DCX academy: DCX101 – what are digital currencies?

Notes on Apr 5, 2022

11:24 minutes

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  • What is Cryptocurrency?

  • Where did Cryptocurrency first start?

  • What types of Cryptocurrency exist?

  • Why should you learn about Cryptocurrency?


Economic Disruption

  •  Virtual currencies are digital alternatives to the established fiat system

  • Most are unregulated by governments and exist beyond traditional monetary policies

  • Us Based CFTC classified cryptocurrencies as commodities in 2015

  • G20 wishes to create standard guidelines within 2018

  • Based on Cryptography

  • Confidentiality, Integrity, Non-repudiation, Authentication

  • Modern Cryptographic Technology requires mathematics and computer science

  • Virtually impossible to break, duplicate, or counterfeit

  • Value fluctuates based on demand for the expansion of specific cryptocurrency networks Most (but not all) cryptocurrencies are defined by a finite supply


Cryptocurrency Origins

  • Egyptians practiced kryptos with hieroglyphics

  • Julius Caesar used simple ciphers where each character was shifted and replaced

  • “Hi, I’m Zachary” - “KI, Ip Cdfkdub” or “TradeHouse” - “SqzcdGntrd”

  • Ecash,  Digicash, Bit Gold… “trusted third party systems” that failed

  • Bitcoin intended to be a decentralized ‘peer to peer electronic cash network’... not currency

  • Namecoin, Peercoin, Litecoin, IOTA, Ethereum, Tether…

  • The underlying technology and vision helps to define an assets significance

  • *1,594 Cryptocurrencies as of March 29, 2018


Future of the Industry


  • January 9, 2018 - Venezuela’s ‘Petro’

  • 10 Days later Donald Trump prohibits US Citizens from purchasing this token

  • Stay away from Petro


  • January 19, 2018 Canadian Government

“Blockchains provide the ultimate in transparency and trust, making this technology a brave new world for organizations that strive to conduct transparent business.” -NRC


  • Vladimir Putin, “countries that are late to adopting new technology will quickly fall under the dependence of the leaders of this development” and Russia claims they will not fall behind

  • March 26, 2018 Chinese ‘BROP’ rolls out ‘Blockchain as a Service’ platform

  • Support for projects such as food tracking and coupon circulation

  • Strives to enhance identity registration and authorization in medical systems


In Summary

Cryptocurrency is simply stored on a database that no one can change without successfully fulfilling specific conditions.

There are a myriad of benefits for mainstream adaptation of this emerging technology!