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University of Balamand > Academics > Faculties > Faculty of Business & Management > News & Events > Bitcoin Symposium

Bitcoin Symposium

The Faculty of Business and Management and the Faculty of Sciences organized a symposium on “Bitcoin” on Thursday May 22nd, 2014 in Batlouni Amphitheater on the UOB Ashrafieh campus. Bitcoin is currently the world’s largest virtual currency. It is not created by a central bank, but by a peer-to-peer network using an open source algorithm. This currency has changed the way payment methods are being made worldwide. Bitcoins were first introduced in 2009 and have caused great controversy since. Banque Du Liban is one of the central banks that have warned of the risks associated with trading Bitcoins while U.S. and some European authorities have started to accept Bitcoin gradually. The symposium was designed to put together academics, bankers, IT developers, telecom companies, merchants and entrepreneurs and to thoroughly explore bitcoin from both a technical and a financial perspective.

In his welcoming speech Dr. Karim Nasr, Dean of the Faculty of Business and Management, asked a number of thought provoking questions posed by the introduction of Bitcoins.

Fr. Antoine Melki, chairperson in the Faculty of Sciences, discussed the concept of Bitcoin and that institutions will soon accept the payments in Bitcoins.

Guests speakers were invited to share their knowledge of Bitcoin with the audience.
Dr. Patrick Mardini, Assistant Professor at the Faculty of Business and Management, mentioned that transferring Bitcoins is free as sending an email.

He also added that the first Bitcoin Automated Teller Machine (ATM) in the Middle East is located in Turkey which means that it is being spread.

The symposium ended up with a panel discussion coordinated by the financial news reporter Ms. Aline Hallaq. ​​​​
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