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Here, we’ll explore the exciting world of digital currencies like Bitcoin and Ethereum. These currencies are becoming a big part of the global economy, and we’ll focus on how they’re making an impact right here in Canada. You’ll find videos, websites, and images to help you understand what digital currencies are, how they work, and the risks and benefits they bring. Whether you’re just starting to learn about them or want to know more, this Padlet will help you see how digital currencies are shaping the future of money.

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Video #1 – Introduction to Digital Currencies

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Video #1 – Introduction to Digital Currencies

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This video explains what Bitcoin is and how it works as a digital currency that doesn’t rely on banks or governments. It covers the basics of blockchain, the technology behind Bitcoin, and talks about its benefits, like being secure, transparent, and less dependent on traditional banking. It also points out some challenges, such as its unpredictable value and issues with regulations.

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What is Bitcoin for dummies - A simple explanation for beginners

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Website #1 – Canadian Digital Currency Framework

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Website #1 – Canadian Digital Currency Framework

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This website looks at how the Bank of Canada is working on plans for Central Bank Digital Currencies (CBDCs). It talks about how these digital currencies could work alongside cash, making financial services more accessible for everyone. The website also addresses important concerns like privacy and cybersecurity, showing how these issues are being considered in the development process.

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We’ve been exploring a digital form of the Canadian dollar, also known as a central bank digital currency (CBDC), to be ready in case it is needed in the future. Find out about the research we completed and about what we’re focused on as the payments landscape evolves.

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Website #2 – Cryptocurrency Regulations in Canada

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Website #2 – Cryptocurrency Regulations in Canada

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This website gives an overview of cryptocurrency rules in Canada, including tax laws, trading platforms, and anti-money laundering requirements. It explains how Canada is working to balance encouraging innovation with keeping strong regulations in place.

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Regulation of Crypto Assets - Canadian Securities Administrators

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Regulation helps protect investors The regulatory framework regarding crypto assets and Crypto asset Trading Platforms (CTP) is developing and evolving. This can leave purchasers, speculators, and investors confused about when and if securities regulations apply. Registration helps protect investors because registered firms and individuals are subject to certain requirements including risk management, disclosure, and dealing…

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This video explains Ethereum, one of the top digital currencies, and its unique ability to run smart contracts. It shows how Ethereum is different from Bitcoin, highlighting how it can be used for creating decentralized apps. The video also talks about practical uses for smart contracts in industries like finance, healthcare, and supply chains.

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Ethereum 101: Understanding Ethereum and Smart Contracts

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Website #3 – Environmental Impact of Cryptocurrency Mining

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Website #3 – Environmental Impact of Cryptocurrency Mining

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This website looks at the environmental impact of Bitcoin mining, like how much energy it uses and the carbon emissions it produces. It also explores potential solutions, such as using renewable energy and creating more efficient algorithms to reduce its impact.

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Nunavut mine fined over 2018 death of haul truck driver | CBC News

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Baffinland Iron Mines Corporation must pay $170,000 in relation to the 2018 death of a mine worker who was operating heavy equipment at the Mary River mine.

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This video talks about the risks of cryptocurrencies, like scams, fraud, and how unpredictable the market can be. It stresses how important it is to be careful and do your research before investing in or using digital currencies.

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What is Bitcoin?  Bitcoin Explained Simply

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This video looks at new trends in digital currencies, like how more businesses are starting to use them, improvements in blockchain technology, and the rise of Central Bank Digital Currencies (CBDCs). It also talks about some challenges, like tough regulations and the possibility of the market becoming too crowded.

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What is Bitcoin? Simple Explanation for Beginners

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This website shows how blockchain technology is being used in Canada for more than just digital currencies. It highlights examples like improving supply chains, keeping healthcare data secure, and creating more transparent voting systems.

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This image shows the Bitcoin logo, a symbol of the growing popularity of digital currencies. It represents innovation, decentralization, and the move toward a cashless economy.

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This diagram explains how blockchain technology works by showing its decentralized and secure system. It breaks down how transactions are recorded in a shared ledger that everyone can trust.

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What did you learn about your topic that surprised you the most?

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What did you learn about your topic that surprised you the most?

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I was surprised to learn how interested governments are in Central Bank Digital Currencies (CBDCs). It’s fascinating how they’re trying to use them to improve financial inclusion and stability while also tackling challenges like privacy and cybersecurity.

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Provide a real-life example of how this topic is relevant or interesting to you.

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Provide a real-life example of how this topic is relevant or interesting to you.

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Digital currencies are becoming more popular in Canada, with lots of businesses now accepting them as payment. I’ve personally come across them when shopping online and thinking about different investment opportunities.

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to share?

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to share?

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The most important thing to share is how important it is to be careful and do your research when using or investing in digital currencies. Knowing the benefits, risks, and rules around them can help you make smarter and safer decisions.