BOCA RATON, Fla.--(BUSINESS WIRE)--In "The Illusion of Bitcoin," CSL Consulting President Christopher Laursen and Director Alison Fitzgerald shed light on the true nature of Bitcoin and tackle critical challenges facing the world’s oldest and most well-known “cryptocurrency.”
“We wanted to boil down what Bitcoin actually is and how it works into understandable terms,” says Fitzgerald, who conducted extensive research and analysis for the paper, “and to explain that most Bitcoin transactions are not as decentralized as we are led to believe.”
Laursen, a former Federal Reserve and OCC Examiner, stated “It’s important for people to understand that the Blockchain system does not prevent the market value of Bitcoin from being manipulated.” Stripping away the mystique, the paper explains that Bitcoin is fundamentally no more than a computer protocol—a "chain of digital signatures”—and discusses the challenges and limitations facing Bitcoin in the future.
"The Illusion of Bitcoin" addresses conventional perceptions of Bitcoin as a currency and explores the complexities surrounding its classification and regulatory frameworks. This enlightening analysis offers valuable insights for academics, policymakers, and individuals interested in the truth about Bitcoin.
About CSL Consulting:
CSL Consulting is an expert witness and advisory services firm focused on the financial sector. Our experts draw on decades of real-world experience in areas including financial regulation, risk management, trading, credit underwriting, accounting, compliance, audit, and governance.
CSL’s Cut to the Chase Finance series provides key information and explanations on current complex financial issues, in a digestible form.
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About the Authors:
Christopher Laursen is the President of CSL Consulting, where he provides expert witness, advisory and training services. Mr. Laursen formerly served as the Manager of Risk Policy and Guidance, and the Head of Trading and Capital Markets Risk in the Supervision Division of the Federal Reserve Board. He also served as an examiner with three Federal Reserve Banks and the OCC.
Alison Fitzgerald provides litigation and advisory consulting support in matters involving securities and financial markets, risk management, and regulation.