ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Cryptocurrencies, Blockchain and the Future of Money
Code ACFI826
Coordinator Mr GS Brown
Finance and Accounting
Gavin.Brown2@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2022-23 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

 6

       6

 36
Timetable (if known) 120 mins X 1 totaling 24
  		60 mins X 1 totaling 6
  		      60 mins X 1 totaling 6
  		 
Private Study 114
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual essay Reassessment opportunity: Yes Penalty for late submission: Standard UoL penalty applies Anonymous assessment: Yes  0    30       
Individual report Reassessment opportunity: Yes Penalty for late submission: Standard UoL penalty applies Anonymous assessment: Yes  0    70       

Aims

This module aims to:

Provide postgraduate students with an advanced understanding of the changing nature money in the twenty first century and how it is being technologically enabled using decentralised ledger technologies (blockchain).

Build students' transferrable skills by concentrating on aspects of the financialisaton of this branch of FinTech. In particular, establishing theoretical and empirical disruption from the study of contemporary case studies.

Learning Outcomes

(LO1) Students will be able to evaluate competing forms of future money and their impact upon existing financial services organisations.

(LO2) Students will be able to predict possible future scenarios for existing financial institutions and how digital assets (cryptocurrencies) will change their business models.

(LO3) Students will be able to estimate value ranges for different cryptoassets/ cryptocurrencies.

(LO4) Students will be able to distinguish between FinTech enabled new money from historical evolution of money.

(LO5) Students will be able to evaluate the competing designs of new central bank digital currencies (CBDCs) and their likely impact for monetary policy, tax strategies and the broader economy.

(S1) Ethical awareness.
Cryptocurrencies create asymmetric information between the state and the individual. Students will explore that tension and how nation states can preserve their tax state to enable the efficient functioning of societal functions under tax and spending fiscal policies.

(S2) Problem solving.
Students will develop skills in evaluating the limits of financial technology and how technology enabled novel approaches to business and money can be disrupt incumbent industries, within regulatory and legal limits.

(S3) Numeracy.
Students will develop their understanding of competing valuation methodologies of digital assets to create an optimised trading strategy.

(S4) International commercial awareness.
Students will develop an understanding of the interrelationships between financial services companies, central banks, tax authorities and governments in the context of the evolution of digital assets. A multitude of global case studies will be used to contrast competing structures and responses to digital assets.

(S5) Communication skills.
Students will be required to make clear, concise arguments in the two summative assessments.

(S6) IT skills.
The nature of the two summative assessments will require students to undertake independent, desk-based research and to develop an digital assets investment portfolio.

(S7) Organisation skills.
Students will need to be organised throughout the duration of the module in order to prepare the required readings ahead of lectures and seminars and in preparation for the two assessments.

Teaching and Learning Strategies

2 hour lecture x 12 weeks
1 hour seminar x 6 weeks
1 hour group learning x 6 weeks
114 hours self-directed learning

Outside of the classroom, students will be expected to engage in wider reading in the form of journals, books and recordings as directed by the module leader. The framework/ scaffolding for such learning will be provided on the VLE by the module leader.

HiPy and other peer-to-peer learning platforms may be adopted where relevant in the pedagogic strategy of this module delivery.

Syllabus
 

The history of money;

Digital internet money and the birth of Bitcoin;

Cryptocurrency valuation methodologies and trading strategies;

A critical evaluation of the investment case for and against digital assets;

Competing blockchain designs;

Central Bank Digital Currencies (CBDCs) and future monetary policy;

Corporate issued currencies and their unique value proposition – past, present and future;

Regulation of digital assets;

Taxation of digital assets;

Decentralised Finance (DeFi) and the future of finance (particular emphasis will be placed upon global examples such as in developing countries);

Case studies review – innovations in digital finance;

Forecasting digital assets and scenario planning.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.