UNDERSTANDING BLOCKCHAIN & CRYPTOCURRENCIES
Motion Graphics Animation
Blockchain technology and cryptocurrencies were a major topic of debate throughout 2017. Even though the debate gained mainstream attention, most people didn’t understand the technology nor how it worked. Trusting experts to inform us was also difficult because of two things: the technology was also new to many of them, and given their investments in the technology, their objectiveness was questionable. Furthermore, supporters argued that cryptocurrencies would be the new way to perform most financial transactions, while detractors denounced it as a bubble waiting to burst. They both seemed entrenched in their position and once again questionable objective sources. As I had little knowledge on the subject, it was hard to completely trust either side of the debate. Because of this, I decided to make this technology the subject of my semester’s final project for my Master's in Design + Technology at Parsons School of Design. The main objective of the project would be to conduct my own research and create a piece of work that helped other people understand the technology from a more objective source.
The goal for this project was to explore the topic of cryptocurrencies, and through it, learn more about blockchain, the underlying technology behind these digital coins. Specifically, I wanted to learn how token systems and digital ledgers work and if they have the potential to enter the mainstream in the future. The final objective of this project will be to use the research I gather as inspiration for an audiovisual work that presents my conclusions and ideas on how cryptocurrencies and blockchain work today and how they might look like in the future.
Research and Process
This project involved a significant amount of research, so for the sake of the final project presentation I wanted to design a research process that was more engaging. To do so, I decided to make an investment of $200 in Bitcoins as part of the research process of my project.
This (left) is the initial Bitcoin buy at the beginning of my project. As part of my project's objectives, I aimed to gain an increase of at least 20% in the value of my Bitcoin purchase.
After researching cryptocurrencies and blockchain technology, I moved to develop my animation to present my findings.
If you'd like to learn more about this project you can read my project report here.