Blockchain Technology and Cryptocurrencies
Completion requirements
Cryptocurrencies and blockchain technology are some of the means of how technology is entering the financial world. As technology advances, so does the financial products and the provision of these products and services. After watching this video and going through the attached slides, you will learn more about how technology is shaping the world of finance. Is the emergence of multiple non-central bank-backed cryptocurrencies threatening traditional central bank-backed currencies?
Shaping the Financial World
Ground Truths
- Nakamoto solved the payments riddle -avoiding double spending
- Money is but a social & economic construct
- We already live in an age of digital money
- Append-only logs & multiparty consensus provides a peer-2-peer alternative
- Blockchain technology can address verification and networking costs
- Adoption rests on addressing comparative viability & value proposition
- Crypto markets are rife with scams, fraud, hacks & manipulation
- Crypto currencies have evolved into a speculative asset class
- Crowdfunding built on smart contracts & ICOs raised nearly $30 billion
- Lightly & non regulated markets provide retail investors direct way to trade
- The potential, though, to be a catalyst for change is real