Scribd Logo
Upload

Welcome to Scribd!

  • 1K views

    Tugas 1 Bahasa Inggris Niaga

    Uploaded by

    dikafa
    The document discusses two topics related to digital currencies and blockchains: 1) whether auctions are an effective method for selling digital art given the unique dynamics of the digital art market, and 2) how the rise of decentralized digital currencies could impact the traditional functions of central banks. For the first topic, the response argues that NFTs have led to growth in the digital art market by democratizing access and allowing ownership of digital works to be proven. For the second topic, the response outlines the concept of cryptocurrencies and digital currencies issued by central banks, and considers different views on whether cryptocurrencies could replace fiat currencies or become alternative payment methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Tugas 1 Bahasa Inggris Niaga

    Uploaded by

    dikafa
    1K views3 pages
    The document discusses two topics related to digital currencies and blockchains: 1) whether auctions are an effective method for selling digital art given the unique dynamics of the digital art market, and 2) how the rise of decentralized digital currencies could impact the traditional functions of central banks. For the first topic, the response argues that NFTs have led to growth in the digital art market by democratizing access and allowing ownership of digital works to be proven. For the second topic, the response outlines the concept of cryptocurrencies and digital currencies issued by central banks, and considers different views on whether cryptocurrencies could replace fiat currencies or become alternative payment methods.

    Original Description:

    Tgs b ing

    Original Title

    TUGAS 1 BAHASA INGGRIS NIAGA

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses two topics related to digital currencies and blockchains: 1) whether auctions are an effective method for selling digital art given the unique dynamics of the digital art market, and 2) how the rise of decentralized digital currencies could impact the traditional functions of central banks. For the first topic, the response argues that NFTs have led to growth in the digital art market by democratizing access and allowing ownership of digital works to be proven. For the second topic, the response outlines the concept of cryptocurrencies and digital currencies issued by central banks, and considers different views on whether cryptocurrencies could replace fiat currencies or become alternative payment methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1K views3 pages

    Tugas 1 Bahasa Inggris Niaga

    Uploaded by

    dikafa
    The document discusses two topics related to digital currencies and blockchains: 1) whether auctions are an effective method for selling digital art given the unique dynamics of the digital art market, and 2) how the rise of decentralized digital currencies could impact the traditional functions of central banks. For the first topic, the response argues that NFTs have led to growth in the digital art market by democratizing access and allowing ownership of digital works to be proven. For the second topic, the response outlines the concept of cryptocurrencies and digital currencies issued by central banks, and considers different views on whether cryptocurrencies could replace fiat currencies or become alternative payment methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    NAMA : PUTRI RUWESTI NINGSIH

    NIM : 048960091

    PRODI : MANAJEMEN S1

    MATKUL : B.INGGRIS NIAGA (ADBI4201)

    SOAL:

    Please choose one of the topics below. Then, write an essay consisting of 3 paragraph. Elaborate your
    own opinion with the references related to the topic that you choose.

    1. Given the rise in popularity of NFTs (Non-Fungible Tokens) and digital art, many creators are
    now using auction-based platforms to sell their work. Do you think auctions are an effective
    method for selling digital art, considering the unique dynamics of the digital art market and
    the behavior of collectors in this space? Explain your reasoning.

    2. With the increasing interest in and adoption of cryptocurrencies, some argue that the role of
    central banks could diminish in the future. How might the rise of decentralized digital
    currencies impact the traditional functions of central banks, such as controlling inflation,
    regulating the banking sector, and ensuring financial stability? Explain your reasoning.

    UNSWER:

    1). NFTs, or non-fungible tokens, have been making headlines in recent months as they have begun
    to disrupt the traditional art market. These unique digital assets allow for the creation and sale of
    one-of-a-kind digital collectibles and artwork, such as the highly publicized $69 million sale of digital
    artwork by the artist Beeple. But Beeple is just the tip of the iceberg when it comes to the impact of
    NFTs on the digital art market.

    The rise of NFTs in the digital art market can be traced back to 2017, with the launch of the
    CryptoPunks collection. These 10,000 unique pixelated characters quickly gained popularity and
    value as a digital collectible and set the stage for the explosion of NFTs in the art world. Since then,
    the market has grown exponentially, with sales of NFT artwork reaching $2 billion in the first quarter
    of 2021 alone.

    One of the key reasons for this growth is the democratization of the art market that NFTs offer.
    Previously, the art market was controlled by a select few galleries and auction houses, but NFTs allow
    artists to directly sell their work to collectors without the need for intermediaries. This has led to a
    wider range of artists and artworks being able to gain recognition and value in the market.
    Another factor driving the growth of #nfts in the digital art market is their ability to authenticate and
    prove ownership of digital artwork. This allows for digital art to be bought, sold, and traded like
    physical art and has led to a surge in demand for unique and limited digital artworks.

    The digital art market is constantly evolving, and it's exciting to see how NFTs are changing the way
    we think about art and ownership. From the first-ever NFT, #cryptopunks , to Beeple's
    record-breaking $69 million sale and the recent auction of digital artwork at Christie's, it is clear that
    NFTs are here to stay and have a significant impact on the art industry.

    Reference : https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9304798/

    2).The concept of digital currency is not new. If we were go back in time to 1983, David Chaum came
    up with the digital currency called ecash. Following the digital currency hullabaloo, between 1983
    and 2007, many virtual currencies were launched and disappeared. Because by then, eCommerce
    customers were devoted to credit cards. Later, decentralised and anonymous money became the
    foundation for Bitcoin. Satoshi Nakamoto introduced cryptocurrency through his white
    paper–Bitcoin: a peer-to-peer electronic cash system.

    Recently, both Cryptocurrencies and Central Bank Digital Currencies (CBDC) have been a topical
    subject and Crypto's in particular has been in the mainstream news since its inception. The first
    decentralized cryptocurrency introduced to users was Bitcoin, which first released as open-source
    software in 2009 as highlighted earlier by Satoshi Nakamoto (under a pseudonym). As of October
    2022 there were more than 9,000 other cryptocurrencies in the global marketplace, of which more
    than 70 had a market capitalization exceeding $1 billion (this number changes frequently due to the
    high volatility of the crypto market).

    There are multiple interpretations attached to the use of cryptocurrencies which includes whether it
    will replace fiat currencies and reduce the demand of central banks’ money, is it potent enough to
    become an alternative means of payment, or if is it as trustworthy as a replacement for fiat money.

    What is Cryptocurrency?

    Cryptocurrency is a digital currency (not legal-tender) in which transactions are verified and records
    maintained by a decentralized system using cryptography, rather than by a centralized authority. It’s
    a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of
    being physical money carried around and exchanged in the real world, cryptocurrency payments exist
    purely as digital entries to an online database describing specific transactions. When you transfer
    cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in
    digital wallets. The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best
    known today. Much of the interest in cryptocurrencies is to trade for profit, with speculators at times
    driving prices skyward.

    Reference:
    https://www.linkedin.com/pulse/cryptocurrencies-central-bank-digital-currencies-cbdc-mustafa-syed

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy