Andreas Park PRO
Professor of Finance at UofT
Blockchain Bare Bones
Presenter: Andreas Park
What is a Blockchain?
What is a Cryptocurrency?
Addresses, Accounts, Wallets, and Public/Private Keys
Smart contract accounts
- controlled by code
- decentralized applications
- tokens
Externally owned accounts
controlled by private keys
private
key
public
key
seed phrase
public
address
wallet = software to keep and use private keys
What is Decentralized Finance?
DeFi: new financial infrastructure that will be a common resource
payments
stocks, bonds, and options
swaps, CDS, MBS, CDOs
insurance contracts
decentralized finance =
provision of financial services without the necessary involvement of a traditional financial intermediary
big picture
-
replace commoditizable financial "services"
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Examples:
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accounts
-
payments
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basic credit
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basic investment advice
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basic trading
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Bare-bone Blockchain Intro
By Andreas Park
