Demystifying Cryptocurrencies in the 4th Industrial Revolution
“Bitcoin, blockchain, initial coin offerings, ether, exchanges are now the innovations in payments and financial services shaping the 4th Industrial Revolution”, said by Mr. JB O. Doria.
To demystify cryptocurrencies (digital money) as one of the transformations of payment systems or digital financial transactions which are trending nowadays, the PSU-Asingan Campus led by the indefatigable Campus Executive Director, Dr. Armando D. Junio conducted another webinar entitled ‘Cryptocurrencies (Digital Money) in the 4th Industrial Revolution’, together with the crypto enthusiast OIC-Dean in the College of Technology and Business, Mr. Jb O. Doria, July 27.
“Cryptocurrencies are a special kind of digital money, which are controlled by cryptographic algorithms. The word ‘crypto’ is a kind of digital money that exists within a blockchain network, a network that some consider more secure than any other since there is no oversight from financial authorities. Cryptocurrency is mined, traded, or bought, and kept in digital “wallets” until the owner is ready to spend or redeem it. The common examples include Bitcoin, Ethereum, Litecoin, and Ripple”, Mr. Doria elaborated.
Mr. Doria also discussed the advantages as well as the disadvantages of the cryptocurrencies to inform the participants of the said seminar that investing digital money require complex security protocols in order to safely store them to avoid hacks and scams.“
Driving digital payments transformation, digital money allows people to send and spend money online, across borders, or even through social media applications, however, it is important to thoroughly study the security protocols to keep your digital currencies safe”, a supporting statement from Dr. Lobien S. Soriano, Chairman of Business Administration Program.