Study Business in the #1 City for Startup Activity
Miami, a mecca for international commerce and tech entrepreneurship, continues to flourish as a new hub for cryptocurrency and blockchain innovators. Local leadership, notably City of Miami Mayor Francis Suarez, has actively cultivated a favorable regulatory environment for technology startups and established companies alike, allowing for a growing tech ecosystem that today calls the attention of industry players across technology and innovation sectors.
- Venture deals in the Miami area have risen considerably, with $3.5 billion raised across 234 transactions—nearly triple 2020’s dollar amount—according to PitchBook data.
- Billion-dollar managers have opened or expanded offices in Miami, including Steven Cohen’s Point72 Ventures, Blackstone, Thoma Bravo, and G Squared.
- SoftBank launched a $100 million fund for Miami that has since grown to more than $250 million.
Miami Herbert’s Role in the Miami Momentum
As a premier education institution in the region, the University of Miami’s Patti and Allan Herbert Business School is committed to preparing future leaders with the knowledge and decision-making skills necessary to enter and thrive in the growing arena. Miami Herbert Dean John Quelch leads curricula and programming to reflect business technology as a key pillar of business evolution, implementing an understanding of the subject across programs with the help of world-ranked faculty within the School’s own business technology department.
“We are not only looking at what is happening in the city in the short term but also at what is happening long term in business communities worldwide,” says Business Technology Professor Robert Wayne Gregory, referring to disruptive technologies that gain strength around the globe. Government officials in El Salvador, for example, have already adopted cryptocurrency, based on blockchain technology, as an official form of monetary exchange.
Among programs keenly designed to meet the increasing reliance on technology within business, Miami Herbert’s flagship full-time Miami MBA program carries a focus on technical and analytical areas as well as general management, hence equipping students with the skills to steer all aspects of an enterprise including finance, governance, and risk assessment.
Miami MBA Embraces FinTech
New this year are two new courses with a heavy emphasis on cryptocurrency and blockchain.
In one of the courses, Technology and Innovation, students learn to identify the connections between innovations and relevant regulatory systems. Blockchain, for instance, enables opportunities in digital transformations but also carries limitations and risks amid developing regulations in a still emergent industry.
“If you are innovating blockchain technology, you are essentially operating in a space with significant uncertainty,” says Gregory, who teaches the course. “MBA students need to learn how to make decisions in such a context. They need to understand the opportunities and also the regulatory issues and risks because they are going to have to manage these once they take any managerial position in the blockchain industry.”
The second course, Blockchain and the Internet of Value, provides an understanding of the current direction towards Web 3.0, a new form of decentralized connectivity based on blockchain technology that enables the tokenizing of creator data, essentially returning creative control to the user.
The Internet of Value
Course professor Ola Henfridsson, a Schein Family endowed chair and professor of business technology, calls the movement “more democratic, hopefully leading to a world in which creation is valued and not exploited.”
“Currently we have top tech companies monetizing information about us as a business model for advertisers, but we can already see how that market is crumbling. Web 3.0, or the Internet of Value, will offer new business models in which creators will be able to close the gap between ownership and control,” he explains.
The Internet of Value (IoV) is about the immediate transfer of value between individuals or organizations without needing an intermediary or middleman such as banks and network providers, leading some corporate players to see the technology as a threat. However, what is seen as a threat can also be seen as an opportunity for business creativity and innovation.
“It is always the case,” Henfridsson points out. “That’s innovation. It will disrupt industries. It will trade something new and replace something else, but hopefully with more value created.”
In addition to the targeted courses, students seeking a career in cryptocurrency or blockchain receive the benefit of learning in the epicenter of industry activity with reach to major events, like The North American Bitcoin Conference, Miami Tech Week, eMerge Americas, and the upcoming Bitcoin 2022. Students also enjoy networking and mentorship opportunities, often including connections to alumni working in the field.
“I cannot think of any other place in the world than Miami that would be a better fit if you want a career in this industry,” Henfridsson says, adding that the advent of blockchain has set into motion the fastest adoption of any technology since the internet.
“Going into crypto right now is like going into the internet space in 1997,” he says.
The Future Leaders of FinTech
Get the complete industry knowledge you need to succeed in today’s tech-driven business environment with an MBA from Miami Herbert. Join like-minded professionals and world-ranked faculty in exploring the future of blockchain, cryptocurrencies, and the digital asset industry.
Your Tomorrow Starts Here With an MBA. Start your journey today and apply!
Located in the #1 city for startup activity, Miami Herbert is a multicultural business hub where possibility lives and the future is shaped. Gain and maintain a competitive edge with experiential curricula that truly go beyond the classroom to equip students with real-life skills. Our #8 world-ranked faculty have developed programs thoughtfully designed to help graduate students position themselves for continued growth and career success. Wherever your tomorrow is headed, it starts at Miami Herbert.
