Understanding Blockchain
How does it work? How will it affect the future of your industry?
Overview

CE credits

This program is eligible for 6 CE credit hours as granted by CFA Society VBA Netherlands
 

Many industries - such as the music, hotel and taxi businesses - have already been disrupted by a peer-to-peer business model, and the blockchain technology is now doing the same to the financial markets. Blockchains eliminate the need of a middle man intermediating and certifying transactions, therefore threatening to make banks, clearing houses, credit card companies and auditors obsolete.

The one-day Understanding Blockchain program introduces participants to digital currencies and blockchains. The underlying distributed ledger technology and its many possible applications will be thoroughly discussed. 

The program will be taught by one of the world’s leading experts in this field.

 

How you will benefit

  • Acquire an overview of the history, growth, strengths, and weaknesses of digital currencies, blockchains, and distributed ledger technology
     
  • Learn about potential applications of distributed ledger technology to new products and services
     
  • Understand the regulatory challenges posed by new payment systems, and the responses of governments in the U.S., Europe, and around the world
     
  • Utilize existing financial benchmarks to evaluate the success of Bitcoin and other digital currencies as forms of money and as investments
     
  • Explore blockchain technology and its potential to provide faster, cheaper, and more secure financial transactions
 
Content

An introduction to Bitcoin, Ethereum, Ripple and other digital currencies

  • The creation and spread of Bitcoin and other digital currencies
  • The blockchain technology
  • Distributed ledgers, mining and other key innovations
  • Decentralization of governance via “consensus” mechanisms

Evaluating digital currency as a form of money and as an investment

  • Why do people use digital currency?
  • How well have digital currencies performed as a medium of exchange?
  • What problems does it solve, and what problems does it create? Security of digital wallets, exchanges, and trading platforms
  • Risk and return for digital currency investors

The threat of blockchains to existing financial markets

  • Stock markets
  • Consumer payments
  • International remittances
  • Tokens and initial coin offerings as alternative finance

Additional uses of blockchains

  • Logistics and supply chain management
  • Ownership registration of real estate, fine art and luxury goods
  • National identity schemes
  • Healthcare data management
  • Auditing
  • Music and fine art provenance
  • Financial inclusion in developing economies

Smart contracts

  • Using technology to improve enforcement and reduce costs of contracting
  • Legal and ethical limits to the use of smart contracts
  • Risks and weaknesses of this technology
  • Regulatory problems and opportunities
  • Enabling of illegal activity and cyberattacks
  • Taxation, accounting, money laundering, and other compliance issues
  • Regulatory competition, “sandboxes,” and other evolving paradigms
  • Blockchain enforcement tools for regulators

The threat of virtual currency to governments and public finance

  • What would happen if governments could not control money?
  • Potential macroeconomic benefits and risks of autonomous digit currency
 
Who should attend
  • Entrepreneurs of emerging growth companies in the digital currency and mobile payments fields
  • Online retailers who are considering the use of these technologies in their business
  • Investment managers developing products related to digital currencies and other cryptographic assets
  • IT managers seeking to understand the business applications of digital currency technologies
  • Managers in financial firms who need to understand the challenges and potential that blockchains and distributed ledgers provide
  • Legal professionals who need to understand the regulatory landscape surrounding digital currencies
  • Government professionals who need to understand macroeconomic benefits and risks
Faculty
David L. Yermack 

David L. Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business. He serves as Chairman of the Finance Department and Director of the NYU Pollack Center for Law and Business. He is a Faculty Research Associate of the National Bureau of Economic Research and has published widely in leading academic journals.

David’s most recent research interest lies in the area of blockchain. He is regarded as one of the world’s leading experts on this topic, both on the academic side as well as on blockchains technological and practical implications. David advises and gives talks globally, and is in high demand for his unique expertise on blockchain and its current and future implementation.

David received his PhD from Harvard University (1994), in addition to his MA in Business Economics (1993), his Juris Doctor (1991), his MBA (1991), and his BA in Economics (1985).

 

Accreditation
Dates & fees
30 May 2018 € 1,100

Program fee includes all study materials, books and software that are required for the program as well as daily luncheons.
Program fee is exempt from VAT for clients located in the Netherlands. For other EU and Non-EU clients, VAT may be due by client and will not be charged by AIF. Fees may be subject to change.
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