Prof. Hahn Jungpil describes blockchain as a “technology of trust” that fundamentally transforms how trust is established among individuals, organizations, and communities. Rather than relying solely on contracts or centralized intermediaries, blockchain enables trust through technology, creating new possibilities for business relationships and financial systems. However, he emphasizes that while blockchain has significant disruptive potential, especially in the financial sector, innovation must be pursued responsibly. Researchers, developers, and policymakers should carefully examine the technology’s boundaries, limitations, and appropriate use cases to ensure that innovation occurs safely and effectively.

Drawing on his research, Prof. Hahn challenges the common assumption that blockchain automatically guarantees decentralization. He explains that although consensus mechanisms such as Proof-of-Stake are designed to promote decentralized governance, real-world implementations often experience forces that lead back toward centralization. He argues that blockchain systems must be rigorously tested under different conditions rather than relying on theoretical expectations. According to Prof. Hahn, blockchain ecosystems are complex adaptive systems with multiple feedback loops and dynamic interactions, requiring researchers to adopt a complexity mindset instead of assuming simple cause-and-effect relationships.

Prof. Hahn also highlights the importance of bridging academic research with practical innovation through the National University of Singapore’s long-standing partnership with Ripple under the University Blockchain Research Initiative. Supported by a renewed US$1 million grant, the collaboration focuses on three key pillars: thought leadership, education, and innovation. He explains that students are encouraged to build, test, and even break blockchain applications to uncover real-world challenges that cannot be identified through theory alone. This hands-on approach has helped strengthen Singapore’s blockchain ecosystem while fostering international collaboration with research partners across Europe and North America.