Cryptocurrency
What is a cryptocurrency?
A cryptocurrency is a digital medium of exchange, or coin, that is used in virtual trading markets and is encrypted for safety.
What does FDI stand for?
Foreign Direct Investment
What does the IMF stand for?
International Monetary Fund
Mention two countries where cryptocurrencies are banned.
Bolivia, Colombia, China, Pakistan, Russia, etc...
What was the "Scramble for Africa?"
The Scramble for Africa was the invasion, division and occupation of Africa by European Powers in the 17th century and early 18th century.
How many members does the IMF have?
189 member states
Name two cryptocurrencies that ARE NOT Bitcoin.
Litecoin, Ethereum, Ripple, Bitcoin Cash, Stellar Lumens, EOS, Cardano, Monero, Tether, Dash, TRON, Dogecoin, etc...
What is a Greenfield FDI?
It is a type of foreign direct investment where a large company builds a new facility from scratch in a foreign nation.
What year was the IMF founded?
1944
What is mining and how does it work?
Process in which digital transactions are verified by miners. It is done with supercomputers that run calculations that verify the transactions.
Why did China begin to invest so much in Africa?
Because of its increased need in raw materials.
Name a country that is NOT a member of the IMF
Cuba, Andorra, North Korea, Liechtenstein, Monaco, etc...
What was the Silk Road? (Silk Road 2.0)
It was an illicit online market that operated in the deep web before the FBI shut it down
What does AGOA stand for?
African Growth and Opportunity Act. (An act passed by US Congress in 2000 that enhanced market access to Sub-Saharan Africa in the United States)
Name one action that the IMF does to ensure economic stability
It constantly surveils the economies of its member countries, it lends money to countries that are suffering a crisis and it trains countries so that their economies and policies can be modernized.