Slaughter, an expert on cryptocurrency and an associate professor at the Neeley School of Business, provides insight into the world of bitcoin and the increase of peer-to-peer finances.
February 24, 2023
By Jessica Tran
TCU Neeley Professor Kelly Slaughter explains the basics of cryptocurrency and speaks about the future of bitcoin in an interview with KBTX/CBS News. Slaughter defined cryptocurrency as a digital asset people put value in.
“The reason why they have value is because the community agreed that they have value… and that’s really the story of money for a millennium,” said Slaughter.
However, the value of currencies is not stagnant. Last year, the price of bitcoin dropped significantly due to economic and regulatory uncertainties, as well as the FTX collapse in November 2022. The combination of unreliability and misconduct enhanced the volatile nature associated with cryptocurrency, something Slaughter believes is independent from the fundamentals of cryptocurrency.
Bitcoin was created to facilitate peer-to-peer financial exchanges after the failure of intermediaries during the financial collapse in 2008 and 2009. If used in accordance with adequate regulations, customers are protected and can safely make use of digital currency. Slaughter said, “It [crypto] behaves the way people allow it to behave.”