More than 3 million people are estimated to be using ‘cryptocurrencies’ such as bitcoin as an alternative payment system for goods and services, according to a recent report by the Centre for Alternative Finance (CCAF). Co-author of the report, Dr Garrick Hileman will be Cambridge Network’s guest speaker on ‘fintech’ on 14th June and will give us an overview of how cryptocurrencies are changing the finance world.
The first decentralised cryptocurrency, ‘bitcoin’, was launched in 2009 and since then cryptocurrencies are increasingly being used, transacted and mined across the globe. The study found that more than 1,800 people are now working full time in the cryptocurrency industry, as more companies are engaged across various cryptocurrency sectors.
Currently, the combined market value of all cryptocurrencies is nearly $40 billion, which represents a level of value creation on the order of Silicon Valley success stories like Airbnb,” Dr Hileman says in a foreword to the study. “The advent of cryptocurrency has also sparked many new business platforms with sizable valuations of their own, along with new forms of peer-to-peer economic activity.”
About Dr Garrick Hileman
Dr Garrick Hileman is a Research Fellow at the Cambridge Centre for Alternative Finance and a Researcher at the Centre for Macroeconomics. He was recently ranked as one of the 100 most influential economists in the UK and Ireland and he is regularly asked to share his research and perspective with the FT, BBC, CNBC, WSJ, Sky News, and other media. Garrick's technology experience includes co-founding a San Francisco-based tech incubator, IT strategy consulting for multinationals, and founding MacroDigest, which employs a proprietary algorithm to cluster trending economic analysis and perspective.
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