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Cryptocurrency for the cautious business leader

October 11, 2022

Blockchains and cryptocurrencies went into a spectacular meltdown in 2022. Finance innovation expert, Professor Park, delves into the rise and fall of crypto in Episode 2 of the Rotman Executive Summary podcast.

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, LedgerHu, 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, a professor of finance at the University of Toronto Mississauga with a cross-appointment to the Rotman School of Management.

“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 keep an eye on cryptocurrency, or risk missing out on a game-changing technology.

Next month on 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.

Then, Professor Rachel Ruttan shares best practices for giving advice and constructive feedback that’s likely to be well-received. She explores the latest research in advice-giving and navigating complex emotions at work, blending insights from psychology into her management research.

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

The Rotman Executive Summary podcast is your inside track to the latest insights and innovative ideas from the University of Toronto’s Rotman School of Management. Through brief episodes you can listen to anytime, anywhere, the podcast offers specialized expertise, practical tips and fresh perspectives that will sharpen your own thinking and help organizations shape their strategic agendas.

New episodes will be released monthly on Spotify, Apple Podcasts, Google Podcasts and Soundcloud. Desktop listeners can also tune in on Simplecast.

Would you rather read than listen? Check out the full transcript of the cryptocurrency episode here.

Written by Jessie Park | More Faculty Research Profiles »

Meet the researcher

Andreas Park

Professor, Finance

Read his full biography