Parsons the New School for Design Cryptocurrencies and Security Paper
Bitcoin, Ethereum, Litecoin, Ripple and other “cryptocurrencies” have been in business news headlines everywhere. The extreme trading volume, price volatility and overnight wealth creation/losses being the main reasons. Much attention and controversy has been given to Facebook’s own digital currency, Libra and if/how it should be regulated.With the help of Blockchain Technology, cryptocurrency transactions are executed and documented with faster speed than by traditional trading platforms. However,some countries such as China, wish to impose regulation on cryptocurrency’s existence and control trading. Venezuela, on the other hand, has attempted to create it’s own version of a cryptocurrency, having it backed by the oil they produce, in effort to emphasize its legitimacy and perhaps help stabilize their economy. ,
Your assignment is to classify and clarify (2) arguments certain countries may draw upon to justify and successfully overcome related obstacles and restrictions that may hinder or prohibit cryptocurrencies from trading OR conversely, classify and clarify (2) arguments that countries may use against cryptocurrencies, in defense of and upholding current restrictions allowing them to trade openly, where currently permitted. Answers should be less than 200 words.