WIBcast's Crypto Crash Course Part 1

In this episode of WIBcast, I am breaking down the buildup of crypto assets with Boston College Professor Anna Karpovsky. In between teaching courses about financial technology and data analytics, Professor Karpovsky has been following and studying the rise of cryptocurrencies like Bitcoin and Ethereum. We talk about the flaws in traditional banking that inspired the shift towards decentralized finance, and Professor Karpovsky explains where the value of something like Bitcoin is derived from. She explains that the goal of decentralization is to eliminate borrowing and lending fees and democratize how we exchange money in a global economy. There is a unique cultural angle involved in crypto assets too. Professor Karpovsky brings up the movement away from sentimental banking. Younger generations seem less and less nostalgic when looking back on their first credit card, and while this aspect of culture will be helpful for large-scale adoption, we also talk about what is causing hesitation. Volatility is a major consideration and without a tangible coin to give or receive, there are concerns that Bitcoin may be subject to gamification by inexperienced investors. We end with an in-depth yet digestible discussion about what is driving price, the safety of the blockchain ledger. The goal of this episode is to close the information gap between who is talking about crypto in media at large and who is learning how to leverage the advantages. This is certainly an episode I walked away from with a lot of new knowledge. Thank you to Professor Anna Karpovsky for taking the time to speak with WIBcast!