Description

This session will go under the hood and and analyze just what exactly stablecoins are, how they function, and why they are attracting so much attention. Starting with Facebook's Libra, but expanding the conversation to the stablecoin space at large, attendees will learn just how stablecoins function, and how they are different from both traditional cryptocurrencies and fiat currencies. Building off these definitions and explanation, the session will then walk through and analyze the value and use cases for stablecoins, and what options exist developing and using stablecoins as part of business processes. Additional analysis will touch on the reporting and control implications of using stablecoins, including potential cybersecurity considerations unique to this asset class.

Learning Objectives:

• Attendees will leave this session with the ability to differentiate stablecoins from both fiat currencies and traditionally decentralized cryptocurrencies
• Session participants will have the ability to articulate and explain the various positions for how stablecoins should be accounted for and reported
• Attendees will be able to examine, analyze, and discuss potential cybersecurity considerations linked to stablecoin and stablecoin interoperability

Speaker(s):

• Sean Stein Smith, CPA, CGMA, Professor, City University of New York (Lehman College)

Category: Concurrent Session (Onsite and Online)