The University of Michigan Blockchain and Cryptocurrency Explained
The sudden rise in the value of Bitcoin and other cryptocurrencies, and its subsequent decline, focused the world’s attention on cryptocurrencies as a means of payment. Blockchain technology powers Bitcoin and has been hyped as the next new, transformative technology.
In this course, we first discuss the technical underpinnings of blockchain and review key concepts such as decentralization and consensus algorithms. We then examine blockchain as an asset and review the dynamics of the cryptocurrency markets. Finally, we examine blockchain as a business solution, with a focus on understanding business cases in which blockchain does and does not make sense.
WHAT YOU WILL LEARN
- Explain how blockchain works.
- Articulate the key technical aspects, such as decentralization and consensus algorithms.
- Describe the strengths and weaknesses of cryptocurrency as an asset and a payment mechanism.
- Evaluate tradeoffs of blockchain as a business solution.