everything in modern day business is data. Currently, all sorts of data whether it is your personal information or the last thing you search on the internet is stored somewhere in a centralized system (one big computer). If you Googled something, then Google has that data. If you went to see the doctor, then the hospital or clinic has that data. You gave that data and now it’s theirs. What happens next with that data? You don’t own it anymore. The data can be altered and manipulated. Their centralized systems can get hacked quite easily because it is all stored in one big computer.
This is where blockchain comes in. In simple terms, in blockchain that data is stored across a network of computers. The data is replicated and stored securely. This makes it difficult for hackers to hack and the data is guaranteed to be immutable to change.
Let’s go back to the case of you going to the doctor. You just got sick and go to clinic A. You go see the doctor and then the doctor records what you’re feeling on the computer. Few months later you get sick again and go to clinic B. This time, the doctor needs information from your previous doctors visit but doesn’t have access to the information from clinic A because the clinic is using a different computer system. Therefore, the doctor has to ask clinic A to send the paperwork which can take days. You as the patient have no idea what the doctor in clinic A wrote.
If data in healthcare facilities were kept in a blockchain, then all doctors would have access to the same set of information about the patient. The access to that information would be controlled by the patient through a digital application. The doctors could access the information immediately once permission is granted. All of your allergies, your blood type. past medical history, medication prescribed could be safely stored in the blockchain.
There is one country in the world that has digital healthcare all stored in the blockchain right now, and it is Estonia. Patients can view their medical history at any time, and doctors know all they need to know about their patients. Essentially blockchain gives you back the power to own your data and share it however you want it to. It is important to note that in different industries, the application of blockchain varies.
What was your responsibility in Blockchainer?
I realized the knowledge gap in blockchain early on. I knew that the only way to learn about blockchain is to meet people who are working with it. Blockchainers at the time was hiring and organized events for educating people about blockchain in various industries. I started off as part of the marketing team and now I am one of the founding members. Our team was quite small, and we grew tremendously. I created various marketing campaigns, one of which was Women in Blockchain. There is a big gender gap in blockchain, with every new technology, there are not many women involved. I was curious as to why and I noticed that it was because they simply did not know about it. Therefore, we launched an online campaign to help raise awareness and get more women interested. This fall Blockchainers is hosting an event to continue the movement.
What do you see the future of blockchain? Are you using blockchain or planning to use blockchain for your business?
Blockchain is still at its infancy stages. It is difficult to say where the technology is headed. In my opinion it will be implemented almost everywhere where data is involved. The most promising industry in my opinion is Supply Chain. As the technology improves, I will definitely use blockchain for my own business.
Anything else that you would like to share?
I am not a blockchain expert by no means. It took me many months just to grasp the basics of the technology. If you would like to talk more about please do get in touch with me!