What do tokens, smart contracts, mining, time stamping and blockchain technology all have in common? They are all essential parts of the complicated cryptocurrency industry, a new enterprise that is rapidly transforming global financial markets and the transaction landscape.
Cryptocurrency is a digital asset designed to work as a medium of exchange. It uses encrypted data to secure financial transactions, make them transparent to users, and verify the transfer of assets.
Since the creation of the first cryptocurrency, Bitcoin, in 2009, more than 4,000 other alternative coins have been created. The worth of major cryptocurrencies fluctuates wildly, with values varying from near zero to more than a million dollars per unit.
Today on Can Do: Lessons from Savvy Montana Entrepreneurs, we are joined by two Montana-based experts on cryptocurrency and blockchain technology. Dr. Michael Braun is a University of Montana Business Professor, author, entrepreneur, and former investment banker. Chirag Patel is the digital asset manager at Glacier Coin Capital, and has personally raised and managed more than $6m for investment in the cryptocurrency market.
Together, they will share their exciting experiences and cautionary tales, and attempt to demystify this complicated and confusing new phenomenon.