Since its launch in 2009 by Satoshi Nakamoto, Bitcoin has emerged as the most successful cryptocurrency ever. It has become a global phenomenon, sparking the imagination of technology leaders, entrepreneurs and financial investors alike. Bitcoin’s market cap currently surpasses $190 Billion in a market of $570 Billion. Other cryptocurrencies have seen massive increases in value, too, albeit with a much smaller market capitalization. But what is bitcoin exactly, and how do cryptocurrencies work? Will the blockchain technology that underlies cryptocurrencies fundamentally transform the interactions across industries?

On February 1, the Development Strategy and Policy Analysis Unit hosted a Development Policy Seminar on the Frontier Issue of “Understanding Bitcoin, Blockchains and the Crypto Economy”. The seminar featured Ferdinando Ametrano (@Ferdinando1970), Adjunct Professor of “Interest Rate Derivatives” and “Bitcoin and Blockchain Technology” at the Università Milano Bicocca and David Yermack, Chair of the Finance Department of New York University Leonard N. Stern School of Business.

Prior to the seminar, a Facebook Live event with the panellists was held to answer questions from the online community.

Flyer: Seminar: Understanding Bitcoin, Blockchains and the Crypto economy
Related: World Economic Situation And Prospects: November 2017 Briefing, No. 108
Related: Regulating the no man’s coin – the rapid rise of cryptocurrencies has regulators scratching their heads