Professor gives Starkville Rotary Club lesson in cryptocurrency
STARKVILLE, Miss. (WCBI) – A Mississippi State University professor gave members of the Starkville Rotary Club a lesson in cryptocurrency.
Dr. Brian Blank, who teaches finance, explained how the digital currency works.
For example, crypto exists on computers assembled with codes with no tangible footprint.
Blank specifically detailed the inner workings of Bitcoin, which is a specific type of cryptocurrency.
WCBI asked the professor if he believed the United States would ever fully adopt a cryptocurrency model.
“The Federal Reserve and the U.S. government are certainly researching this very carefully and thinking about the possibilities in the future. I think that it is likely that the currencies that we use in the future will be increasingly digital but I also think that’s already true of the U.S. dollar and the way that we already use it. So, the need for the central bank to actually produce a digital currency is not yet obvious and I think that’s one of the reasons that they’re studying it. There are benefits but there are some challenges as well that we still have to work through,” said Blank.
Cryptocurrency is decentralized meaning there is no government or entity that oversees it.
