Your assignment will ask several questions. Apply the exercises to supplying a response. Generally, each statement requires three pages (single-spaced), not including a bibliography and screenshot, in an appendix. Each paper is to use APA standards.
Phase One demands that students perform an analysis of this set of questions.
· What is the demographic profile of the US citizen, as it pertains to their currency? What freedoms and/or limits do they experience, as it pertains to the use of money? How does this contrast with citizens in nations who are not in the G7, but are in the G-20 (Turkey, Indonesia, Russia, for example)? Just to remind you, these are the members of the G7 countries. Here are the G20 members.
· Perform a PESTLE analysis to describe the condition in which the major industrial countries’ citizens (G7) possess and utilize money. Contrast this with a PESTLE describing the currency utilization of citizens in G-20, who are not G7 members. Address the notion of the stability of currency, and how that impacts the cultures of the non G7. In short, what is it like living in a large, powerful country like Turkey, where the currency undergoes one crisis after another?
· What is ethereum? How is it used? How can a nation, organization create a digital currency? Utilize this tutorial to investigate the nature of creating your own currency.
· If a group can create their own currency, can they mitigate or improve the lives of its users, which might take place using a fiat/national currency?
· Would the non-G7 currency users benefit from ethereum differently than those in the G7?
· What implications does ethereum have for G7 countries? Consider the idea that G7 citizens are digital citizens, who live significant parts of their lives online, pursuing tasks digitally (registering to vote, schooling, shopping, etc). Given the smart contract, assume that this creates new mediums to motivate consumer behavior. How might the G7 cultures adopt cryptocurrency to address their social, economic, and monetary challenges?
· What support is there for crypto? Who supports its use, for example, within the central banking community/ BIS members? Given the support for crypto, how does that predict the trajectory of its use? Given who likes crypto, how would it get used?
1. Lecture 1, cryptocurrency PESTLE, and emerging economies. View here.
2. BIS and digital currencies, org/publ/work880.htm”>https://www.bis.org/publ/work880.htm
3. BIS and cross border payments, https://www.bis.org/cpmi/publ/d194.htm
4. Our discussion on crypto and the BIS, https://www.loom.com/share/b1d0ccaf46884a56a1b48d8c468be4c4
5. How to do the PESTLE analysis. https://www.loom.com/share/ea7e45d482d9425488119ca0c08f11cf
6. Example of how to format your paper, using APA style (see link to student paper)