Are you relatively new to cryptocurrency? Still trying to get oriented?

Here is a “MAP” for Cryptocurrency! This landing page is a resource to help you navigate the cryptocurrency landscape. The MAP is a unique framework developed by Dr. Lamont Black to explain the different aspects of cryptocurrency. In this three-part overview, you will learn about cryptocurrency as money (M), as an asset (A), and as a platform (P).

If you are an individual trying to understand cryptocurrency, this three-part overview will guide you through the origins of crypto as money, the current focus on crypto as an investment, and the future of crypto as a platform for innovation. This MAP will help orient you as you start buying crypto and exploring the world of NFTs, the metaverse, and so much more.

If you are a financial institution trying to understand cryptocurrency, this three-part overview will guide you through crypto as a method of payment, crypto as a digital asset, and the future of blockchain applications in financial services. This MAP will help orient you as you consider incorporating cryptocurrency and blockchain into your digital transformation strategy. If you would like to reach out about an in-person or virtual presentation by Dr. Black, please contact me.

Limited time to learn about crypto? You can check out Dr. Black’s YouTube playlist “Crypto Introduction” for a few videos explaining the basic concepts. This is a great place to go if you only have time for a quick three-video introduction!

(If you find the content useful, please like the videos and subscribe to the channel!)

If you have some additional time to spend here, you can explore the MAP as a three-part sequence of short readings and embedded videos for understanding cryptocurrency. The videos include the ones in the playlist and some extras.

The links with summaries below cover each part of the MAP or you can get started and follow the link on each page as you progress through the three-part sequence.

Read below for an overview of the three parts all in one place…

Part 1: Cryptocurrency as Money (M)

• Summary: Many people question whether cryptocurrency qualifies as a form of money. In this part of the MAP, Dr. Black explains cryptocurrency in the context of our current forms of money and how money is changing with technology. The history of money and the evolution of money shed light on the concept of “money” and may challenge some of your ideas about why money has value. You will learn about Bitcoin as a paradigm shift in the evolution of money. You will also receive insights on stablecoins and central bank digital currencies as more recent forms of the “digital dollar.” Finally, this introduction will encourage you to think about how methods of payment have changed in recent years and how crypto could play a role in the future of money.

Part 2: Cryptocurrency as Asset (A)

• Summary: Most people now think of crypto as an asset for investing. In this part, Dr. Black explains how people are buying crypto as a digital asset and how they are adding crypto to their investment portfolios. Many financial institutions already are monitoring the outflow of their depositors’ funds to crypto exchanges like Coinbase. How should financial institutions be responding to this trend? Non-fungible tokens (NFTs) are another example of a digital asset that provides a digital record of ownership, which can be extremely important in the “tokenization” of both digital and physical assets. As you consider your own crypto learning journey, you will learn about the role of digital wallets for sending and receiving digital assets. Finally, Dr. Black will encourage financial institutions to engage with their members in a discussion about what role crypto assets can play in their financial well-being.

Part 3: Cryptocurrency as Platform (P)

• Summary: Cryptocurrency uses a technology called blockchain. Although the mechanics of blockchain can be difficult to understand, it is important to appreciate that blockchain is a platform on which applications can be built. In this part of the MAP, Dr. Black provides a “101” explanation of blockchain and explains how cryptocurrencies use this technology. You will learn about Ethereum as a public blockchain that uses smart contracts to offer decentralized applications (dapps). One of the applications is decentralized finance (DeFi), which replicates many financial services including lending and borrowing, so it is closely related to the core operations of credit unions and banks. You will even learn how the metaverse is being built as a blockchain application. Blockchain is a powerful technology that has the potential to transform financial services.