Cryptocurrency Demystified

Jonathan Reichental

Recording: YesLanguage: EnglishDuration: 45 min / 15 minSession rating: 3.9/5 from 19 participants
Cryptocurrency Demystified

Session Summary

This interactive talk builds the context and shares insights on cryptocurrencies, which is one of the most exciting developments happening right now. In this session, you will learn the essential, core concepts of how cryptocurrencies are created and managed.

In plain-English, the topic will be demystified and it will cover how the underlying technology works including mining, the role of cryptography, how to buy and sell cryptocurrencies and how to get started. For this session there are no prerequisite knowledge or skills required.

Participants will walk away inspired and empowered with actionable knowledge, ready to explore this topic more extensively.

Interaction

During the expert session, Jonathan Reichental engages the audience through a live demonstration, using examples to explain the concept of trustless and permissionless systems in blockchain technology. He also incorporates a Q&A session to address audience questions regarding cryptocurrencies, such as the sudden loss of value for Terra USD.

Using the Mentimeter app, Jonathan encourages interactive exercises to help attendees grasp the importance of cryptography, public and private keys, and miners' roles in maintaining blockchain integrity.

Key Learnings

Discovering the Power of Blockchain

Gain a solid grasp of how blockchain functions as a decentralized distributed database, ensuring secure and transparent transactions without relying on a centralized intermediary or server.

Securing Digital Transactions with Cryptography

Understand the significance of cryptography in securing digital communications and transactions using examples of public and private keys for verification and document security.

Navigating the Cryptocurrency Marketplace

Learn about the trustless and permissionless nature of blockchain technology, keeping in mind the volatility and changes within the marketplace while prioritizing the importance of safeguarding your private key to prevent potential losses.

Detailed session description

In this expert session, Jonathan Reichental delves into the intricacies of blockchain technology and its role in the burgeoning world of cryptocurrencies. Contrasting centralized networks with their decentralized counterparts, he elucidates how the latter's distributed nature ensures immutable transactions and remarkable transparency, making it particularly valuable for auditors and accountants.

Beginning by explaining that while cryptocurrencies utilize blockchain technology, they are not one and the same, he goes on to describe traditional centralized networks where a single computer manages access and storage of data. In contrast, blockchain employs a distributed network where power and authority are dispersed among all participating computers, rendering transactions unalterable and providing unparalleled transparency.

To further illustrate the concept, Jonathan employs the example of Bob sending Bitcoins to Alice and Carlos without addressing the double-spend problem first. By implementing a decentralized distributed ledger (blockchain), all participating computers are updated with these transactions, rendering it impossible for any individual to falsely claim ownership of Bitcoins.

Exploring the trustless and permissionless nature of blockchain technology, Jonathan underscores its potential for inclusion and access to financial services for the unbanked population. He also delves into the historical significance of cryptography and explains how it plays a pivotal role in securing digital transactions and data through the use of public and private keys.

Moreover, he introduces the concept of miners, explaining their essential function in processing transactions and adding new blocks to the blockchain database to prevent fraudulent behavior and ensure system integrity. The session then shifts focus to Bitcoin's role as a trusted network for secure transactions and its solution to the double-spend problem through the underpinnings of its blockchain technology.

Jonathan concludes by acknowledging the dynamic nature of the cryptocurrency marketplace, emphasizing caution but also encouraging experimentation in this volatile and rapidly changing industry. He highlights the importance of safeguarding one's private key to prevent potential losses.

The session also addresses the sudden loss of value for Terra USD, a stablecoin pegged to an actual currency, with Jonathan suggesting that any issues might be related to the organization behind it.

Before you book

Questions about Cryptocurrency Demystified

Is this session interactive, or do people just watch?

It is interactive, and the block above says exactly how for this session. Nobody has to speak up who does not want to: the chat and the polls carry most of it, and the questions can come in anonymously.

Is this for beginners or for people who already know the subject?

This interactive talk builds the context and shares insights on cryptocurrencies, which is one of the most exciting developments happening right now. In this session, you will learn the essential, core concepts of how cryptocurrencies are created and managed. It is built for a general working audience: no prior knowledge is assumed, and people who already know the subject get the research and the practical side rather than an introduction.

Is Jonathan the right expert for this?

Jonathan Reichental is one of the experts we auditioned ourselves, and we produce every session so we see how each one lands. Participants rate this session 3.9 out of 5, across 25 responses, and rate Jonathan personally 4.2 out of 5.

How long does it take, and what do we have to prepare?

It runs 45 min / 15 min: the talk, then live questions. All you do is pick a date. We brief Jonathan, produce the session, host and moderate it, run the Q&A, and send you the report within an hour of the end.

Who can join, and where does it run?

A team, a department, an employee network or every single employee at once, with no cap and no per-seat price. It runs inside your own Microsoft Teams, Zoom or Google Meet, or on a branded page we build. No integration, no login, no company device or e-mail.

Can our global colleagues follow it?

The session is delivered in English. You can add high accuracy live subtitles in 8, 16 or 24 languages, so everyone follows in their own. That is a paid option, priced by the number of languages you need.

Will our IT department have a problem with this?

No, and that is by design. There is nothing to install, nothing to integrate and no connection to your systems, so there is nothing for IT to validate: we join your own Teams, Zoom or Meet as a guest speaker, or we host a page and your people open a link. No software, no accounts, and no data of yours that we can reach. It is why hundreds of companies, among them some of the largest technology and financial firms in the world, were able to start within a day.

How does this work under GDPR?

We never receive or hold personal data about your employees. Because the session runs in your own environment, attendance and identity stay with you, and what we report back is aggregated: numbers, ratings and survey answers, not people. That is also why IT approval usually takes minutes rather than weeks.

What do we get afterwards?

You keep the recording and can share it internally. You also get attendance over time, participant ratings for the content and the speaker, the survey answers, and the topics your people asked for next.

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