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 [dny/semestr]
• Počet míst: 185 / neurčen (neurčen)
• Minimální obsazenost: neomezen
• Virtuální mobilita / počet míst: ne
• Stav předmětu: vyučován
• Jazyk výuky: angličtina
• 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.; Mgr. Jan Šíla, M.Sc.
• Třída: Courses for incoming students
• Neslučitelnost : JEM205

Anotace

Poslední úprava: Mgr. Jan Šíla, M.Sc. (20.05.2022)

This course covers recent developments in the area of financial innovation (FINTECH), such as Blockchain, digital currencies, peer-to-peer method 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 begun to capitalize on these innovations.

Syllabus 2022:

Cíl předmětu

Poslední úprava: Ing. Dagmar Schnellerová (02.12.2021)

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

Poslední úprava: Mgr. Jan Šíla, M.Sc. (24.05.2022)

The course is a short (compact) course, will be taught May 24-26, 2022, 14-17h, room 109 in a hybrid form. The exam will be held online on May 27 at 15:30 via the Moodle system.

Registration is opened.

COURSE MATERIALS

You can join Zoom Meeting

https://cesnet.zoom.us/j/99381487367?pwd=dzB0OUMzS3NoK0dwQ3oyWjI4dDBxQT09

Meeting ID: 993 8148 7367

Passcode: 682135

Podmínky zakončení předmětu

Poslední úprava: Mgr. Jan Šíla, M.Sc. (26.05.2022)

A final online exam with multiple-choice questions at the moodle 2 platform.

In order to successfully finish the course, students have to join the course in the Moodle 2 platform. The link of the course: https://dl2.cuni.cz/course/view.php?id=4101 

EXAM DATES:

.........................

TEST INSTRUCTIONS:

It is necessary to be connected to Zoom 

https://cesnet.zoom.us/j/99381487367?pwd=dzB0OUMzS3NoK0dwQ3oyWjI4dDBxQT09

Meeting ID: 993 8148 7367

Passcode: 682135

with camera and mic turned ON.

 

1.       The test will consist of 20-25 questions for 50-60 mins. According to the past experience, there is more than enough time.

2.       Questions are displayed in blocks consisting of 2-4 Qs. After completing the block, it is not possible to return back (important!)

3.       The questions are generated randomly from a wider set of tasks and the individual answers (a to e) are randomly mixed

4.       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!)

5.       It is not possible to return to the test after submitting it

6.       It is necessary to click on "end of test" in the moodle, then "Submit all and finish", then again " Submit all and finish "

7.       Test is closed-book! any communication between you is prohibited

8.       You can use calculators

9.       At the end straight you will see the number of points for the test

10.   The mark that is displayed in Moodle is irrelevant, the number of points is important.

Grades will be determined by the standard grading policy.

Sylabus

Poslední úprava: Mgr. Jan Šíla, M.Sc. (20.05.2022)

Topic	Readings
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” ·       J.P. 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

Poslední úprava: Ing. Dagmar Schnellerová (02.12.2021)

The course is suitable for bachelor and master students. Participating students should have basic knowledge of computer technologies, financial institutions, accounting, and business law.