Are Bitcoin and other cryptocurrencies the future of money?

Invented in 2009, Bitcoin has since popularized cryptocurrency in a massive way. Largely unregulated by the federal government, cryptocurrency offers its users a way to exchange funds without going through banks or other financial institutions, which charge fees. Because of this, among a variety of other reasons, many people believe it may one day replace our current financial system. This module asks the question, are Bitcoin and other cryptocurrencies the future of money?

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Coinbase, A Bitcoin Startup, Goes Public. Is Crypto Really The 'Future Of Finance'?

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Additional resources to think about

Stablecoins and the Future of Money
The Harvard Business Review article discusses how cryptocurrency might transform the way our financial system works.

Record-breaking sale of digital creation makes history in art and cryptocurrency markets
This PBS NewsHour segment looks at the sale of a single non-fungible token (NFT) that made history in both the art and cryptocurrency markets.

A Conversation with a Dogecoin Millionaire
This podcast episode of The Daily interviews a man who made millions of dollars by investing in Dogecoin, a cryptocurrency, and discusses the cryptocurrency boom which took place in early 2021.

Crypto: will the bitcoin dream succeed? | The Economist
This video questions whether bitcoin will ever live up to the expectation that it will be the future of money.

contemplate

Who created this message?

What kind of “text” is it?
How similar or different is it to others of the same genre?
What are the various elements (building blocks) that make up the whole?

What creative techniques are used to attract my attention?

What do you notice (about the way the message is constructed)?
What’s the emotional appeal?
What makes it seem “real?”
What's the emotional appeal? Persuasive devices used?

How might different people understand this message differently from me?

How many other interpretations could there be?
How could we hear about them?
How can you explain the different responses?

What lifestyles, values, and points of view are represented in, or omitted from, this message?

What type of person is the reader/watcher/listener invited to identify with?
What ideas or perspectives are left out?
How would you find what’s missing?
What judgments or statements are made about how we treat other people?

Why is this message being sent?

What's being sold in this message? What's being told?
Who is served by or benefits from the message
– the public?
– private interests?
– individuals?
– institutions?

5 Key Questions of Media Literacy used with permission from the Center for Media Literacy.
Copyright 2002-2021, Center for Media Literacy, www.medialit.com

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