Cryptocurrency: Beyond Bitcoin Teach-Out

At a glance, a cryptocurrency or “crypto” is a form of digital currency. Unlike other types of money, cryptocurrencies typically use "decentralized control," which means they aren't issued or controlled by a government or other entity. Instead, a cryptocurrency utilizes a distributed ledger, a consensus of computerized data geographically spread across the world, to control the creation of new coins and verify the transfer of coins between people. Strong cryptography is used to keep transactions secure by preventing counterfeiting and fraud. This Teach-Out will go into more detail about the mechanisms of cryptocurrency, systems of blockchain, and the process of mining so that you will have a basic understanding of the technology behind this unique digital asset. Expert contributors will then speak to you on the societal and ecological impact of cryptocurrencies, offer some insights into how cryptocurrency technology may impact you in the future, and recommend steps towards developing the very necessary digital financial literacy. This Teach-Out is a place for conversation about cryptocurrency technology, as opposed to a guide for beginning to invest or mine. Please note that there are risks associated with any financial endeavour and the University of Michigan, including the faculty involved with this Teach-Out, disclaim all liability for anyone making investment decisions from this learning experience. Some online resources may advertise opportunities to invest or pay for financial services; you are under no obligation to participate in any offers. Any reference to a specific company, commercial product, process or service within this Teach-Out does not constitute an endorsement or recommendation by the University of Michigan.