One of the core objectives of the ACT Global Program is to prepare students to navigate business environments shaped by diverse historical, political, economic, and socio-cultural forces. The Asia Business Context course, taught by Professor Timo Eccarius and Dr. Jennet Achyldurdyyeva, supports this goal by introducing students to the complexity of East and Southeast Asian markets, where rapid economic growth, technological innovation, and distinct cultural dynamics shape business practices.
As part of the program's emphasis on experiential and globally grounded learning, the course regularly invites guest speakers who bring applied perspectives on emerging issues in Asian business. In a recent session, students welcomed Dr. Guych Nuryyev, Associate Professor at I-Shou University, for a guest lecture titled “Blockchain in the Asian Context”.
Dr. Nuryyev, who holds a Ph.D. in Economics from Queen's University Belfast and specializes in energy economics, financial management, blockchain, and cryptocurrency, connected cultural theory with contemporary technological developments, encouraging students to think critically about transparency, trust, and coordination in Asian markets.

Cultural Dimensions of Transparency

Dr. Nuryyev began by examining how transparency operates differently across cultural contexts. Drawing on cross-cultural research, he explained that in individualistic societies, transparency typically exposes individual strategy and reduces opportunistic behavior by making actions visible and accountable. In collectivist contexts, however, transparency tends to reinforce cooperation and group cohesion rather than highlighting individual performance.
This distinction is particularly relevant in Asia, where business relationships are frequently embedded in long-term networks and social obligations. Understanding these cultural nuances is essential for anyone working in or with Asian markets.

Blockchain as Modern Transparency
Building on this cultural framework, Dr. Nuryyev introduced blockchain technology as a contemporary form of transparency. He explained that blockchain's immutable ledger records all transactions permanently, creating a distributed system of accountability that doesn't rely on centralized authorities like banks or governments.
However, he noted an important caveat: blockchain is pseudonymous rather than fully anonymous. While transactions are visible, the identities behind them may not be immediately clear. This raises important questions about how transparency interacts with privacy, trust, and collective behavior in digital business environments.

Asia's Role in Cryptocurrency Development
The lecture also explored Asia's emerging leadership in cryptocurrency adoption and innovation. Dr. Nuryyev highlighted how factors such as digital readiness, extensive cross-border commerce, and uneven access to traditional banking infrastructure have driven interest in Bitcoin and other digital assets across East and Southeast Asia.
The region has become both a major adopter of cryptocurrency and a proving ground for regulatory approaches to digital finance - dynamics that have significant implications for global markets.

From Theory to Practice: Interactive Simulation
To help students grasp these concepts experientially, Dr. Nuryyev concluded with an interactive investment simulation. He created a mock blockchain-based trading platform and assigned each student an account, allowing them to participate as investors in a simulated digital asset market.
Through this hands-on exercise, students observed how blockchain transactions are recorded, how value moves across decentralized networks, and how incentives and speculative behavior emerge in real time. Importantly, students also experienced firsthand how blockchain transparency influenced their own strategic behavior: whether they became more cautious knowing their transactions were visible, or more collaborative in response to observing others’ trading patterns. The activity illuminated not only the technical mechanics of blockchain but also the behavioral and strategic dimensions that drive participation in these systems.

Critical Thinking for Tomorrow's Business Leaders
The session concluded with a thought-provoking question for students: does increased transparency in digital systems strengthen collectivism, or does it fundamentally reshape how collective behavior forms in modern Asian business contexts?
By integrating cultural analysis, technological innovation, and experiential learning, this guest lecture exemplified the ACT Global Program's commitment to preparing students for real-world business challenges. Through discussions like these, students gain the analytical tools essential for understanding and navigating Asia's evolving business landscape.