Cryptocurrency: Beyond Bitcoin Teach-Out

In the next segment, Andrew Wu, Assistant Professor of Technology and Operations and Finance, Stein Research Scholar, and Michael R. and Mary Kay Hallman Fellow at the University of Michigan, explains blockchain as a type of database. Andrew makes a comparison to DropBox, which is a type of file sharing service. You may also have heard of Google Drive, Apple iCloud, or Mega. Whereas a traditional database is centralized, blockchain is decentralized and uses peer to peer networking to collectively store and share information. In his second segment, Andrew distinguishes between types of blockchain technologies: digital assets representing currency like bitcoin and dogecoin, decentralized software platforms like Ethereum, utility tokens, security tokens, and stablecoins.