In 2019, Forbes reported that many online merchants and traditional payment businesses were starting to turn to innovations brought about by the crypto currency market place. “Crypto,” such as bitcoin, is decentralized currency that is not associated with the market of any one country, which makes it a prime candidate for a globally traded commodity.
Proponents of crypto point to its use of “blockchains” to perform transactions as proof that the currency is safe and efficient. A blockchain, as defined by IBM, is a shared ledger that is given to all members of a network. When a transaction is made, it is recorded in the ledger for all to see. A blockchain cannot be altered, so once the transaction is recorded, it will be visible to everyone in the network. This works as a transparency measure and a risk reduction technique.
Crypto Currency and Risks
No form of payment is without inherent risks, however. Despite the work of advocates, the overall market has been slow to adopt crypto currency as a major form of payment. NBC News expressed many critics’ views that crypto is “speculative and risky” by its very nature. As we move into a new decade in 2021, it may be time to take a hard look at the crypto currency world and judge it for its true merits and dangers.
The Glow Aesthetic Center Crypto Currency Study Scholarship
As a small business, Glow Aesthetic Center knows how important it is for college students to develop sound business practices and a solid understanding of financial literacy and health. As such we are announcing the 2021 Crypto Currency Study Scholarship, worth $2,500. Applicants must:
- Be a current college student or entering college as a freshman, and
- Show proof of good academic standing.
Applicants must research the crypto currency world and write a 500-1,000 word essay on the risks associated with crypto currencies. We want to know, based on the available data and evidence, what you think are the most serious dangers associated with crypto currencies. Submit your entry, along with the required qualifying information, via the application form on our website.
Members of Glow Aesthetic Center will form a scholarship submission committee to evaluate all entrants. Once we select a winner, that winner will be notified and announced publicly. He or she will also be featured right here on this website.
To be considered for the Glow Aesthetic Center Crypto Currency Study Scholarship, entries must be submitted on or before July 15, 2021.
How to Apply
Fill out the form on our application page and attach your essay on or before the deadline to be considered for this $2,500 scholarship.
Terms and Conditions
For a full list of our terms and conditions regarding the Crypto Currency Study Scholarship, see our terms and conditions page.