You’re at the top of your game, a leader of a top firm, you’re an expert. But there’s that one area where you need to catch up: cryptocurrency.
To accompany our article for firm leaders—Crypto: Everything the Law Firm Managing Partner Needs to Know—we’ve assembled some key articles to help you quickly come up to speed on the most consequential financial technology in years.
The three things you need to understand in order to form a baseline working knowledge of crypto are blockchain technology, the difference between cryptocurrency and other assets like nonfungible tokens, and the metaverse.
For a start, the essential question: What is a blockchain? In short, it’s a distributed, immutable ledger, usually decentralized, for recording transactions and keeping track of digital assets. Cryptocurrencies, decentralized finance and all the rest are built on the technology. This graphic explains how that works:
But the crypto universe is made up of a lot more than currencies. NFTS, or nonfungible tokens, are works of art or music or even an authenticity claim for sneakers that exist only in the digital world and are paid for with cryptocurrency. Other critical concepts include decentralized finance, the metaverse, nonfungible tokens, smart contracts, and more.
To get closer to the heart of the matter, explore these articles:
There’s a lot to digest, but half the battle is coming up to speed on crypto-speak. Check out Defining Our Terms, a handy podcast from Bloomberg News.
And once you’re ready to get a little deeper in the weeds:
And on Capitol Hill:
To follow daily news on crypto, NFTs, and the metaverse, subscribe to Bloomberg Law’s daily Crypto newsletter below.