Description:  Blockchain and digital assets (aka cryptocurrencies), led by Bitcoin, have emerged as part of a global conversation over the past decade, and there is still much confusion about all these terms and their underlying concepts.  This workshop is designed to help investment professionals gain a broad understanding of the blockchain and digital asset ecosystem.  There are a range of opportunities and risks to consider (because it is not for everyone!), and some important distinctions that must be understood before investing.   

Who should attend?  This course is designed for investment professionals, family offices, financial planners, and individuals interested in learning about blockchain and digital assets.  Beginners are welcome, as are those with an intermediate level of understanding in this space.  The more perspectives, the better the discussion!

Course introductory video: Watch here!

Course Outline:

• Understand the distinctions among Bitcoin, digital assets (aka cryptocurrencies), and blockchain
• Bitcoin 

o   Learn the history of, philosophy behind, and characteristics of Bitcoin

o   Discuss fundamental differences between Bitcoin and all other digital assets

o   Discuss market adoption for payments (PayPal, Square, etc.)

o   Discuss limitations of Bitcoin

o   Understand mining (“proof of work”)

§  Primary market function

§  Secondary market function

• Blockchains

o   Learn how blockchains, distributed ledger technology (DLT), and hashing algorithms operate through an interactive exercise

o   Discuss various applications of blockchain (outside of the currencies)

o   Discuss the debate between permissioned and permissionless blockchains

• Digital Assets

o   Understand the broad themes within digital assets, with a focus on the top 10 cryptocurrencies (by market cap)

o   Discuss emerging market perspectives on both digital assets and blockchain

• Investment Considerations

o   Willingness to take risk, capacity to take risk, and macro factors in allocating to digital assets

o   Historical performance, correlations with equities and gold, and diversification benefits

o   Learn about various custody solutions and concerns (cold storage and warm storage)

o   Learn about three ways to own digital assets (direct ownership, passive funds, and active management)

o   Discuss tax considerations (noting that rules vary by country)

o   Discuss regulatory environment for digital assets

• This workshop will be highly interactive, so come prepared to ask questions, engage the instructor and class, and have fun learning!

Separately, Bobby is a partner at DM Capital, a long-only public equity investment strategy with a concentrated portfolio of a dozen stocks.  Previously, he was a partner at SeaBridge Investment Advisors, advising wealthy individuals and family offices on global allocations across asset classes, and raising $200M over 11 years with the firm. Bobby earned an engineering degree and MBA, both from Georgia Tech.  He is a member of the Society of International Business Fellows (SIBF), and is very active in the Middle East Leadership Academy (MELA) and Central Eurasian Leadership Alliance (CELA), as well as mentoring in the Global Good Fund (GGF).  Bobby has traveled to 55 countries.  He also loves music, and founded the YouTube channel Chord Savvy, a music education platform.

Rating - General 
Material presented will be basic and of interest to a general audience having no background in the area. 



CFA Societies Global Passport Program

CFA Society Hong Kong has participated in the CFA Societies Global Passport Program which allows CFA society members to enjoy local society member rate at selected events like this luncheon.  Members of non-CFA Society Hong Kong CFA Institute societies qualify to attend this event at CFA Society Hong Kong member rates.  Please contact CFA Society Hong Kong at info@cfahk.org to register.