Learning Objectives

Explore the differences and advantages between traditional and decentralized financial systems in the digital era.

  • Understand the fundamental principles and differences between traditional financial systems (TradFi) and decentralized finance (DeFi), including their functioning, regulation, and security.

  • Analyze the advantages and disadvantages of using traditional financial systems and decentralized solutions in risk management, investments, and ensuring financial stability.

  • Identify and evaluate current trends in digital finance, including the development of cryptocurrencies, blockchain technology, and the impact of global banking regulations on digital currencies and crypto assets.

  • Length

    1 day

  • Form

    online live, 2 instructors

  • Difficulty

    basic/advanced

Live course with a lecturer

This is Bearning's live interactive course with a lecturer. You can attend as follows:

  • 📅❌ If no specific date is listed for the course, then we currently only offer this course as an inhouse course for institutions or groups of participants (3+ ). Contact us by email for more information. We are always happy to tailor this course to your requirements. We can deliver it online or in person.  
  • 📅✅ If the course is listed for a specific date, you can sign up for it by registering and paying the fee. We will confirm your registration for the course and send you a link to connect (usually via Zoom or MS Teams) and a PDF of the presentation prior to the course. You can also register for the course by email, or you can contact us for further information. Course content and further details can be found on the course page. 

Who should attend

Target group

  • Bankers, Finance Professionals and Analysts: Individuals looking to understand the transition from traditional finance systems to decentralized finance and its implications.

  • Blockchain and Cryptocurrency Enthusiasts: People interested in learning about blockchain technology, cryptocurrencies, and their applications in the financial sector.

  • Regulatory and Compliance Officers: Professionals tasked with understanding and navigating the regulatory landscape for digital currencies and crypto assets.

  • Fintech Innovators and Entrepreneurs: Those developing or managing fintech solutions, seeking insights into the integration of DeFi principles and technologies.

Course Description

Understanding TradFi and DeFi

This course offers a balanced comparison of traditional and decentralized financial systems, guided by two expert lecturers to ensure the best and fairest analysis. Participants will delve into the evolution of financial systems, the roles of central and commercial banks, and the principles underlying decentralized finance. The course covers the functioning of capital and financial markets with traditional currencies, alongside blockchain technology and smart contracts in DeFi. Additionally, it analyzes current trends in cryptocurrencies, including security considerations and regulatory aspects for digital currencies and crypto assets. By the end of the course, participants will have a solid understanding of the financial world's dynamics and be equipped to leverage opportunities in the digital finance era.

Content

  • Financial systems and money
    • Evolution of financial systems - how the financial system is changing
    • Central banks and commercial banks in the traditional financial system TradFi, monetary policy of central banks, TradFi products of the financial market
    • Emergence, functioning, and principles of decentralized finance DeFi, overview of applications and products, current trends
  • TradFi: Fiat money and CBDC
    • Functioning of capital and financial markets with traditional currencies
    • Tools of central banks for managing price stability and financial markets 
    • Current setting of banking regulation, capital adequacy of banks, ICAAP process, and capital allocation to various types of risks
    • Digital products and services with traditional fiat currencies 
    • Central bank digital currencies (CBDCs) 
    • CBDC in the fintech environment
    • Various CBDC models
    • BIS Innovation Hub and CBDC projects 
    • Bank of England - CBDC research
    • Digital Euro - ECB project
  • DeFi: Cryptocurrencies and other DLT applications
    • Asymmetric cryptography and early cryptocurrencies, emergence of Bitcoin 
    • Blockchain technology and DLT, principles of operation
    • Cryptocurrencies today, current developments, market capitalization of the crypto-segment
    • Platforms for smart contracts, Ethereum network 
    • Decentralized financial system
    • Stablecoins and differences between them, TerraUSD case study 
    • Security aspects and privacy, possibilities of attacks on blockchain networks, security principles when working with cryptocurrencies, cryptocurrencies and crime
    • Metaverse and virtual worlds
  • Global banking regulation and expansion for digital currencies and crypto assets
    • International financial authorities, emergence of banking regulation and its application to fintech and crypto assets
    • Case study: FTX failure
    • EU regulation MiCA - Markets in Crypto Assets

Instructors

CEO, Bearning Martin Macko

Martin started his career in banking in 1994 as an MM&FX Treasury trader. Later he was appointed Treasury Director and Chairman of ALCO at a subsidiary of an international banking group. In 2007, Martin founded a consulting company. Later, Bearning expanded its activities to include professional banking education in the areas of ALM & Treasury, financial markets, risk management, fintech and digitalization. Martin holds several degrees and qualifications: Ing. (equivalent to M.Sc.) from the Slovak Technical University, ACI Dipl. (ACI Dipl.) from the Financial Markets Association, Financial Modeling & Valuation Analyst (FMVA)® and Certified Banking & Credit Analyst (CBCA)™ and Capital Markets & Securities Analyst (CMSA)® from the Corporate Finance Institute.

Senior Instructor David Stancel

David began his career focusing on cryptocurrencies and blockchain technology. He currently advises several institutions on blockchain and DeFi. Previously, he was CIO at Fumbi and Strategy Advisor at Vacuum Labs, developing FinTech and crypto solutions. As the founder of Blockchain Slovakia, he promotes education in blockchain and cryptocurrencies. David consults for the Slovak Central Bank on digital currencies and DeFi. David holds a Bachelor's in Economic Policy & International Affairs from Masaryk University and an M.Sc. in Digital Currencies from the University of Nicosia. He is a Certified Bitcoin Professional with ACCA (F2&F3) qualifications and teaches at the Slovak University of Technology and the University of Economics in Bratislava​

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