Disembedded Cryptoccurrencies by aurora https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl How cryptocurrencies relate to socioeconomic phenomena en-us 2021-05-18 18:07:29 UTC 2024-05-26 21:36:40 UTC hello@padlet.com First, let's have a small introduction! https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537735280 2021-05-18 22:55:57 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537735280 What are Cryptocurrencies❓ https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537745470 ◽ Instead of relying on banks to keep track of records, cryptocurrencies utilize the technology called Blockchain for the recording of payments

◽ This use of the blockchain technology allows it to be "disembedded" from the traditional banking system

◽ In his peer-to-peer payments network, all transactions between participants are verified for their legitimacy

◽  This is done in the course of the so-called mining process by solving extremely complex cryptographical problems
]]> 2021-05-18 23:02:39 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537745470 Key conclusions ✅ https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537749874 ◽ There is a high likelihood that new regulations will be placed on Cryptocurrencies

◽ Cryptocurrencies are unlikely to replace fiat currencies if their energy inefficiency is not addressed

◽ We will likely see some form of digital currencies issued by central banks in the upcoming years]]> 2021-05-18 23:05:39 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537749874 Main arguments 💬 https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537751737 ◽ Governments are not in favour of accepting cryptocurrencies since these undermine the states sovereignty

◽ Due to the huge energy inefficiency of most cryptocurrencies there is doubt if they would be viable replacement of fiat currencies

◽ (Questionable disembedded)

◽ From a demographical perspective mostly young people with certain political ideologies are interested in promoting cryptocurrencies

◽ Referring to Fichte, German philosopher, a value should provide stability and security. From a financial perspective cryptocurrencies are very fluctuating when it comes to price (1 Bitcoin = 40,160.00$ at the time of creating this Padlet) as can be seen from the graph below ⬇]]> 2021-05-18 23:06:58 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537751737 Encountered difficulties ⚡ https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537752705 ◽ Cryptocurrencies are quite a contemporary and heated topic with a lot of articles and new information being published almost every day. It was a bit challenging filtering out all the materials we have prepared for the essay. 

◽ We had to economize words in our essay in the end. We had a lot of things we wanted to mention but had to take out a few sentences and compress some of the sentences so we would fit into the word limit. 

◽ As is mentioned in the point above, we could not really mention topics that are in some way related to cryptocurrencies or blockchain e.g. NFTs (Non Fungible Tokens) because they would occupy quite a substantial amount of space to be fully elaborated on. ]]> 2021-05-18 23:07:36 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537752705 Interested in Central bank digital currencies? https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537765713 We would recommend the following video ⬇]]> 2021-05-18 23:16:11 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1537765713 https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538343272 2021-05-19 05:16:49 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538343272 Be sure to have look at our essay 📃 https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538472552 2021-05-19 06:27:59 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538472552 Critical reflection on the Peer Review 🔍 https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538601591 Reflecting on the provided feedback by our colleagues we have taken into account the following criticism: 

◽ The shorter length of the introduction, which we mainly treated as brief introduction, could have been more explicit right from the start. This is something that we address more carefully in the future 

◽ We do notice that some sentences may exhibit additional or non-relevant information and we will be aiming to be more succinct

◽ Some discrepancies might have appeared partially due to the fact that multiple people have worked on this essay and therefore different types of terminology were used, but we will keep this regard in our minds for next time ]]> 2021-05-19 07:28:25 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538601591 Cryptocurrencies in the Future? auroranoacco https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538718525 So far, crypto-values are not used as a day to day value. To help spreading the use of those Nuri (Bitwala) enters in the scene.  
Giving their clients the possibility to have a credit card that coverts directly their ordinal value into Bitcoin.]]> 2021-05-19 08:16:11 UTC https://padlet.com/auroranoacco/y3gfbgw9aiv7fagl/wish/1538718525