Day 10 – The Blockchain and Chemistry

Today we visited the University of Nicosia, where we were lectured by the CEO and two other professors. Antonis Polemitis, the CEO of the university, taught about the implications of blockchain and cryptocurrency in the supply chain. As many fear blockchain, Polemitits assured Blockchain is a valuable asset and will not fall flat. He compared the current uncertainty of Crypto and the blockchain to the period after the dot com crisis. Sadly he only briefly mentioned how blockchain could affect the supply. Put simply, the blockchain prevents using paper and storage and is visible to all companies involved. In other words, the supply chain becomes a decentralized database with complete transparency for every party involved. But again, we didn’t get too in-depth about the blockchain, and because we were rushed, we didn’t get to ask for further information.

The subsequent two presentations were on Machine Learning, forecasting, and data analytics in general. They were taught by two highly knowledgeable professors from whom I learned the amount of nuance in forecasting and analytics. Machine learning then came into play and combined all the nuances of the field and created efficient algorithms. These algorithms can be used in the supply chain to minimize costs and overall time. We saw this come into play when visiting Eurogate the other day as they implemented a machine-learning system to manage the crates.

Our final stop was at the Univesity of Nicosia Lab, where we investigated three labs. The first research proteins were found in an organic organisms, such as sea cucumbers and scorpions native to Cyprus. The following lab practiced manufacturing prescription tablets, and the final lab analyzed the contents of various inorganic chemicals. Most of the information went way over my head since it’s not my area of expertise. But it was interesting to note that being on an island has prevented large businesses from sponsoring the research in these labs.

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