Cryptocurrencies & Blockchain Technology – A guide for non IT Specialists

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Cryptocurrencies & Blockchain Course Objectives

To separate the hype and hysteria from reality in order to understand exactly what Crypto-currencies and Blockchain are all about.

The Participants:

Anyone with an interest in the subject

Background of the trainer 

Your course director has spent more than 40 years in the banking and financial sector, much of it in a senior managerial/Director role. He is a former Institute of Banking Lecturer, having gained distinctions in the exams. He is a subject matter aspect on all aspects of retail, corporate and global banking, including risk management and regulatory compliance. He has lectured extensively to both leading global financial institutions and to smaller bespoke specialists. He has delivered extensive programmes in all parts of the world including the USA, Europe, MENA, Africa and Hong Kong. He is currently an accredited Master Trainer for Risk and FCC training at the world’s biggest global bank.

Cryptocurrencies & Blockchain Course Content

Session 1 – What is a Cryptocurrency

  • A brief history
  • How do crypto-currencies work
  • What platforms are used
  • The importance of miners
  • Proof of work & Consensus
  • Different crypto-currencies available

Case Study – simple example of how a crypto currency works 

Session 2 –  The Mechanics of Bitcoin and Other Cryptocurrencies

  • How do they work
  • Mining syndicates
  • Coin rewards versus transaction fees
  • Forks to overcome limitations
  • Decentralisation
  • Examples of different crypto-currencies

Session 3 – How to Store and Use Cryptocurrencies

  • Wallets
  • Personal and Wallet codes
  • Intermediaries
  • Using Crypto currencies
  • The smallest division – the Satoshi
  • High profile wallet providers
  • Crypto currency acceptance – the hype
  • Crypto currency acceptance – the reality 

Case Study – examples of what is claimed and what is happening

Session 4 – Cryptocurrencies and Anonymity

  • How does this work
  • Identifying a user
  • Where does it work well
  • Where has it gone wrong
  • Capital flight
  • Money laundering
  • Other Criminal activity
  • Wallet hacking

Case Study – Examples of what has happened so far

Session 5 – Blockchain  & DLT

  • What is a Blockchain
  • Distributed Ledger Technology
  • Blockchain Technology
  • Cryptography
  • Building a Blockchain
  • Using a Blockchain
  • Uses/Effects/Advantages in different sectors -private/ Govt /Para-statal Bodies
  • Principle uses of Blockchain to date
  • Private versus public DLT

 Case Study – Simple examples of blockchains

Session 6 – How might DLT change the world?

  • The claims
  • The possibilities
  • The likely reality
  • The capacity to disrupt
  • The capacity to enhance
  • The threats and weaknesses
  • What is likely to happen in practice

Case Study – examples of what changes are possible

Session 7 – What are the obstacles

  • Key constraints
  • Existing processes
  • Market resistance
  • Client resistance
  • Regulatory resistance

Case Study – Examples of what the obstacles 

Session 8 – Regulation of Crypto-currencies  and Blockchain

  • A “wait and see approach” for nowWho has regulated
  • Bitlicense
  • Swiss initiatives on ICO’s
  • OFAC guidelines
  • The strengths and weaknesses of regulation

END

Cryptocurrencies & Blockchain Course Summary 

Cryptocurrencies are very high profile at present – mainly for the wrong reasons. The founding currency, Bitcoin,was conceived by the mysterious Satoshi Nakamoto following the banking crisis. His/her/their vision was the creation of an alternative global currency, free of governmental and other controls, independent of all financial institutions, traded on a global peer to peer basis in the Cloud. Its settlement system used an established ledger technology called Blockchain which was enhanced considerably by a fiendishly complex mathematical algorithm requiring proof of work and community consensus to achieve crypto resilience.  As originally conceived, Satoshi’s mission has been largely accomplished except Bitcoin is not operating as a medium of exchange in any meaningful way.

The challenge Satoshi could not avoid is that all the features that make a crypto currency highly attractive to the intended user are also very appealing to criminals. This has prompted more unwelcome regulatory interventions than the system intended.

Blockchain on the other hand is exciting institutions because Bitcoin has provided a free field test of its capabilities in probably the most hostile environment. Most serious commentators agree it is a proven, cyber-resilient and highly secure version of Distributed Ledger Technology (DLT) which has so far been impervious to outside attack. All losses on Bitcoin exchanges have occurred through either intermediaries or hot wallets. It is claimed by some very high profile supporters that it has the capacity to revolutionise the way financial institutions manage both payments and their FCC obligations. Its supporters talk in terms of “world changing” possibilities.

This interactive Cryptocurrencies & Blockchain Course describes both Blockchain and DLT in language that the non-IT specialist can understand. It covers the topics in detail, cuts through all the hype and offers a balanced and measured description of the possibilities on offer.

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7 September 2018