York-Affiliated Scholar Mitacs Scholar Speaks on Cryptocurrency Usage In Canada
On Wednesday, April 2nd, Mitacs scholar Dr. Daniela Balutel (York University, Economics) and Schulich Associate Professor Henry M. Kim (Operations Management and Information Systems) spoke on a topic that has attracted a great deal of attention in recent years – cryptocurrency use and ownership.
Dr. Kim and Dr. Baultel spoke before a crowded house made up of students, financial industry professionals, investors, and financial regulators about a variety of cryptocurrency related topics, ranging from crypto ownership in Canada, the scale of cryptocurrency investments in Canada and the overall public perception of cryptocurrencies.
Cryptocurrencies are a topic that often inspire an equal amount of praise and derision in the media. Depending on your perspective, they are either a game-changer for financial systems and investments, or a dodgy investment favored by scam artists and criminals. Separating fact from fiction is often difficult for cryptocurrency proponents, given the sheer amount of noise and hype surrounding them. Fortunately, academics have begun to research cryptocurrency trading and ownership – and the Schulich School of Business and York University stand at forefront of the study of cryptocurrency usage within Canada.
After a brief networking reception (which included the presentation of several posters by Schulich PhD students), Dr. Kim opened the discussion by providing a short introduction to Bitcoin and cryptocurrency. As director of York University’s Blockchain.lab, Dr. Kim is well versed in researching and promoting the responsible use of blockchain technologies, such as cryptocurrencies, to enterprises and consumers.
When asked about the event Dr. Kim stated “Blockchain—and its use in crypto, stablecoins, and real-world assets—is a powerful technology we’re only beginning to understand. Events like Dr. Balutel’s presentation help ensure Schulich, York University, and the blockchain.Lab stay at the forefront, asking important questions and bringing research into the public conversation.”
The evening’s main draw was the keynote address given by Dr. Daniela Balutel. Dr. Balutel presented key insights from her own research and Canada’s Bitcoin Omnibus Surveys on the dynamics of crypto-asset ownership and usage in Canada.
Dr. Balutel also explored the links between digital and financial literacy, cash usage, gender differences and the role of beliefs in shaping decisions within the Bitcoin market and participated in a lively Question and Answer session with audience members about the findings of her research.
Also in attendance was Schulich Associate Dean of Research, Professor Eileen Fischer (Marketing), who remarked “Talks such as these are important for translating novel scholarly insights into practice.”
When asked why she thought research cryptocurrency was important, Dr. Balutel was quoted as saying
“Understanding how and why individuals adopt cryptocurrencies is becoming increasingly important as the crypto asset market continues to grow. Survey data enables us to move beyond market analysis and gain insights into the demographics, motivations and financial decision-making involved in crypto adoption.”
If you would like to learn more about York’s Blockchain.Lab, please feel free to reach out to Dr. Henry M. Kim at hkim@schulich.yorku.ca
If you have a question about this event and research findings, please feel free to reach out to Dr. Balutel at dbalutel@yorku.ca
The April 2 event also featured research posters developed by Schulich PhD students and Schulich faculty. These research posters highlighted original research focusing on topics related to cryptocurrency and the blockchain.
A selection of these posters can be viewed at the links below:
- Chien-Chih Chen & Wojciech Golab on A Game Theoretic Analysis of Validator Strategies in Ethereum 2.0
- Henry M. Kim on Can Stablecoins Actually Improve Financial Inclusion: Exploring the IT Affordances of Token-Based Digital Currencies
- Shahla Nikbakht & Henry M. Kim on Streamlined Fund Administration, Onboarding and Reporting for RWA Tokenization