In his speech to the Rotary Membership of Aiken on Monday, Dr. Paul Newsom provided his viewers some encouraging phrases about investing in digital forex.
He stated the principle level he wished to make was “to reassure everyone that if you happen to’re going to get into this cryptocurrency, particularly bitcoin, it’s loads safer at the moment when the bitcoin community first began.”
Newsom, who’s an affiliate professor of finance at USC Aiken, additionally mentioned blockchain know-how.
“A vital factor of blockchain know-how is the safety,” he stated.
Based on merriam-webster.com, blockchain is “a digital database containing info (corresponding to data of monetary transactions) that may be concurrently used and shared inside a big decentralized, publicly accessible community.”
Newsom additionally talked about how digital know-how is affecting the true property enterprise, permitting transactions to happen with out using attorneys.
“This has already occurred (on this nation earlier this yr),” he stated. “They created a non-fungible token in the USA. They positioned that non-fungible token in an LLC, and now within the state of Florida, you should purchase and promote actual property utilizing the Ethereum community.
“Apparently sufficient, the primary considered one of these transactions occurred … in Ukraine,” Newsom added. “So Ukraine was the primary one to ever do that.”
Newsweek reported in 2017 that an house in that nation had been offered “for $60,000 by way of good contracts on the Ethereum blockchain.”
Newsom is also cofounder and managing director of VentureSouth Aiken.
The Rotary Membership of Aiken’s assembly was held at Newberry Corridor.
