Hashed Out V3: The Cryptocurrency 101 Edition

Welcome to the third issue of Hashed Out, a bimonthly newsletter from Argot (www.argotagency.io) that serves as a guide for those looking to learn the basics of the web3 space. In time, our vision is to create a forum where web3 enthusiasts and newcomers can come together to explore the new digital world. Hashed Out seeks to provide you with all the resources and insights you need to go from web3 virgin to web3 virtuoso. 

As the sherpa for your expedition into the new digital great beyond, we promise to make the complicated feel simpler, connect you to the most important data and resources from the builders, researchers, and creators that are shaping web3, and respond to your needs as we grow together.

In This Issue- Table of Contents

• Cryptocurrency 101

• Case Study: How Crypto Supports Ukraine’s Wartime Economy

• Editorial: The Promise of Crypto For Reshaping A Modern Economy

• Connections- Curated Links for the Curious

• The News Drop- Web3 News You Can Use

• The Wrap- Key takeaways for the TLDRers & A Look Ahead

Ok Hashers, are you ready to get started learning cryptocurrency? I know I am! Let’s go!

Cryptocurrency 101: A Primer to the Future of Finance

Estimated Read Time: 10 minutes

Introduction

Welcome to the world of cryptocurrencies! Strap in, because it can be a whirlwind.  You're about to embark on a fascinating journey to the potential future of finance, where money isn't just something you keep in your wallet, but something you can also mine in cyberspace. Sounds like a sci-fi novel, right? Well, it’s very real, and it's transforming how we think about and use money.

Case Study: How Crypto Has Supported Ukraine’s Wartime Economy

Estimated Read Time: 5 Minutes

Introduction

This week our case study looks at the war in Ukraine and how cryptocurrency has provided a financial lifeline for Ukrainians.

Editorial: The Promise of Cryptocurrency For Reshaping A Modern Economy

Estimated Read Time: 5 minutes

Introduction

As we delve into the digital era, one of the most groundbreaking innovations reshaping our financial landscape is undoubtedly cryptocurrency. This digital currency, supported by blockchain technology, is not just a passing trend but a foundational shift in how we perceive and interact with money. Cryptocurrencies like Bitcoin, Ethereum, and others are revolutionizing our financial systems, challenging traditional banking, and redefining our economic structures. Wall Street’s increasing investment in crypto and blockchain is proof that change is on the horizon. But beyond the buzz and speculation, the rise of cryptocurrency represents a crucial evolution in the democratization of financial services globally, promoting greater economic empowerment and inclusivity. It is this aspect of crypto, and what is becoming “web3”, that motivates me the most and fills me with hope for the future that web3 can bring.

Connections- Curated Links for the Curious

Understanding Cryptocurrency History

• European lobbyist group Regulated United Europe provides an excellent history of cryptocurrency.

• US News & World Report published this article on the history of bitcoin.

Cryptocurrency and Security

• Binance Academy has tips for how to identity and avoid the most common bitcoin scams.

More on the Role of Crypto in Ukraine

• World Economic Forum on role of crypto in Ukraine.

• Center for European Policy Analysis on how crypto has been a boost to Ukraine and Russia.

• The Financial Times explores the two sides of crypto in the war in Ukraine.

Did you miss out on the first issue of Hashed Out? See it here!

The News Drop- Web3 News You Can Use!

The Wrap

For those requiring a TLDR or just want a fast recap here it is:

Introduction to Cryptocurrency

• A cryptocurrency is a digital asset with cryptographic security features and operates on a public ledger called blockchain.

• Cryptocurrency is now poised to begin disrupting industries like finance.

• Cryptocurrency can make the transfer of money faster and cheaper with robust security features.

• The first cryptocurrency was Bitcoin, which debuted in 2009.

• Cryptocurrencies operate on blockchain technology.

Types of Cryptocurrencies

• Major crypto blockchains include: Bitcoin, Ethereum, Ripple, Litecoin, and many more.

• Crypto can have use types that include: utility, transactional, governance, platform specific, or security tokens.

• Many national central banks are developing non-decentralized digital currencies called Central Bank Digital Currencies (CBDC).

Benefits and Drawbacks of Cryptocurrency

• Benefits: Decentralization, transparency, reduced transaction fees.

• Drawbacks: Volatility, regulatory challenges, technical barriers.

Crypto and Ukraine

• With its financial infrastructure in chaos many Ukrainians turned to cryptocurrency to maintain access to their funds. The Ukrainian government also used crypto for as a bridge while formal international aid was being sent. Ukraine provides an interesting case study for how cryptocurrency can be effectively used in the future.

A Look Ahead

Ok, it’s about time to roll the credits! Where do we go from here? Smart Contracts and Decentralized Applications (dApps) 101! In our next edition we will be covering the basics of smart contracts and decentralized applications, better known as dApps. This is where there is some real future growth potential for web3 and is technology we will all likely be engaging with in the not so distant future.

Also coming soon is the release of The Weekly Hash, which is our weekly curation-based news and resources update to keep you on top of the fast moving world of web3.

One last call, if you haven’t already hit the subscribe button below to stay in the know. We have a lot of great stuff ready to be released and we would love for you to join our community and grow with us.

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I hope that you enjoyed this edition of Hashed Out. There is much more to come and your feedback is invaluable to how we will grow. If you have questions or comments drop us a line.

[email protected]

Ok Hashers, that’s The Wrap. Many thanks!

(Cue awesome exit music of your choice)

Dr. Scott