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Understanding and Using Cryptocurrencies and Blockchain

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Before starting this self study program, please go through the instructional document.

Overview

  • What is money
    20 mins
  • Centralized vs decentralized paradigms
    35 mins
  • Blockchain introduction
    58 mins
  • Cryptographic hash functions
    85 mins
  • Transaction inputs and outputs
    110 mins
  • Most common consensus models
    136 mins
  • Select a cryptocurrency exchange
    196 mins
  • Bitcoin transaction fees
    238 mins
  • The future of blockchain and cryptocurrencies
    304 mins

Course Description

Since the emergence of Bitcoin in 2009, the world of cryptocurrency has advanced leaps and bounds throughout the world. What began as an unproven concept is now considered by many as the future of currency. But how did we get this far, and what’s happening next in the world of cryptocurrency? Let’s take a look at some of the currency’s defining moments and what that means for the future. In this Online CPE webinar we will understand how a digital currency became so widely popular, it’s first necessary to realize what that digital currency is. In this online CPE webinar we will explore concepts of Cryptocurrencies, blockchain technology, their history, and construction. 

Just the way we keep cash or cards in a physical wallet, Bitcoin can also be stored in a wallet i.e. a digital wallet. The digital wallet can be hardware-based or web-based. The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys and addresses used for access on paper. In this online CPE webinar we will explore the fundamental concept. This CPE webinar will help in learning practical use of how to setup a wallet in case of cryptocurrency and its transactions.

As more companies consider investing in digital assets, leaders have much to consider about the nature of these instruments, the risks, and the benefits involved. In 2020, more operating companies began allocating cash to digital assets and Cryptocurrencies. This is a new dynamic and a departure from more conventional investing by funds and others in this space. In this online CPE/CE webinar we will also explore the accounting rules related to Cryptocurrencies. This covers current US GAAP and, IFRS intangible asset. The CPE webinar will also discover if Cryptocurrencies can be considered as a cash substitute or an investment; how this will impact in your company’s pension plan; and forecasting with respected to cryptocurrency with technical analysis. 

Not only is Bitcoin the first cryptocurrency, but it’s also the best known of the more than 5,000 Cryptocurrencies in existence today. In this CPE webinar we will explore about Ethereum - the second most popular cryptocurrency; and Altcoins - alternative Cryptocurrencies to Bitcoin as well. 

The crypto world is changing quickly, and regulations are coming from many areas. Their growing prevalence raises challenges for regulators who are faced with questions around financial stability and preventing money laundering and the funding of terrorism. To combat these crypto-crimes, regulators need to work alongside technology experts be forward-thinking to design laws that are fit for purpose.

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. We will explore the impact and changes that the quantum computing might bring in 5, 10 or 30 years in this online CPE session. 

Major topics covered in this online CPE session:

  • History of digital currency
  • What is cryptocurrency?
  • Fundamentals of Blockchain Technology
  • The importance of Cryptography
  • Construction of Cryptocurrencies
  • Setup a wallet
  • Open an exchange account
  • Transact in Cryptocurrencies
  • Redeem to fiat currencies.
  • Impact of Cryptocurrencies on balance sheet and as an investment
  • Role of crypto in portfolio creation
  • Are all Cryptocurrencies alike from an investment perspective?
  • Bitcoin, Ethereum, and Altcoins

Learning Objectives

  • To discover an extremely short history of Digital Money: From Digital Fiat Currency to Cryptocurrencies and beyond.
  • To explore the theory and principles by which blockchain work.
  • To identify cryptographic building blocks (“primitives”) and reasons about their security.
  • To discover how blockchain and cryptographic blocks can be used to construct simple Cryptocurrencies
  • To recognize how cryptocurrency can be stores and used in real world
  • To differentiate between fundamental blocks like Wallets, Exchanges and Security
  • To setup a wallet and incur transactions in the wallet and identify how exchanges in fundamental blocks works
  • To explore how to treat cryptocurrency on the face of financial statements
  • To discover future of Cryptocurrencies 
  • To decide risk and reward with respect to Cryptocurrencies
  • To learn about Bitcoin and the Curse of the Double Spend Problem
  • To explore how Bitcoin, altcoins and Ethereum works and what are their protocol’s fundamental components
  • To discover frauds /scams and the current environment in the era of the crypto world
  • To identify the role of central banks in the marketplace and how banks are yet catching up with the new crypto world
  • To explore the importance of strict regulations in the practical world in the presence of cryptocurrency
  • To identify why blockchain and cryptocurrency is a powerful technology, where the technology is going, and who is driving the innovation
  • To explore how to use and protect blockchain and Cryptocurrencies in a non-financial sector, and where does private/enterprise blockchain come into play
  • To identify 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 decade

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Finance Pros
  • Senior Accountant
  • Staff of Accounting Firm
  • VP Finance
  • Young CPA

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