Groundbreaking ideas and research for engaged leaders
Rotman Insights Hub | University of Toronto - Rotman School of Management Groundbreaking ideas and research for engaged leaders
Rotman Insights Hub | University of Toronto - Rotman School of Management

Cryptocurrency for the cautious business leader

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Andreas Park

The tumble of cryptocurrency beginning in May 2022 left some investors and business leaders with more questions than answers about the future of crypto. 

What caused this so-called “crypto winter"? What might the future of blockchain look like in the world of global trade, HR and accounts management or loyalty tracking? Will ignoring this space leave businesses scrambling to catch up years from now? 

In the second episode of the Rotman Executive Summary podcast, professor Andreas Park explores these questions with a research lens. Currently serving as the research director at Rotman's financial innovation lab, FinHub, and the co-founder of the University of Toronto’s blockchain research lab, LedgerHub, Park studies blockchains, digital currencies, payment innovations, decentralized finance and more. 

“I think there's a disconnect between what people are building on the blockchain and what the use cases are,” says Park. “There's a lot of beautiful ideas of how to streamline existing blockchain operations...but thinking about what business case you can solve and what value you bring to customers is a much harder problem.” 

In the episode, Park breaks down the common terminology in the cryptocurrency space — from blockchain and fiat currency to Bitcoin and stablecoin — before delving into crypto’s turbulent history. 

“The fact that tokens imploded, and people withdrew money from this sector is not necessarily a bad thing. It doesn't necessarily affect the people who are already seriously working on projects,” he says. “In that sense, I think one should separate the craziness of prices from the from the real work that is being done.” 

Park says that despite the ill tidings, businesses should continue to monitor cryptocurrency, or risk missing out on a game-changing technology. 

Next month on the Rotman Executive Summary, professor Pankaj Aggarwal speaks about the pros and cons of humanizing brands, and how celebrity-led brands, social media and AI are changing the rules for interacting with customers. 

If you missed the previous episode with professor Alan Saks, tune in to explore the dos and don’ts of improving employee engagement. 

New episodes of the Rotman Executive Summary are released monthly on Spotify, Apple Podcasts, Google Podcasts and Soundcloud. Desktop listeners can also tune in on Simplecast.

Would you rather read than listen in? Check out the full transcript here

Andreas Park is a professor of finance at the University of Toronto, appointed to the Rotman School of Management and the department of management at UTM.