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Conference: Bitcoin as a parallel banking system

Fecha: 21 of february

Time: 8:00 am - 9:00 am

Place: D-604 (Auditorio)

The talk will be offered by international expert Thierry Bonneau, Professor of Banking Law, Financial Markets Law, and European and International Banking and Financial Regulation at the University Paris II Panthéon Assas.

On Friday, November 10, 2017, the Bitcoin market opened with a big surprise: in less than 48 hours, the cryptocurrency had fallen more than USD 1,000. This occurred the same year earnings were above 600 percent. The Bitcoin has opened a question mark in the global business world.

The cryptocurrency, governed only by the law of supply and demand, is an enigma for many entrepreneurs and different governments. In 2017, the Chinese Government declared it as illegal currency; following this line, the CEO of JPMorgan Chase, Jamie Dimon, stated the currency was a “fraud.”

The cryptocurrency was created in 2009 by Satoshi Nakamoto (the pseudonym used by its creator or creators); since its launching, it has been widely accepted, allowing its exponential increase in recent years. In 2012, a Bitcoin (1) cost 1.37 USD; in December 2017, it reached its highest point with a cost per unit of 13.258 USD, reflecting a 967,000 percent increase.

What is behind this cryptocurrency? What makes it reach never-seen-before volatility indexes? Some believe that in a few years the Bitcoin will surpass the $30,000 mark, while others believe that in the long run, it will be worth zero. What will be the Bitcoin’s fate?

The Masters in International Law with an emphasis in International Business Law program, wishing to continue leading the training of entrepreneurs and legal executives in the country, invited Doctor Bonneau to impart the conference.

Currently, our international guest is co-director of the Banking and Financial Law Journal, Chairman of the Scientific Board of the International Journal of Financial Services (RISF), and member of the Scientific Council of the Banking and Law Journal.