Description
LEARNING OBJECTIVE
Understand the impact of cryptocurrencies and -assets on society and the business in general, as well as on commodity and energy trading more specifically.
PROGRAMME:
INTRODUCTION
o Tutor introduction: Milan de Reede
o Today’s programme
o Poll to gauge current knowledge
- What are people most interested in?
- What do they see as biggest issues with crypto/blockchain?
- What aspect of crypto/blockchain do they see as having most potential?
THE STORY OF CRYPTO
o How did it start? Why is this relevant? Why was Bitcoin innovative?
o Advantages and disadvantages
- Efficiency
- Cross-border nature
- Decentralisation
- Volatility
o How does blockchain work?
- Adding blocks
- Decentralised consensus
- Private keys and public keys
o Demonstration of usage
- Creating a wallet
- Receiving a transaction
- Sending a transaction
o Developments in crypto as money
- New consensus mechanisms
- Energy usage
- Speed and efficiency gains
BROADER DEVELOPMENTS
o Crypto as digital ownership
o NFTs: Non-Fungible Tokens (digital titles – title transfer of commodities)
o Smart contracts
PRACTICAL USE-CASES
o Supply chain transparency and security
- Medicine (derived fom crude oil)
- Commodities (NFTs & crypto make supply chain more transparent)
o Tokenisation of physical assets
- Fractionalisation
- Liquidity
o Asset settlement/trade processes
- Eliminating middlemen
- Speeding up settlement times
- Saving on costs (lower fees)
o International money flows
- Country-independent financial network
- Uptime & reliability
o Central Bank Digital Currencies (CBDCs)
- Digital update of cash
- Interoperability between networks
- Consequences for financing (borrowing & lending)
CLOSING:
Issuing your own course certificate on-chain
