Cryptocurrencies and blockchain technologies are making significant progress in the financial industry, with the most recent being the move by the CFA Institute, which provides the Chartered Financial Analyst designation, a three-level program, to add cryptocurrencies and blockchain to its Level I and II curriculums next year.
The topics are included in a new section known as Fintech in Investment Management. The CFA, based in Charlottesville, Va., took up these topics in an effort to increased interest based on focus groups and research.
Thanks to the rise of bitcoin, finance has increasingly become joined with cryptocurrencies. Presently bitcoin futures are traded by the trading house in Chicago and at major financial companies including Goldman Sachs Inc. Furthermore, a growing number of Wall Street professionals are taking part in cryptocurrency startups.
Cryptocurrencies have become popular this year and real-world blockchain applications have been slashed, yet according to several observers, the technologies can make significant changes to the global financial system. Stephen Horan, the managing director of curriculum and general education at CFA Institute stated that blockchain and cryptocurrencies are here to stay.
According to Kayden Lee, a 27-year-old financial economics student, who took the CFA Level I exam in June noted that the blockchain and cryptocurrency material will be very useful to people just like him who wish to accept cryptocurrency.
He went on to add that the focus of the material is how fintech and blockchain develop, interrupt and unravel certain financial sectors.
The topics will also go under CFA readings regarding professional conducts, which is an area that some view as essential for the cryptocurrency industry. Several crypto projects work in a gloomy legal environment. Moreover, many ICOs and cryptocurrency trading platforms have fallen victim to money laundering, theft, market manipulation, and scam.