Digital Money Demystified Fintech Trend Report

August 5, 2024

The DMD FinTech Trend Report — Powered by Advantage Evans Academy📈

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Available in paperback & e-book at Amazon.com and wherever books are sold.

A 2024 ERIC HOFFER BOOK AWARD CATEGORY FINALIST

Illegal? A fad? A scam? Unregulated? What is Cryptocurrency?

Digital Money Demystified is an expertly researched, engaging, and informative guide that separates fact from fiction in the wild world of crypto by tackling the most common myths of this emerging asset class. 

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LEAD STORY 📰

Decoding Crypto: What Sets Bitcoin, Ethereum, and Other Cryptocurrencies Apart

By Tonya M. Evans, Penn State Dickinson Law Professor, Speaker, Consultant & Author of Digital Money Demystified

August 5, 2024

Ever wondered why there are so many types of cryptocurrencies and what sets them apart?

While the media often paints a broad picture of "crypto," the reality is that crypto assets are far from a monolith. Understanding the unique purposes and functions of each type is crucial, whether your interest lies in personal investment, professional opportunities, or academic inquiry.

As we dive into the diverse world of digital currencies—from bitcoin's role as decentralized digital gold to the innovative financial products enabled by Ethereum and DeFi tokens—it becomes clear that a nuanced understanding is essential. This knowledge empowers us to navigate the rapidly evolving digital economy with confidence and foresight, ensuring that we leverage these technologies for both personal growth and broader societal impact.

Cryptocurrencies have taken the world by storm, promising a revolution in how we think about money, transactions, and financial systems. If you’re crypto curious but don’t have a tech or finance background, understanding the different types of cryptocurrencies can feel overwhelming. This guide will simplify the main categories of cryptocurrencies and explain their unique characteristics and uses.

Bitcoin: The Pioneer of Cryptocurrencies

Bitcoin (BTC) is the original cryptocurrency, created in 2009 by an anonymous entity known as Satoshi Nakamoto. It introduced the concept of digital currency operating independently of a central authority, like a bank or government. Bitcoin’s primary use is as a digital form of cash, allowing peer-to-peer transactions over a decentralized network.

Think of crypto like peer-to-peer file sharing but exchanging money instead of music files.

What makes bitcoin special is its limited supply. Only 21 million bitcoins will ever be created, which helps maintain its value over time. Bitcoin’s decentralized nature means it’s controlled by its users rather than a central entity, offering an alternative to traditional financial systems.

Fun fact? According to Arkham (a crypto intelligence platform focused on deanonymizing entities on the blockchain network), […]

📩 Read the full article via my LinkedIN Newsletter.

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NEWS DIGEST

All Subscribers🪙

• How Kamala Harris Could Usher in a Clean Slate for Crypto Regulation (by Prof. Evans)

• Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 as Panic Grips Markets

• Morgan Stanley to Offer Bitcoin ETFs to Wealthy Clients: CNBC

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FEATURED VIDEO

Crypto Scam Myths Revisited

No matter how much the cryptocurrency ecosystem evolves, there will always be uneducated people coming out of the woodwork to dismiss crypto and anyone involved in it as one big scam. Not only is this perspective based on vast misinformation, but it can actually be harmful to your ability to adapt and thrive in a Web3 world. Watch this video to help separate fact from fiction so you can protect yourself against scams.

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FINTECH LAW DIGEST

On the Legal Front ⚖️

Book me for your next event or corporate training! Learn more

• Does the SEC Really Have Jurisdiction Over NFT Art? Two Artists Sue SEC to Get an Answer

Uncover the details of Brian Frye and Jonathan Mann's lawsuit against the SEC, challenging its jurisdiction over NFTs. Learn how this case could impact regulatory clarity for NFT artists and protect their creative freedom. […📈]

• Russia approves law allowing use of crypto for global payments as it faces ongoing sanctions

Discover Russia's new law permitting cryptocurrencies for international payments to counteract Western sanctions. Understand how this move could reshape global trade and economic stability amid geopolitical tensions. […📈]

• How law enforcement struggles with sophisticated crypto laundering

Explore the latest Chainalysis report revealing advanced money laundering techniques in the crypto world. Learn how intermediary wallets, stablecoins, and mixers complicate efforts to trace illicit funds, underscoring the need for improved regulatory measures. […📈]

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