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Master of Science (MSc)


4 Semester | part-time

7 Block weeks over 3 Semesters + Master-Thesis

Tuition Fee
EUR 35,500

Application deadline
15 September

Programme Start


MSc Blockchain & Digital Assets

Blockchain technology will be the basic infrastructure for finance and capital markets in the future. This includes crypto assets and enterprise DLT solutions. This technology is here to stay, and our students will acquire the necessary competencies and technical foundations to manage purpose and IT-driven organisations experiencing financial, digital and business transformation. The programme is specifically tailored to the needs of managers or professionals who wish to stay fully employed throughout their studies while gaining expertise to develop their businesses further.

Learning Goals

LG 1: Expert knowledge and comprehension of blockchain technology and digital assets to drive blockchain-business transformation

Graduates will have an in-depth knowledge and understanding of the importance of blockchain and similar technologies, their application areas to identify, analyse, and develop digital business transformation opportunities with the technology.

LO 1.1 Students have a deep and thorough understanding of blockchain technology and digital assets to drive business as well as transformation.

LO 1.2 Students have extensive knowledge  about different use-cases and the design thereof.

LG 2: Applying blockchain-driven business transformation

Graduates will analyse the status quo of blockchain and digital assets adaptation and design solutions for blockchain-driven innovation and business transformation. They will apply the technical foundations underlying crypto-currencies. They will consult businesses professionally and proficiently.

LO 2.1 Students are able to create suitable use cases and concepts for blockchain integration and application.

LO 2.2 Students possess the skills and competences to proficiently assess blockchain use-case suitability and support businesses with the transformation processes.

LO 2.3 Students will employ the technical know-how of blockchain transactions with Solidity and Python.

LG 3:  Effective Communication and Cooperation

Graduates will be effective communicators and project leaders in practical business contexts. They will write, programme, present and discuss research-based findings in interdisciplinary fields of business, blockchain and digital assets. Graduates will contribute to team performance.

LO 3.1 Students are clear and constructive communicators.

LO 3.2 Students are able to discuss and develop factual and relevant solutions in teams.

LO 3.3  Students will produce professional quality business documents that are clear, concise and logical.

LG 4: Scientific Self-Image and Professional Behaviour

Graduates will support blockchain business transformation. They will base their professional activities on in-depth scientific and methodological knowledge and they will develop those further. As professional leaders in the fields of blockchain and digital assets, they have a thorough and critical understanding of their ethical and legal responsibilities. They will reflect upon their decision-making processes.

LO 4.1 Students understand the ethical and societal implications of their decisions and recommendations.

LO 4.2 Students critically reflect on their decisions with respect to their ethical, societal and legal consequences.


  • A first academic degree* (Bachelor, Diploma or equivalent)
  • Minimum one year of relevant post-graduation work experience
  • Sufficient written and spoken English** (TOEFL - 90 iBT / IELTS 7.0 or equivalent)
  • Successful participation in our admission interview
  • Basic experience in coding/ programming is an advantage

*Applicants without a first academic degree must complete an eligibility assessment and demonstrate a level of knowledge comparable to that of a first university degree relevant to the intended course of study.

**Language proficiency waivers are possible for candidates, who have completed a previous degree in English, lived in an English speaking country for longer than a year or whose work language is English (confirmation from an employer required).

Deadlines & Discounts

We admit candidates on a rolling basis. Complete your application early and benefit from our early bird discount saving EUR 3,500 on your tuition fees.

Early Bird Discount (EUR 3,500): 31 May 2023
Final Application Deadline: 15 September 2023

  • Compatible with full-time work
  • The lectures take place on our state-of-the-art campus in Frankfurt. In case you are unable to attend on site, we offer you the opportunity to follow the event live online.
  • Frankfurt School is #12 worldwide for Best Business Schools for Digital Transformation and #1 in Germany  according to The Times Higher Education (THE).
  • Excursion to the crypto valleys and blockchain hubs in Zug/ Zurich, Switzerland
  • A combination of technical and strategic skills in a currently traction-gaining topic
  • Join our Entrepreneurship Accelerator or Incubator for personalised mentoring
  • Our lecturers and guest lecturers are experts in their fields and experienced in working with blockchain technology and digital assets
  • An extensive network of industry experts and innovators open to networking

On campus event

Meet us Online and On-Campus 

Learn more about our master programmes and find out which programme could help you excel in your career at one of our Master Info Evenings. 

You may also come and explore our campus and speak to representatives from our master programmes face-to-face, at one of our Open Campus Nights.


This programme will teach you how blockchain builds the infrastructure for future financial markets and how companies can leverage the new technology to provide more security, transparency, efficiency and digitalisation. In order to do so, step one is to cover the technical background such as DLT technology, blockchain, DeFi, tokenisation, digital money, smart contracts and the coding thereof. In the second step, we look at applications for advancing blockchain solutions and the design of suitable strategies as well as their regulation through law and ethics. In the third step, we will identify emerging topics in DeFi and FinTech while understanding their impact on entrepreneurship, sustainability and innovative business models.

Block week 1

Principles of DLT & Blockchain

Principles of DLT & Blockchain

This block week gives the students an understanding of distributed ledger technologies (DLTs), blockchains and crypto assets, in particular their applications. The general concepts of decentralisation, trust, immutability, and consensus are subject to the module’s content. Concerning DLTs, finding appropriate solutions while acknowledging challenges that come about by implementing them in various business domains are also contained. The appropriateness for various DLT, blockchain and crypto asset use-cases as well as their potential risks is part of this module. 

The block week distinguishes between public and private blockchains as well as their suitability for different projects that go beyond crypto assets such as digital money and central bank digital currencies (CBDCs) including the Chinese digital Yuan, the digital US-dollar and the digital Euro. This module touches on the financial infrastructure and regulatory framework of CBDC exploring countries. Storage and processing of information on a blockchain, and how it can provide certain guarantees on safety, security, and dependability which makes it a suitable tool for tokenisation of assets, financial technology (FinTech) and custody of digital assets and securities is explained. Furthermore, further indispensable building blocks for an alternative financial infrastructure such as Ethereum and non-fungible tokens (NFTs) in the context of decentralised finance (DeFi) are also considered.

Bitcoin’s protocol, its mining mechanism, and its connection to game theory are part of this module. During the Bitcoin deep-dive, students are accompanied in building their own Bitcoin Lightning Node with a Raspberry Pi to gain hands-on understanding.

If you do not have any experience or theoretical knowledge in the field of programming, we recommend you to take one of the following introductory classes before completing this module: coursera or udemy.

Philipp Sandner, Jonas Groß, Manuel Klein, Christoph Kreiterling

Distributed Ledger Technology

Blockchain Technology

Public & Private Blockchains

Block week 2

Crypto Assets & Smart Contracts

Crypto Assets & Smart Contracts

This block week further deepens the students’ understanding of Bitcoin and Ethereum and their protocols from a technical, economical, political and social perspective as well as various other crypto assets projects and their purpose. These topics are complemented by smart contracts and thereby brought standardisation and execution of automated streams of data, money and different kinds of assets (e.g., NFTs, digital securities, Bitcoin). Their current use in various sectors, e.g., banking & financial services contracts and digital identity management is furthermore highlighted. This is done by drawing on the parallels and differences between crypto assets and traditional types of investment and organisational structure. 

As for Ethereum, the technical aspects of the network, Ethereum 2.0, and alternative smart contract platforms (e.g., Polkadot, Cardano) are explained. In this context, we consider how crypto assets map to the existing monetary and banking system, drawing direct comparisons between DeFi and centralised finance (CeFi). Explaining the DeFi ecosystem to the students forms the base for understanding digital assets and digital securities and tokenisation in this module.

Sarah Palurovic, Felix Bekemeier, Sebastian van Staa, Cedric Heidt

Crypto Assets

Smart Contracts


Block week 3

Impact of Blockchain Technology on Financial Markets

Impact of Blockchain Technology on Financial Markets

This block week fosters the understanding of digital assets, tokenisation and trading thereof and assets on-chain that can be exemplarily found in the sectors of real estate, finance, art, music and rights. In this context, the difference between tangible, fungible tokens, and NFTs is highlighted to the students. This is done in comparison to the approaches used in centralised ecosystems. Furthermore, the nature of stablecoins, privacy coins, and utility tokens are part of this module thus, gaining insights about the markets for crypto assets as a whole. Their characteristics are equally as pertinent as their application areas, advantages, and disadvantages as well as their role in DeFi. An overview of use-cases and the token ecosystem is given. The overview of the current status quo is supposed to raise students’ awareness for trends and emerging topics, to be able to make educated decisions for the future of financial markets. 

Robert Richter, Philipp Schulden, Thomas Faber, Stefan Schmitt

Tokenisation of Assets

Crypto Asset Markets

Decentralised Finance

Block week 4

Blockchain Regulation & Law

Blockchain Regulation & Law

Within this block week, students are introduced to the interactions between legal requirements, innovation, and society from a company’s point of view. The understanding of the relationship between law and the current adoption of blockchain, crypto assets, and other DLTs is deepened. A comprehensive overview of the legislative framework including Europe’s MiCA, Germany’s blockchain rules and Liechtenstein Token Act is provided for example concerning regulatory affairs and data protection law. Especially, the frameworks for regulating tokens from digital securities to decentral protocols are highlighted. We also include comparisons to the law frameworks elsewhere in Europe (e.g. Switzerland). 

Moreover, pitfalls of regulatory change and the risk of introducing blockchain as part of a company’s strategy are explained. Real-life use-cases in the sectors finance, banking, CBDC (i.e., digital assets, digital Euro, digital Dollar) and Internet of Things (IoT) are outlined by keynote speakers while reverting back to the existing regulatory framework and custodial questions. Ethical and societal considerations are just as much part of the block week as emerging topics, cost-benefit analysis, trends, and the rate of adoption in various sectors.

Johannes Blassl, Matthias Wöllner

Regulation, Law & Ethics

Application of Blockchains

Blockchain Risk Management

Block week 5

Blockchain Strategy

Blockchain Strategy

Throughout this block week, students learn about important considerations when economically and technically designing a blockchain solution fitting a specific entrepreneurial business case and model. It mimics the early stages of startup development and crowdfunding. Additionally, the creation of such a strategy is exemplarily shown. This block week further deals with economic theory to understand the economic impact of DLT-based emerging technologies i.e., crypto & digital assets and tokens. 

Topics such as interoperability amongst blockchain networks and hybrid blockchains and their implications for business are contained. Further examples that are subject to this module comprise instant cross-border transfers and real-time settlements on stock exchanges. Limitations of current blockchain projects and the meaning of scalability for broad adoption, possibilities regarding IoT, and real-life pilot projects are outlined to the students. This block week focuses on fostering transferable skills that are useful for the further course of the blockchain and digital asset studies as well as students’ further professional paths. Students will gain the skills necessary to evaluate the potential of projects regarding solving or facilitating business, environmental, social, and governance problems.

Constantin Ketz, Marcel Kaiser, Benjamin Schaub

Design of Digital Strategy

Applied Economics and Tokenomics

Blockchain Project Evaluation

Block week 6

Smart Contract Bootcamp

Smart Contract Bootcamp

This block week is intended to make students familiar with the basic concepts of programming using both Solidity and Python as programming languages. The fostering of technical understanding is thereby supposed to complement their prior built theoretical and economical understanding of blockchains and smart contracts. Students face programming concepts such as assignments, digital signatures, hash functions, encryption, and branching. During this solely online-based portion of the study, the students analyse a smart contract in a team effort and determine its suitability for a certain operational business problem. This hands-on experience with teamwork-task-approach is supposed to make students gain a more profound insight into blockchain technology, smart contracts and thus, make better informed strategic decisions as a result.

Valentin Seehausen

Blockchain Coding

Block week 7

Choose one of the two electives below

Blockchain in Business 

Blockchain Business Models, Emerging Topics in Fintech & Blockchain, Scalability of Blockchain projects

Students are introduced to token economy, blockchain as a service, blockchain-based software products, and peer-to-peer blockchain models. The approaches that are used to meet environmental, social, and governance goals with blockchain are illustrated. The design of CBDCs and various variants for a digital euro or the digital dollar in real-life is touched on. Topics such as interoperability amongst blockchain networks and hybrid blockchains and their implications for business are contained. Further examples that are subject to this block week comprise instant cross-border transfers, real-time settlements on stock exchanges, and blockchain as an ‘electronic notary’. Limitations of current blockchain projects and the meaning of scalability for broad adoption, possibilities regarding IoT, and real-life pilot projects are outlined to the students. Future applications of blockchain technology such as identity management and distributed data storage are covered in this module. This module aims at making students understand the future implications and potentials of blockchains in FinTech (e.g., instant cross-border transfers, real-time settlements on stock exchanges, accountancy). Furthermore, comprising but not being limited to identity management and distributed data storage and the process of founding a blockchain operating company, business planning and the mechanisms behind funding startups with equity and tokens while regarding noteworthy blockchain-specific growth topics such as scalability and MiCA. Crowdfunding efforts by startups (e.g., initial coin offerings and security token offerings) are also highlighted.

This module is offered by the Master in Blockchain & Digital Assets and open to a limited number of students enrolled in the Master in Data Analytics & Management.

Christoph Kreiterling, Philipp Sandner, Horst Treiblmaier

Digital Strategy

Ethics, Law & Data Protection, Building Digital Strategy

You will critically reflect on what you have learned about digital transformation and data-driven organisations and what this implies on a wider societal level. You will also reflect on how data, organisational goals and organisational transformation can be bound together in a digital business strategy.

This module is offered by the Master in Data Analytics & Management and open to a limited number of students enrolled in the Master in Blockchain & Digital Assets.

Sebastian Köhler

Master's Thesis

Unique Aspects

Siegel Digital Leaders 2022

Frankfurt School is one of the best European Business Schools. Accredited by AACSB, EQUIS and AMBA, the three leading international associations of business schools, Frankfurt School is one of the few institutions worldwide, which has been awarded the so-called "Triple Crown"

Recently, Frankfurt School has also been ranked #12 worldwide for Best Business Schools for Digital Transformation and #1 in Germany according to The Times Higher Education (THE).

Study Structure

Thanks to the dual structure, alternating block weeks and self-study, the Master in Blockchain & Digital Assets programme can be optimally combined with your professional schedule. After the introductory week, the block modules take place once approximately every nine weeks, from Monday to Saturday at Frankfurt School. Between each intensive block week, you will work alone or in groups on study topics that you can choose to base on your own business or real-life cases.

You will then complete your studies with your six-month Master's Thesis and a final conference. Our lecturers and professors accompany you during both phases of study, providing guidance, advice and recommendations throughout the whole programme.

Experts in the Field

Prof. Dr. Philipp Sandner, academic director of the programme, was ranked as one of the top 30 economists by Frankfurter Allgemeine Zeitung (FAZ), a major newspaper in Germany, in 2018 and 2019. His expertise includes blockchain technology in general, crypto-assets such as Bitcoin and Ethereum, the digital programmable Euro, tokenisation of assets and rights and digital identity. He was awarded several scholarships and research prizes. Prof. Sandner has published in international peer-reviewed journals such as Administrative Science Quarterly, Research Policy, the Journal of Marketing Research and the Journal of Business Venturing. His publications can be seen on Google Scholar. Recently, he also edited two books. One book focuses on the implications of blockchain technology on companies, and the other one focuses on the implications for society. More information:

Blockchain Center

The Frankfurt School Blockchain Center (FSBC) is a think tank and research center focused primarily on investigating the implications of blockchain technology. In addition to general research and prototype development, the FSBC serves as a networking hub for managers, start-ups, and experts to exchange knowledge and best practices. The FSBC also organizes educational opportunities for both students and executives, including on-campus courses, workshops, and conferences. 

Currently, the FSBC is focusing on crypto assets, digital securities, the digital euro, CBDCs, tokenisation of assets, decentralised finance (DeFi) and non-fungible tokens (NFTs). 


Smart Contract Bootcamp

Technical walk-through of Blockchain transactions with Solidity and Python, including digital signatures, asymmetric encryption, hash functions, ensuring tamper-proofness and specifically understanding the technicalities behind smart contracts. All of which are used in professional practice.

Photo of screen with data on and hand pointing at it

Crypto Valley

Zug and Zurich, Switzerland, is one of the most renowned crypto and blockchain hubs worldwide. This excursion will give students the opportunity to discuss and network with industry experts and assess the ethical and societal implications of their decisions. This excursion takes place during the 7th block week and is part of the Blockchain in Business elective. It is only offered in person, however there is the Digital Strategy elective that is offered online and on campus that you can choose if you are not able to attend in person the classes.

Photo of Crypto valley with a data veil

You will learn how to build your own Lightning node at home, which will help you to go beyond theoretical knowledge and foster your understanding of blockchain technology and crypto-assets.

Students will also design their own theoretical blockchain solution, which requires them to programme relevant basics of blockchains and critically reflect on their design. Their extensive knowledge about different use-cases and the design thereof is not limited to theory, the implementation of it will let the content of their studies resonate more deeply with them.

Class Profile 2022


Number of students 30
Nationalities 11
Average age 33

Industry Background

Finance 56%
IT 16%
Entrepreneurship 10%
Other 18%


Women 17%
Men 83%

Academic Background

Banking, Finance & Economics 25%
IT, Computer Science, Engineering 18%
Business Administration 24%
International Business & Management 22%
Social Sciences 11%

Learning Experience

Studying at FS

Whilst you will receive a strong theoretical foundation, the programme's emphasis will be on the practical application of methods and theory. As such, a significant proportion of the modules involves teaching by practitioners, with many networking possibilities with relevant blockchain experts. Students will advance in critical thinking and problem-solving strategies, which enable them to apply the knowledge, skills, competencies and methods for their businesses. 

FS Alumni Community

As a student of our part-time degree programmes, the Frankfurt School Alumni Network is available to you. Benefit from the numerous advantages of the FS Alumni & Friends Network, exchange ideas and expand your professional and private contacts. We offer you numerous events and platforms for this purpose, such as workshops, lectures and continuing education programmes.

Continuous Learning

Throughout your professional career, you will continue to develop personally and professionally. We want to accompany you in this process even after you have completed your studies. As alumni, we invite you to participate in one module of your degree programme per year. That way, you can regularly refresh and expand your knowledge and skills.

Career Growth Opportunities

Students participating in this programme aim at deepening and advancing their already sophisticated careers to the next level by adding innovative and revolutionary components, competences and methodology as well as objectives for their businesses. Our graduates are qualified to lead in areas such as Digital Strategist, Digital Asset Management, Growth Management, Business Development, decentralised Application Development, Blockchain Development etc.

Growth Opportunities chart for MBDA students

Network & Career

Our exclusive corporate connections allow you to build a strong network for your career. Our Careers Services team is available to provide you with individual consultations on careers within business and management. This along with our regular guest lectures and company visits, plus the opportunity to work part-time throughout your full-time studies, puts you in the spotlight for employment after graduation.

Connect with your Peers

Our students typically come from consulting and industries with an extensive range of practical and educational backgrounds, opening your network to new areas. During the intensive block weeks, you'll get the chance to exchange thoughts and learn from each other's know-how and practical experience.

Connect with our Corporate Partners

Additionally, our exclusive corporate and alumni connections allow you to strengthen your career network in a wide range of industries while studying. Our Frankfurt School Alumni Network brings together a large number of national and international executives at various events and workshops.

Application Process

The first step of your application process is to complete the online application form. You will need to upload the supporting documents listed below.

Once you have submitted your application with all the required documents, we will process your application. Successful applicants will be invited for an interview within a couple of weeks. That is the second step of the application process. The interview will be held through a video call. The purpose of the interview is to gain a better understanding of your professional and academic experience and discuss your motivations for the programme and goals for the future.

The third step is the Admission Committee, where members of Frankfurt School will get together and make a final decision on your application that will be communicated to you via email or phone. You can expect this final response within approximately 8 weeks after submission of a complete application.

Required Documents

  • CV or resume in English
  • Certified copy of your undergraduate transcript of records and degree award certificate
  • Proof of English Skills, TOEFL - 90 iBT, 577 ITP / IELTS 7.0 or equivalent
  • Proof of relevant professional experience
  • Copy of your passport

Each of the documents listed above are required for completing your application. However, you do not need to upload them all at once.

Deadlines and Discounts

We admit candidates on a rolling basis. Complete your application early and benefit from our Early bird discount saving EUR 3,500 on your tuition fees.

Early Bird Discount (EUR 3,500): 31 May 2023
Final Application Deadline: 15 September 2023


The total amount of Credit Points (ECTS) to be earned with this programme is 60. An additional 60 Credit Points can be awarded by Frankfurt School for up to two years of relevant work experience in the fields of blockchain and digital assets. Please take into account that persons interested in pursuing a doctoral degree in Germany must have accumulated at least 300 ECTS until the completion of their master's studies (exceptions might be made on a case-to-case basis by admission committees). This requirement is not relevant for professional practice.


Your degree is an investment in your professional future. As a business school of international standing, not only do we offer you ideal conditions for earning a degree – we also offer you excellent career prospects.

Since we guarantee the quality of our teaching and research, we expect the highest levels of commitment and motivation from our students.

For this programme, Frankfurt School offers a Diversity Scholarship that is intended for categories of the population that are currently under-represented unfortunately in these fields. For those who do not fit that criterion, there are other external funding options that you could consider to help support you financially.