Tech
Cryptocurrencies arrive in the classroom
The year was 2021 and the United States was in the midst of cryptomania. Ads promoting the cryptocurrency Bitcoin featuring celebrities such as Megan Thee Stallone AND Tom Brady received a lot of attention from young fans.
Some ads touted cryptocurrency as a new type of currency gained a lot of buzz. While those ads were right about the hype, they were wrong about cryptocurrencies being new. Even when those adverts were made, Bitcoin – the first successful decentralized cryptocurrency – had been around for over a decade. Now, 2024 will mark 15 years since the launch of Bitcoin.
15 years is a drop in the bucket in historical terms, but literally a lifetime for teenagers.
Yanely Espinal, host of Marketplace”Financially inclined“, he’s been talking to teens about cryptocurrencies and says they have so many questions. He spoke with Marketplace’s Lily Jamali about how teachers are trying to figure out how to handle students curious about cryptocurrency.
The following is an edited transcript of their conversation.
Yanely Espinal: Teachers are coming out saying we need cryptocurrency assets, our students want to know more, they have a lot of questions about it. And in the state of Georgia, for the first time ever, there are some learning standards that teachers need to align instruction with, which actually includes cryptocurrency and historical examples of purchasing speculative investments. And so now that teachers realize they have to explain how it works to students, they’re looking for resources to help them understand it first.
Lily Jamali: You’re listening to the teachers, but you’re also talking to the students. You just finished a national tour in which you spoke to kids from 37 high schools across the country. What are some of the questions you hear from students about cryptocurrencies?
Spinal: I get a lot of questions about cryptocurrencies and investing in general from students. I think one of the most important things students want to know is: where can I invest my money to grow it? They recognize that inflation is high, they see the headlines in newspapers and social media, and they even see celebrities coming out on social media complaining about inflation. I think they are very aware.
Jamali: And you just tell them I’m not crypto? That cryptocurrencies are not the right place to grow your money?
Spinal: Well, I think we need to avoid two things. The first is that we must avoid evangelizing any particular financial topic or strategy. But we must also avoid the opposite, that is, trying to actively dissuade students from pursuing any type of financial behavior or activity. So, I think as educators, our job is to educate them, empower them, inform them and then say to them, so what do you think now that you’ve learned everything that we’ve talked about in this course? Now that you’ve studied, explored and analyzed it, what do you think? Do you think it’s a safe investment for you? Or a good place to put your and your family’s money?
Jamali: Over the past two years, many people have lost a lot of money investing in cryptocurrencies and we know that there has been predatory behavior against people from marginalized backgrounds for these types of investments.
Spinal: Right. And I think that’s the problem. At the moment, what we know about cryptocurrencies is what we often hear from the media and what happens online, and not really from an educational source. It is very difficult to find someone who has not invested in cryptocurrencies or who is actively against the idea of cryptocurrencies and is just neutral. Like an educator who says, “I have no part in the game, I just want you to understand what it is and how it works so you can decide if you’re ready to invest in cryptocurrencies or if it’s best to stay away.” Since you don’t have to invest in cryptocurrencies, you don’t have to participate, but what you do need to do is make informed choices with your money. So, you have to understand cryptography, you have to know how it works and why it was developed. Why are some people for it and why are some people against it and which side do you stand on.
Jamali: Do you think younger people, like high school students, have a different approach to cryptocurrencies than someone who is older and has made more investments over their lifetime within the traditional U.S. financial system?
Spinal: Oh yeah. 100%. I met students who told me they already had cryptocurrencies and had invested 50 or 100 dollars. I met a student who said he had invested almost $1,000. The thing is, they’ve seen so many celebrities talk about it and they’ve seen the hype around it. That hype machine creates FOMO. The fear of missing out has a very strong psychological influence and they wanted to be a part of it, especially when they see people they admire doing it.
Jamali: That’s what worries me, though. There is so much hype and there are so many questions about whether celebrities like Larry David or Tom Brady should have sent that message about cryptocurrencies. These are people that these kids look up to and were rewarded for doing so.
Spinal: Exactly. This is why it is important for us to encourage students to analyze what is happening and what the source of the information is. They say: “I saw Megan Thee Stallone teaching me what Bitcoin is in a Cash App commercial.” And I’m like, okay, take a break and let’s go back, right? It’s a Cash App commercial. We need to try to teach them to think this way. Because I have to say that this generation, among the students I worked with in high school, is part of a generation that does not see the lack of privacy online and the constant bombardment of advertising and marketing tactics used against us online, they do not see it as a invasion of privacy. They don’t see it as something manipulative or negative. They just see it as normal. Because from the time they remember using an iPad for the first time or playing on mom’s phone for the first time, this is always. It’s been the normal Internet they’ve experienced and known. So it’s up to us as adults to tell them, “You’re being manipulated by what you see online and taking it as fact instead of recognizing that it’s an advertising campaign.” We need to teach them how to recognize and decipher between information presented in a factual manner and from an unbiased source and information that is clearly promotional material.
Jamali: It seems like some financial literacy is taught here, but also some media literacy. What has your experience been like teaching teachers about cryptocurrencies and providing them with the tools to teach them?
Spinal: It’s very funny because I teach a nine-hour certification course and the tenth hour is an exam that teachers have to pass to prove that they have actually mastered the content. And the first session of the course consists precisely in understanding the history of money. Teachers get so shocked because they say “aren’t we going to talk about Bitcoin and blockchain?” I say, no, no, no, no, before we even get into any of this, we need to all agree on a common definition of money. Because most people think that money is dollars, coins or credit cards. They think about the types of payments they have experienced, rather than thinking about the concept of money, which is really anything that can generally be accepted as a form of payment for goods or services or to repay debt or to pay taxes.
Once we start talking about these things, let’s go through a historical lens and I share with them Aristotle’s six principles of what is considered sound money. Whatever you use as money must be scarce. It must be durable, recognizable, divisible. It must be portable and fungible. So when teachers start learning these things, they say, “Wait what? Aristotle was talking about what makes something a good form of money around 350 BC? So when we start to think about money through this historical lens, we can understand why cryptocurrency might be criticized for not being a good form of money or why it might be perceived as a potentially good alternative to traditional forms of money. Because we look at it through the lens of the Aristotelian principles of sound money,
Jamali: I can tell you; I never learned these things in school and I’m so happy that that education is reaching people now. And on that note, 25 states now require students to take a personal finance course before they can graduate. Is cryptocurrency part of that curriculum?
Spinal: It really varies from state to state because in each state the legislation doesn’t necessarily tell you specifically what you have to teach. Most states will choose to create their own personal financial literacy teaching standards and then teachers will need to align their lessons and goals with those standards. I think we’re in an exploratory phase right now. For example, we expose students to these concepts that they themselves are curious about. It’s interesting when you have a class about money and then students come into that class thinking we’re going to talk about what they perceive as money, like they think cryptocurrency is money, and then you don’t even talk about it in class, then they feel like your instructions they are irrelevant. They say, “You won’t even tell us about cryptocurrencies, how’s this money lesson going?” So, I think it’s very important for educators to stay up to date with the instruction that they teach their students so that students can actually see that this is relevant to their real life.
Tech
Harvard Alumni, Tech Moguls, and Best-Selling Authors Drive Nearly $600 Million in Pre-Order Sales
BlockDAG Network’s history is one of innovation, perseverance, and a vision to push the boundaries of blockchain technology. With Harvard alumni, tech moguls, and best-selling authors at the helm, BlockDAG is rewriting the rules of the cryptocurrency game.
CEO Antony Turner, inspired by the successes and shortcomings of Bitcoin and Ethereum, says, “BlockDAG leverages existing technology to push the boundaries of speed, security, and decentralization.” This powerhouse team has led a staggering 1,600% price increase in 20 pre-sale rounds, raising over $63.9 million. The secret? Unparalleled expertise and a bold vision for the future of blockchain.
Let’s dive into BlockDAG’s success story and find out what the future holds for this cryptocurrency.
The Origin: Why BlockDAG Was Created
In a recent interview, BlockDAG CEO Antony Turner perfectly summed up why the market needs BlockDAG’s ongoing revolution. He said:
“The creation of BlockDAG was inspired by Bitcoin and Ethereum, their successes and their shortcomings.
If you look at almost any new technology, it is very rare that the first movers remain at the forefront forever. Later incumbents have a huge advantage in entering a market where the need has been established and the technology is no longer cutting edge.
BlockDAG has done just that: our innovation is incorporating existing technology to provide a better solution, allowing us to push the boundaries of speed, security, and decentralization.”
The Present: How Far Has BlockDAG Come?
BlockDAG’s presale is setting new benchmarks in the cryptocurrency investment landscape. With a stunning 1600% price increase over 20 presale lots, it has already raised over $63.9 million in capital, having sold over 12.43 billion BDAG coins.
This impressive performance underscores the overwhelming confidence of investors in BlockDAG’s vision and leadership. The presale attracted over 20,000 individual investors, with the BlockDAG community growing exponentially by the hour.
These monumental milestones have been achieved thanks to the unparalleled skills, experience and expertise of BlockDAG’s management team:
Antony Turner – Chief Executive Officer
Antony Turner, CEO of BlockDAG, has over 20 years of experience in the Fintech, EdTech, Travel and Crypto industries. He has held senior roles at SPIRIT Blockchain Capital and co-founded Axona-Analytics and SwissOne. Antony excels in financial modeling, business management and scaling growth companies, with expertise in trading, software, IoT, blockchain and cryptocurrency.
Director of Communications
Youssef Khaoulaj, CSO of BlockDAG, is a Smart Contract Auditor, Metaverse Expert, and Red Team Hacker. He ensures system security and disaster preparedness, and advises senior management on security issues.
advisory Committee
Steven Clarke-Martin, a technologist and consultant, excels in enterprise technology, startups, and blockchain, with a focus on DAOs and smart contracts. Maurice Herlihy, a Harvard and MIT graduate, is an award-winning computer scientist at Brown University, with experience in distributed computing and consulting roles, most notably at Algorand.
The Future: Becoming the Cryptocurrency with the Highest Market Cap in the World
Given its impressive track record and a team of geniuses working tirelessly behind the scenes, BlockDAG is quickly approaching the $600 million pre-sale milestone. This crypto powerhouse will soon enter the top 30 cryptocurrencies by market cap.
Currently trading at $0.017 per coin, BlockDAG is expected to hit $1 million in the coming months, with the potential to hit $30 per coin by 2030. Early investors have already enjoyed a 1600% ROI by batch 21, fueling a huge amount of excitement around BlockDAG’s presale. The platform is seeing significant whale buying, and demand is so high that batch 21 is almost sold out. The upcoming batch is expected to drive prices even higher.
Invest in BlockDAG Pre-Sale Now:
Pre-sale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetwork
Discord: Italian: https://discord.gg/Q7BxghMVyu
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- Space and Time uses zero-knowledge proofs to ensure secure and tamper-proof data processing for smart contracts and enterprises.
- The integration facilitates faster development and deployment of Distributed Secure Services (DSS) on the Karak platform.
Karak, a platform known for its strong security capabilities, is enhancing its Distributed Secure Services (DSS) by integrating Space and Time as a zero-knowledge (ZK) coprocessor. This move is intended to strengthen trustless operations across its network, especially in slashing and rewards mechanisms.
Space and Time is a verifiable processing layer that uses zero-knowledge proofs to ensure that computations on decentralized data warehouses are secure and untampered with. This system enables smart contracts, large language models (LLMs), and enterprises to process data without integrity concerns.
The integration with Karak will enable the platform to use Proof of SQL, a new ZK-proof approach developed by Space and Time, to confirm that SQL query results are accurate and have not been tampered with.
One of the key features of this integration is the enhancement of DSS on Karak. DSS are decentralized services that use re-staked assets to secure the various operations they provide, from simple utilities to complex marketplaces. The addition of Space and Time technology enables faster development and deployment of these services, especially by simplifying slashing logic, which is critical to maintaining security and trust in decentralized networks.
Additionally, Space and Time is developing its own DSS for blockchain data indexing. This service will allow community members to easily participate in the network by running indexing nodes. This is especially beneficial for applications that require high security and decentralization, such as decentralized data indexing.
The integration architecture follows a detailed and secure flow. When a Karak slashing contract needs to verify a SQL query, it calls the Space and Time relayer contract with the required SQL statement. This contract then emits an event with the query details, which is detected by operators in the Space and Time network.
These operators, responsible for indexing and monitoring DSS activities, validate the event and route the work to a verification operator who runs the query and generates the necessary ZK proof.
The result, along with a cryptographic commitment on the queried data, is sent to the relayer contract, which verifies and returns the data to the Karak cutter contract. This end-to-end process ensures that the data used in decision-making, such as determining penalties within the DSS, is accurate and reliable.
Karak’s mission is to provide universal security, but it also extends the capabilities of Space and Time to support multiple DSSs with their data indexing needs. As these technologies evolve, they are set to redefine the secure, decentralized computing landscape, making it more accessible and efficient for developers and enterprises alike. This integration represents a significant step towards a more secure and verifiable digital infrastructure in the blockchain space.
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Iconic Italian luxury carmaker Ferrari has announced the expansion of its cryptocurrency payment system to its European dealer network.
The move, which follows a successful launch in North America less than a year ago, raises a crucial question for CFOs across industries: Is it time to consider accepting cryptocurrency as a form of payment for your business?
Ferrari’s move isn’t an isolated one. It’s part of a broader trend of companies embracing digital assets. As of 2024, we’re seeing a growing number of companies, from tech giants to traditional retailers, accepting cryptocurrencies.
This change is determined by several factors:
- Growing mainstream adoption of cryptocurrencies
- Growing demand from tech-savvy and affluent consumers
- Potential for faster and cheaper international transactions
- Desire to project an innovative brand image
Ferrari’s approach is particularly noteworthy. They have partnered with BitPay, a leading cryptocurrency payment processor, to allow customers to purchase vehicles using Bitcoin, Ethereum, and USDC. This satisfies their tech-savvy and affluent customer base, many of whom have large digital asset holdings.
Navigating Opportunities and Challenges
Ferrari’s adoption of cryptocurrency payments illustrates several key opportunities for companies considering this move. First, it opens the door to new customer segments. By accepting cryptocurrency, Ferrari is targeting a younger, tech-savvy demographic—people who have embraced digital assets and see them as a legitimate form of value exchange. This strategy allows the company to connect with a new generation of affluent customers who may prefer to conduct high-value transactions in cryptocurrency.
Second, cryptocurrency adoption increases global reach. International payments, which can be complex and time-consuming with traditional methods, become significantly easier with cryptocurrency transactions. This can be especially beneficial for businesses that operate in multiple countries or deal with international customers, as it potentially reduces friction in cross-border transactions.
Third, accepting cryptocurrency positions a company as innovative and forward-thinking. In today’s fast-paced business environment, being seen as an early adopter of emerging technologies can significantly boost a brand’s image. Ferrari’s move sends a clear message that they are at the forefront of financial innovation, which can appeal to customers who value cutting-edge approaches.
Finally, there is the potential for cost savings. Traditional payment methods, especially for international transactions, often incur substantial fees. Cryptocurrency transactions, on the other hand, can offer lower transaction costs. For high-value purchases, such as luxury cars, these savings could be significant for both the business and the customer.
While the opportunities are enticing, accepting cryptocurrency payments also presents significant challenges that businesses must address. The most notable of these is volatility. Cryptocurrency values can fluctuate dramatically, sometimes within hours, posing potential risk to businesses that accept them as payment. Ferrari addressed this challenge by implementing a system that instantly converts cryptocurrency received into traditional fiat currencies, effectively mitigating the risk of value fluctuations.
Regulatory uncertainty is another major concern. The legal landscape surrounding cryptocurrencies is still evolving in many jurisdictions around the world. This lack of clear and consistent regulations can create compliance challenges for companies, especially those operating internationally. Companies must remain vigilant and adaptable as new laws and regulations emerge, which can be a resource-intensive process.
Implementation costs are also a significant obstacle. Integrating cryptocurrency payment systems often requires substantial investment in new technology infrastructure and extensive staff training. This can be especially challenging for small businesses or those with limited IT resources. The costs are not just financial; a significant investment of time is also required to ensure smooth implementation and operation.
Finally, security concerns loom large in the world of cryptocurrency transactions. While blockchain technology offers some security benefits, cryptocurrency transactions still require robust cybersecurity measures to protect against fraud, hacks, and other malicious activity. Businesses must invest in robust security protocols and stay up-to-date on the latest threats and protections, adding another layer of complexity and potential costs to accepting cryptocurrency payments.
Strategic Considerations for CFOs
If you’re thinking of following in Ferrari’s footsteps, here are the key factors to consider:
- Risk Assessment: Carefully evaluate potential risks to your business, including financial, regulatory, and reputational risks.
- Market Analysis: Evaluate whether your customer base is significantly interested in using cryptocurrencies for payments.
- Technology Infrastructure: Determine the costs and complexities of implementing a cryptographic payment system that integrates with existing financial processes.
- Regulatory Compliance: Ensure that cryptocurrency acceptance is in line with local regulations in all markets you operate in. Ferrari’s gradual rollout demonstrates the importance of this consideration.
- Financial Impact: Analyze how accepting cryptocurrency could impact your cash flow, accounting practices, and financial reporting.
- Partnership Evaluation: Consider partnering with established crypto payment processors to reduce risk and simplify implementation.
- Employee Training: Plan comprehensive training to ensure your team is equipped to handle cryptocurrency transactions and answer customer questions.
While Ferrari’s adoption of cryptocurrency payments is exciting, it’s important to consider this trend carefully.
A CFO’s decision to adopt cryptocurrency as a means of payment should be based on a thorough analysis of your company’s specific needs, risk tolerance, and strategic goals. Cryptocurrency payments may not be right for every business, but for some, they could provide a competitive advantage in an increasingly digital marketplace.
Remember that the landscape is rapidly evolving. Stay informed about regulatory changes, technological advancements, and changing consumer preferences. Whether you decide to accelerate your crypto engines now or wait in the pit, keeping this payment option on your radar is critical to navigating the future of business transactions.
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The world’s largest cryptocurrency, Bitcoin (BTC), suffered a significant price decline on Wednesday, falling below $65,000. The decline coincides with a broader market sell-off that has hit technology stocks hard.
Cryptocurrency Liquidations Hit Hard
CoinGlass data reveals a surge in long liquidations in the cryptocurrency market over the past 24 hours. These liquidations, totaling $220.7 million, represent forced selling of positions that had bet on price increases. Bitcoin itself accounted for $14.8 million in long liquidations.
Ethereum leads the decline
Ethereal (ETH), the second-largest cryptocurrency, has seen a steeper decline than Bitcoin, falling nearly 8% to trade around $3,177. This decline mirrors Bitcoin’s price action, suggesting a broader market correction.
Cryptocurrency market crash mirrors tech sector crash
The cryptocurrency market decline appears to be linked to the significant losses seen in the U.S. stock market on Wednesday. Stock market listing The index, heavily weighted toward technology stocks, posted its sharpest decline since October 2022, falling 3.65%.
Analysts cite multiple factors
Several factors may have contributed to the cryptocurrency market crash:
- Tech earnings are underwhelming: Earnings reports from tech giants like Alphabet are disappointing (Google(the parent company of), on Tuesday, triggered a sell-off in technology stocks with higher-than-expected capital expenditures that could have repercussions on the cryptocurrency market.
- Changing Political Landscape: The potential impact of the upcoming US elections and changes in Washington’s policy stance towards cryptocurrencies could influence investor sentiment.
- Ethereal ETF Hopes on the line: While bullish sentiment around a potential U.S. Ethereum ETF initially boosted the market, delays or rejections could dampen enthusiasm.
Analysts’ opinions differ
Despite the short-term losses, some analysts remain optimistic about Bitcoin’s long-term prospects. Singapore-based cryptocurrency trading firm QCP Capital believes Bitcoin could follow a similar trajectory to its post-ETF launch all-time high, with Ethereum potentially converging with its previous highs on sustained institutional interest.
Rich Dad Poor Dad Author’s Prediction
Robert Kiyosaki, author of the best-selling Rich Dad Poor Dad, predicts a potential surge in the price of Bitcoin if Donald Trump is re-elected as US president. He predicts a surge to $105,000 per coin by August 2025, fueled by a weaker dollar that is set to boost US exports.
BTC/USD Technical Outlook
Bitcoin price is currently trading below key support levels, including the $65,500 level and the 100 hourly moving average. A break below the $64,000 level could lead to further declines towards the $63,200 support zone. However, a recovery above the $65,500 level could trigger another increase in the coming sessions.
“Phase 2 is coming! Prepared for the longest market of Crypto Bull ever” – Raoul Pal and Joe McCann
“A Pullback is coming! But the neighbor is absolutely amazing ” – Jack Mallers
“Deepseek is only the beginning of the enormous opportunities in 2025” – Catie Wood and Tom Lee
“Their plans for 2025 shock the world” – Whitney Webb’s terrible warning for 2025
“The evaluation of $ 18 trillion of Bitcoin is just around the corner” – Larry Lepard
Leeds hospitals trust says finances are “critical” amid £110m deficit
Modiv Industrial to release Q2 2024 financial results on August 6
Volta Finance Limited – Director/PDMR Shareholding
Inventiva reports 2024 First Quarter Financial Information¹ and provides a corporate update
🏴☠️ Pump.Fun operated by Insider Exploit
“Phase 2 is coming! Prepared for the longest market of Crypto Bull ever” – Raoul Pal and Joe McCann
“A Pullback is coming! But the neighbor is absolutely amazing ” – Jack Mallers
“Deepseek is only the beginning of the enormous opportunities in 2025” – Catie Wood and Tom Lee
“Their plans for 2025 shock the world” – Whitney Webb’s terrible warning for 2025
“The evaluation of $ 18 trillion of Bitcoin is just around the corner” – Larry Lepard
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