Imagine handling 31 billion electricity transfer transactions annually, with the volume expected to quadruple within two years. Consider another scenario, where various financial institutions repeatedly undergo the process of Know Your Customer (KYC) document verification each time a customer switches bank. Now imagine a real-world asset program requiring automation from fundraising to investment management, reporting, payments, secure document sharing, and tax operations. Finally, reflect on the creation of a digital twin, where AI replicates a persona so accurately that its virtual appearance becomes indistinguishable from reality.

Although these four scenarios appear distinct, they share a common driving force: a technology often spoken about yet seldom fully understood. Welcome to the world of blockchain, a transformative technology that frequently reveals a general lack of comprehension. Introducing the nuances and dynamism of blockchain was Lars Seier Christensen, who presented a CEO Dialogue at the Chulalongkorn School of Integrated Innovation (CSII) on March 21, 2024.

“It is not often that transformative technologies emerge. The advent of the internet, personal computers, smartphones, AI, and blockchain are all prime examples,” Lars stated while addressing an audience of CEOs, corporate leaders, experts, faculty, staff, and students at CSII. A critical aspect of blockchain is its unique approach to treating and storing data compared to traditional databases. “In blockchain, the data is secure, immutable, and impervious to manipulation or tampering,” Lars emphasized. “Moreover, there is no need to trust the individuals managing the database as blockchain is inherently decentralized. This combination of security, immutability, and decentralization makes it suitable for various applications, such as the previously mentioned examples of electricity transfer transactions, KYC in banking, real estate management, and the creation of digital twins.”

While avoiding the stance of a blockchain maximalist, Lars underscored the numerous potential applications of blockchain technology. “Every data-driven business stands to benefit from blockchain, given its security against manipulation,” he informed his audience. An exemplary use of blockchain is in creating a “Self-Sovereign ID,” which allows individuals to control their identity, prevent misuse, and maintain privacy. Blockchain also shows promise in fundraising, where tokenization plays a key role. Moreover, blockchain not only enhances security but also democratizes access, making it more reachable by a broader audience. In his capacity as CEO of Seier Capital and co-founder of Saxo Bank and Concordium, Lars Christensen is currently engaged in offering a blend of regulatory compliance and crypto innovation, providing a stable and secure digital currency experience for users and investors alike.

The talk followed an interactive discussion featuring prominent CEOs based in Thailand accompanied by AI experts. CSII Executive Director Professor Worsak Kanok-Nukulchai welcomed the speaker, emphasizing the school\'s commitment to staying ahead of the curve in technology and innovation, particularly in the face of a rapidly evolving global landscape. Dr. Poomjai Nacaskul, faculty member at CSII moderated the discussion. Attending the event were experts from the LB&A Consortium that has partnered with CSII to harness the power of AI to transform educational methodologies and empower future generations. The first version of CSII\'s AI Platform for students will be released in the coming weeks and subsequently opened to students at Chulalongkorn University.

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