Devon Fulcher, Alexander Hoffman, Bobby Garza, Stan Kannegieter
Advisor: Chad Stolper
The most recent innovation in financial technology, cryptocurrency, provides for benefits beyond what government issued, fiat, currency can provide. Cryptocurrencies are more convenient in that funds can be sent directly to their recipient instead of through an intermediary, such as a bank or wire service. This form of digital money is more democratic than fiat currency by virtue of its monetary policy being determined by the consensus of its users. It is are more egalitarian because anyone, especially the unbanked, can participate in this economy.
For our King Creativity project we have constructed a cryptocurrency miner. This is a specialized computer that is connected to a network of peers for the purpose of verifying transactions between users. In exchange for verifying transactions, the owners of these miners are rewarded with small transaction fees. The funds our cryptocurrency miner has collected from these transaction fees have been donated to Internet Archive. Additionally, With the presence of a cryptocurrency miner on campus, our hope is to raise awareness about this emerging technology and to inform more people about its possibilities.