Introduction to Cryptocurrency

Introduction to Cryptocurrency

Internet Currency

Before Paypal money people had two options to send money, by checks or interbank transfers.  Checks were slow and interbank transfers were expensive.

The Birth of Blockchain

The precursor to bitcoin was m pesa in Kenya, which came from a company called Safaricom.  M pesa allowed people to send money over the phone so that they no longer needed to carry cash for transactions.  Blockchain was invented in 2008 by bitcoin's enigmatic inventor Satoshi Nakamoto.

2nd Generation Blockchain

Ethereum and other similar tokens with many uses became popular.  There are many possible uses for blockchain in the world of infomation storage and technology.  Many tokens have arisen for specific purposes as well as access to computing power.

Uses of Blockchain

We look at potential uses for blockchain technology in many different fields.

Buying, Selling, Trading and Mining

In this lesson we look at how people create and trade digital currencies.  People can create currencies by mining and increase their holdings by buying and selling or invest long term by holding.

Cryptography and the Open Ledger

The primary purpose of this is to quantify - for example it can be used to count the number of firms, and the number of workers, creatively employed in any given location, and hence to identify places with particularly high concentrations of creative activities.

Scams and Security

Scams and security issues are very common in the world of crytocurrency.  Mis information abounds and security breaches are common.

Quiz/ Assessment

We go through your options on creating evidence and showing knowledge for this class.  You will have a number of options to show knowledge for this class.

Course Materials