Will the future bring pyramid scams like OneCoin?
From the hobbies and technology experiments of enthusiastic preachers of digital technologies and central-bank-suspecting extreme liberals to bank-backed and central bank regulated tools that have already roused the interest of highly conservative investors and payment service providers.
Professor of Information Systems Science Matti Rossi and Professor of Finance Markku Kaustia discuss what the expansion of this practice will mean from a technological, regulatory and financial point of view. For example, Bitcoin has demonstrated many strengths and weaknesses in cryptocurrencies: it consumes enormous amounts of energy and is too slow for mass transactions and too volatile for value preservation. At the same time, however, it is a very fast and cheap way of transferring money across borders and an attractive investment target for a wide range of operators.
Will the future bring pyramid scams like OneCoin, or stable digital currencies with very low transaction costs operated by central banks or global companies? We will discuss the risks and opportunities of cryptocurrencies, particularly in terms of technological opportunities and the real world constraints of money and payment systems.
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The seminar on 1 October
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