The Future of Blockchains and Cryptocurrencies

Learning Objectives

• To learn why blockchain and cryptocurrency is a powerful technology, where the technology is going, and who is driving the innovation
• How to use and protect blockchain and cryptocurrencies in a non-financial sector, and where does private/enterprise blockchain come into play
• To learn what is the environmental impact of cryptocurrency mining
• To explain the capabilities and limitations of blockchain technology
• To discuss the effect of quantum computing in the next few decades

Course Description

In recent years, cryptocurrency—and in particular, Bitcoin—has demonstrated its value, now boasting 14 million Bitcoins in circulation. A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward.

The most popular cryptocurrency, Bitcoin, has had volatile price moves this year, reaching nearly $65,000 in April before losing nearly half its value in May. In recent weeks, the price of bitcoin was back in the $45,000 range. On the other hand, you must be wondering, what is blockchain technology and how does it work?

Blockchain sometimes referred to as Distributed Ledger Technology (DLT), makes the history of any digital asset unalterable and transparent through the use of decentralization and cryptographic hashing.  A simple analogy for understanding blockchain technology is a Google Doc. When we create a document and share it with a group of people, the document is distributed instead of copied or transferred.

In this CPE webinar, James Helik and Irene Katzela will walk you through various aspects of Cryptocurrencies and blockchain technology. You will be able to discover how cryptocurrency can be stored and its practical usage in real world. The treatment of digital currencies on the face of the balance sheet will be explained. You will also be able to explore various currencies like Bitcoin, Ethereum and Altcoins.

Cryptocurrency has become a global sensation in recent years, although a lot is still to be understood about this maturing technology. Many questions and concerns are swirling around technology and its capacity to disrupt traditional financial systems. Blockchain is an emerging technology, so predictions are still mixed about its potential. 

In this online CPE Webinar course, you will able to gain knowledge about capabilities and limitation of blockchain technology and different aspects to it. Various environmental impacts will be considered for cryptocurrency mining. We will also be discussing the impact and changes that the quantum computing might bring in 5, 10 or 30 years.

Is bitcoin bad for the environment? Unlike most forms of currency issued by single entities (usually central banks), Bitcoin is based on a decentralized network. Its transactions are approved by different miners who simultaneously solve complex equations using specific hardware and plenty of energy. It delivers the promise of lower transaction fees than traditional online payment mechanisms – such as MoneyGram, TransferWise or Western Union – and, unlike government-issued currencies, it is operated by a decentralized authority thanks to the use of blockchain technology.

Overview

• Dex and Uniswap

  4 mins
• automated market maker

  7 mins
• Liquidity Pools

  10 mins
• What is Oracles?

  16 mins
• Blockchain and Interoperability

  24 mins