Cryptocurrency and Digital Currency: The Future of Money with Bob Bench and Puneet Singhvi
The future of money will be here faster and be more diverse than you think. What are cryptocurrency and digital currency? The terms are not synonymous. While all cryptocurrencies could be considered digital currencies, not all digital currencies need to be official sovereign-backed currencies. Official digital currencies are issued by the central banks of a nation-state that oversees the banking system in that country–such as the Federal Reserve in the U.S. Whereas, in the case of cryptocurrency, there is no single issuing authority. Cryptocurrencies are usually developed by teams as a piece of code used for issuance through ‘mining’. Creation, as well as use, is maintained through a distributed ledger. They transmit value across a decentralized network of users. Thus while digital currencies are centralized, cryptocurrencies are decentralized. Confused? Hang in there. This program will bring together representatives from the public and private sector for a discussion that aims to address–the different forms of digital currency; the role of blockchain in digital currency; the developing regulatory framework; the value in including digital currencies and fintech in an investment portfolio, and more.
