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Předmět, akademický rok 2023/2024
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FinTech and Blockchain - JEM233
Anglický název: FinTech and Blockchain
Český název: FinTech and Blockchain
Zajišťuje: Institut ekonomických studií (23-IES)
Fakulta: Fakulta sociálních věd
Platnost: od 2021
Semestr: letní
E-Kredity: 3
Způsob provedení zkoušky: letní s.:
Rozsah, examinace: letní s.:6/0, Z [DS]
Počet míst: 185 / neurčen (neurčen)
Minimální obsazenost: neomezen
4EU+: ne
Virtuální mobilita / počet míst pro virtuální mobilitu: ne
Stav předmětu: vyučován
Jazyk výuky: angličtina
Způsob výuky: prezenční
Způsob výuky: prezenční
Poznámka: předmět je možno zapsat mimo plán
povolen pro zápis po webu
při zápisu přednost, je-li ve stud. plánu
Garant: doc. PhDr. Martin Gregor, Ph.D.
Gonul Colak, Ph.D.
Vyučující: Gonul Colak, Ph.D.
doc. PhDr. Martin Gregor, Ph.D.
Binyi Zhang
Třída: Courses for incoming students
Neslučitelnost : JEM205
Anotace - angličtina
Poslední úprava: Binyi Zhang (17.05.2023)
This course covers recent developments in the area of ​​financial innovation (FINTECH), such as Blockchain, digital currencies, peer-to-peer methods of identifying ownership, and smart contracts. Its goal is to analyze the emergence of Blockchain and related innovations as highly disruptive technologies for the financial industry, business laws, accounting and monetary economics (central banking). To fully understand the implications of such technologies, we will cover various related topics such as the nature of money, legacy payment and banking, basics of crypto technology, digital currency systems, peer-to-peer transactions, governance and regulation of emerging technologies , double entry bookkeeping, and financial exchanges. We will also focus on several digital currencies, their "intrinsic value," the reasons for their recent popularity, and the microstructure of their trading. Finally, we will survey various ventures that have begun to capitalize on these innovations.
Cíl předmětu - angličtina
Poslední úprava: Binyi Zhang (17.05.2023)

To enhance students' understanding of the most recent and most promising financial innovations that will change the nature of the professional jobs that would be available in the future for students majoring in finance, accounting, and other business areas. The course also intends to create a bridge between business, law, and computer science. Students majoring in these areas would be equipped with a basic knowledge in each other's fields, which should enhance the quality of their communications after entry into their corresponding careers.

After completing the course, the students will be able to:

  • understand the nature of Blockchain technology
  • discuss the FINTECH applications currently being explored for a wide variety of uses and functions
  • examine why peer-to-peer method of identifying ownership and network-based bookkeeping creates a form of trust
  • analyze the reasons behind the popularity of stateless digital currencies and discuss their implications for the future of the monetary policy set by a country's central bank
  • apprehend the regulatory and governance challenges facing corporations, central banks, trading exchanges, and various government institutions dealing with this disruptive technology
  • illustrate how various corporations and banks try to co-opt the Blockchain technology into their existing business models
  • understand how the Initial Currency Offerings (ICOs) work and discuss why recently they became a popular form of external financing for some firms
Deskriptory - angličtina
Poslední úprava: Binyi Zhang (17.05.2023)
This compact course will be taught in May 23-25, 2023, 14-17, in Room 109. 
Podmínky zakončení předmětu - angličtina
Poslední úprava: Binyi Zhang (23.05.2023)

A final online exam (pass/fail) with multiple-choice questions at the Moodle 2 platform.

In order to successfully complete the course, students are obliged to take a final online exam on the Moodle 2 platform (https://dl2.cuni.cz/course/view.php?id=4101). 

It is essential for students to be enrolled in the "FinTech and Blockchain" course on the Moodle platform as a prerequisite for taking the exam. The exam consists of multiple-choice questions and employs a pass/fail grading system.

Additionally, students must join the MS Teams platform and ensure that their camera is activated throughout the duration of the exam.


Exam Date 1: May 29th, 2023, from 9:15 am to 10:15 am (MS Team).

Exam Date 2: May 30th, 2023, from 1:15 pm to 2:15 pm (MS Team).

Exam Date 3: May 31st, 2023, from 5:15 pm to 6:15 pm (MS Team).

  • The test will consist of 20-25 questions for 50-60 minutes. According to the past experience, there is more than enough time.
  • Questions are displayed in blocks consisting of 2-4 Qs. After completing the block, it is not possible to return back (important!)
  • The questions are generated randomly from a wider set of tasks and the individual answers (a to e) are randomly mixed.
  • Some answers are formulated with the options "all answers a, b, c are correct", "none of the answers a, b, c is correct" ... since the answers are randomly shuffled, that "a, b, c" does not necessarily answer reality, take it as "all answers are correct" or "no answer is correct" (important!)
  • It is not possible to return to the test after submitting it.
  • It is necessary to click on "end of test" in the moodle, then "Submit all and finish", then again "Submit all and finish".
  • The test is closed-book! Any communication between you is prohibited.
  • You can use calculators. 
  • At the end, you will see the number of points for the test.
  • The mark that is displayed in Moodle is irrelevant, only the number of points is important.
  • The grade will be Pass or Fail.
Sylabus - angličtina
Poslední úprava: Binyi Zhang (17.05.2023)


There are no specific prerequisites for this course. However, it is expected that participating students have some basic knowledge of computer technologies, financial institutions, accounting, and business law. As such, the course is more suitable for master students and some exceptional senior level undergraduates.

Class procedure:

The course consists of 6 classroom lectures. The students' participation in lectures and exercise sessions is not mandatory but highly desirable. Each lecture can involve some pre-class reading and occasional in-class discussions.

Course Materials:

  1. Book: Narayanan, A., Bonneau, J., Felten, E., Miller, A., Goldfeder, S.: Bitcoin and Cryptocurrency Technologies 2016. It is available in hardcover for purchase and a draft of the manuscript can be downloaded at : https://lopp.net/pdf/princeton_bitcoin_book.pdf
  2. Additional Material : A list of academic articles will be provided by the professor during the lecture. The articles will also be available for download through the Moodle page of the course.

Grading and Assessment:

Your grade for the course will be determined by an exam at the end of the course. The exam will be comprehensive and will cover all the lectures, in-class discussions, academic papers, and other material provided by the professor during the course. The topic and other details about the exam will be provided during class. The date of the exam will be announced later on.

Lecture slides and recommended reading material:   

Please use your faculty email account ( xxx@fsv.cuni.cz ) to access the recommended reading materials for this course via Google Drive. 



1. Introduction to FINTECH 

  • The Economist, 2015, “The Great Chain of Being Sure About Things.”
  • Das, 2019, “Future of FinTech”

2. The Blockchain Technology 

  • Narayanan et al. (2016)'s Book, Chapter 5
  • Goldman Sachs' Profile in Innovation: Blockchain
  • Harvey (2014), “Cryptofinance” (optional)
  • Nakamoto (2008) (optional)

3. Bitcoin and other Cryptocurrencies

  • Narayanan et al, Chapters 8, 10
  • Gandal et al., 2018, “Price manipulation in the bitcoin ecosystem”
  • JP Morgan Report – “Decrypting Cryptocurrencies: Technology, Applications and Challenges”  
  • Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin's. New York Times, March 27, 2016.

4. Capital Markets and Initial Coin Offerings (ICO); Tokenization

  • Howell, Niessner, and Yermack, 2020, “Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales”
  • Hu, Parlour, and Rajan, 2020, “Cryptocurrencies: Stylized Facts on a New Investible Instrument”
  • Catalini and Gans, 2018, “Initial coin offerings and the value of crypto tokens”
  • Outlier Venture – “All you need to know about Initial Coin Offerings”
  • Busgang & Nanda 2018, “The Hidden Costs of Initial Coin Offerings”

5. Monetary Policy & Cryptocurrencies

  • Raskin and Yermack, 2016, “Digital Currencies, Decentralized Ledgers, and the Future of Central Banking”
  • BIS Report, Feb6, 2018, “Money in the digital age: what role for central banks?” a speech by Agustín Carstens.
  • BIS Report, Nov15, 2018, “Money in a digital age: 10 thoughts” a different speech by Agustín Carstens.
  • Higginson, Nadeau, and Rajgopal (2019) – “Blockchain's Occam problem”
  • Fung and Halaburda, 2017, “Central Bank Digital Currencies: A Framework for Assessing Why and How,” Staff Discussion Paper, Bank of Canada. (optional)
Vstupní požadavky - angličtina
Poslední úprava: doc. PhDr. Martin Gregor, Ph.D. (20.02.2023)
The course is suitable for bachelor and master students. Students should have basic knowledge of computer technologies, financial institutions, accounting, and business law.
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