The History of Money: Winter 2015 RESEARCH REPORT: (This is to be completed on an individual basis) Grade Value: 30% Research Report must be submitted electronically, in Word format, under the “Assignment” tab in Blackboard APA bibliography/citation format required (20% of mark deducted for missing in-text citations and bibliography) Research Report: 1000 – 1200 Words; 4-5 pages typed, double spaced (In Times New Roman 12pt.)
I can attach powerpoints that the proff used during thr course if you would like
Choose 1 of the following subjects for your research report
A.Bitcoin, a virtual currency, represents a major innovation in the evolution of money. While not actually legal tender it is growing rapidly in popularity and usage. The main benefits of Bitcoin relate to its protection of user anonymity, minimal transaction fees, and its independence from both government control and the banking system. It has also been very controversial due to its use as a preferred method of payment in the underground and black market economy. Your paper should evaluate the future potential of Bitcoin becoming a mainstream currency. The report should address both the opportunities and challenges facing Bitcoin and the implications regarding its potential impact on society- including the economy, government, the banking system, as well as the regulatory environment ( eg. legal issues).
B. The phenomenon of money laundering has been around since the creation of money itself. In instances where there is a need to hide a financial transaction, a form of money laundering has occurred. For practical purposes we define money laundering as a three stage process: 1. Moving the money from the direct association of the crime 2. Disguising the money trail to avoid the authorities 3. Making the money available again to the instigator – with little if any trace to the crime. In your research paper chose a category of money laundering and analyse and report on the process used and how it has been either successful or not from avoiding the legal sanction and prosecution from the authorities. Your paper should include the money laundering strategy – including a description of the three stages above, how the process has been successful or unsuccessful, the methods authorities have used to try and prevent or capture the money launderers, and international implications – including policing, how it operates with the “legitimate” banking system, and the impacts on society. The research paper will be graded based on: – the breadth of research done and insights uncovered – the level of understanding of the subject material – how well material is related to concepts covered in the course, – the logic and organization of the report.
The History of Money
Bitcoin has been on the business debates since its inception. The news of the digital currency seems unstable with some reports seeing it as the future of digital platform while other dismissing its potential in the society. The increased entry into the Bitcoin market is what is likely to define the future of the currency. While the bitcoin infrastructure at present remains unsatisfied factory for many people, it has been seen as being capable of changing. Some of the analysts have seen the potential of bitcoin the some way the potential of the internet was seen in the early years of the 1990’s. The potential of bitcoin however lies in the fact that it is a payment technology that can revolutionize the legacy industry of payment. The challenges and the opportunities that bitcoin has in its initial stages of operation are the determinants of what the future holds. If bitcoin can manage to maneuver the challenges and make use of the opportunities, it can end up in the mainstream forcing governments and central banks to endorse it as a legal currency.