By Jamie Oppenheim Tuesday, April 24, 2018 Ripple co-founder Chris Larsen, an SF State alumnus, addresses students in Assistant Professor Shengle Lin’s Alternative Investment class April 9. Any list of the top news stories from 2017 will include an article about Bitcoin’s wild rise and fall.
The currency’s value per unit soared from $900 in the beginning of the year to nearly $20,000 in December, according to digital currency news site CoinDesk. Just a few days later, the price dropped about 30 percent.
Despite such wild swings, alumnus Chris Larsen (B.S. ’84), cofounder of enterprise blockchain company Ripple, predicts that new cryptocurrency technology will radically transform global business, and he said so in a recent classroom visit to his alma mater.
Larsen spoke to students during an April 9 event in Assistant Professor Shengle Lin’s “Alternative Investment” class. As Larsen sees it, the day-to-day trading of virtual currency isn’t as interesting as how blockchain technology is paving the way for something called “the internet of value”: a system of near-instantaneous exchange that would allow money to be sent online as quickly and easily as an email or a phone call.
“Currently, if you want to try to wire money from your bank to the U.K. it could take three or four days and it costs a fortune in fees,” he said. Read more from news.sfsu.edu…
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