Wondering why everyone is so damn hot & bothered over crypto lately? Should you jump on the trend or have you missed the crypto millionaire boat? Are NFTs designed for more than art? Join us as we fall down our favourite philosophical black hole of wondering “what even is money?”

Skim the Show Notes below to explore:

* How do I invest in Crypto?* What is a Blockchain, Smart Contract, and NFT?* Cryptocurrency vs Fiat Currency* Wait, some cryptocurrencies are more than just imaginary money? And they’re reshaping entire industries?* Who controls our money system?

What is a Blockchain?

A ledger of transactions that is decentralized – aka stored on many different computers in the network instead of in one location like a bank.

Example of how a blockchain ledger works:

* Let’s say each “block” contains a certain number of transactions, for this example we’ll use 10.* Once 10 transactions have happened, those transactions get bundled into a single “block.”* This new block is sent out to everyone in the network who is maintaining a copy of the ledger.* Everyone adds this new block to the end of the ledger, like a link in the chain. Each time a new block is added, the length of the chain grows.* Block + Block + Block = Chain … a chain of blocks, or a “Blockchain”

Blockchain ledgers can be used to store transaction records for things like banking, voting, legal contracts and even tracking supply chains so you know the ethically sourced product you purchased is actually what arrives on your doorstep.

Here’s a fascinating breakdown of industries being disrupted by blockchain technology: https://www.cbinsights.com/research/industries-disrupted-blockchain/

Why is this important?

It prevents corruption!

If all transaction history is managed by a single central authority, like a bank/government/business, they could potentially alter it for their own benefit or to penalize someone else. Centralized ledger systems are a powerful tool but they are often abused, particularly in developing regions, to maintain power and wealth and restrict the freedoms of certain groups.

Since Blockchains distribute a copy of the ledger across many locations, one person or entity can’t modify the transaction history since it would be obvious that their copy of the ledger is the only copy that doesn’t match the rest of the network.

What is Cryptocurrency?

A digital currency that is tracked on a blockchain.

What is Fiat Currency?

A currency issued by a government, like the US Dollar, Mexican Peso, Euro, Japanese Yen, Nigerian Naira, Peruvian Sol, etc.

A few Cryptocurrencies you might have heard about lately:

* Bitcoin | BTC* The grand daddy of modern cryptocurrency; primary use case is that it is a store of value (like gold) and digital currency. * Based on Market Cap, Bitcoin is the largest cryptocurrency.* Ethereum | ETH* Similar to Bitcoin, it can be used as a store of value and digital currency but the Ethereum network was also designed as a tool for running decentralized software applications and smart contracts, making Ethereum the most actively used blockchain at this time.* Theta | THETA* Think streaming video distribution at...