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Crypto Cuse is the first official cryptocurrency club of its kind at Syracuse University.

The club is still in the early stages of development but is ready to recruit members from all majors and of all experience levels, said Conner Mayes, the founder and president of the club. Crypto Cuse plans to host weekly meetings in the Blackstone Launchpad at Bird Library.

Cryptocurrencies are exchangeable digital coins that use blockchain — a decentralized network that tracks individual currency transactions — to carry out exchanges.

Crypto Cuse will provide students with general information about cryptocurrency and the technology associated with it. The club will also teach students how to spot trends in financial charts, present investment ideas and eventually buy and sell different cryptocurrencies, Mayes said.

“I want to create a club that involves everyone,” Mayes said. “Cryptocurrency is a revolutionary technological innovation, and I’m excited about the next generation of our economy.”

Mayes launched the Crypto Cuse website, where he intends to provide updates on cryptocurrency and club news.

Linda Dickerson Hartsock, executive director of the Blackstone Launchpad and the club’s faculty advisor, said the launchpad can help innovative students move their ideas from concept to reality and understand the dynamics of creating a venture.

“Conner and his group of team members are experts in terms of understanding the framework of the cryptocurrency market, and I’m excited to see the club grow,” Dickerson Hartsock said.

Catherine Forrest, the club’s chief technology officer, said no prior experience is required to join the club. It will provide students with an environment of collaboration, exploration and opportunity, she said.

“Cryptocurrency and blockchain is inherently not easy to understand,” Forrest said. “It’s complicated because decentralized digital currencies have a lot of regulations to avoid embezzlement and money laundering, but that’s what makes it so expansive and global compared to standard currency.”

The club plans to host fundraising events and accept donations to fund club memberships and trips, Mayes said. Beyond educating students, the club hopes to eventually donate money to local schools to fund additional education on cryptocurrency, he said.

Zachary Goldstein, the vice president of the club, said the cryptocurrency market is flourishing and will likely continue to flourish as new regulations and opportunities emerge.

“Cryptocurrency is still in its infancy,” he said. “The adoption of using new and emerging technologies like cryptocurrency is for the future.”

The club hopes to connect members with experts from the Syracuse University Alumni Association and hold guest speaker events, Dickerson Hartsock said. It currently plans to host Jack Kuveke, a former SU student and co-founder of a cloud-based collaboration software company called Huddle.

Kuveke was the founder of an unregistered cryptocurrency club at SU, where students would informally gather once a week to talk about cryptocurrency and blockchain. Kuveke said it was harder to access cryptocurrency when he ran the club in 2017, so not many people took his endeavors seriously.

“I think it’s important in general to expose students to as much technology and financial assets as possible, and that includes cryptocurrency,” he said. “As an entrepreneur, I want people to be able to explore their own interests and make smart and reasonable investments that they can afford yet are willing to gamble.”

The early stages of peer-to-peer banking have already become visible within platforms such as Venmo and PayPal, Mayes said. Cryptocurrency and decentralized finance are changing the whole economy, he said.

“People may think cryptocurrency, in general, is a trend and that you shouldn’t buy into it, but I think cryptocurrency is the future,” Mayes said.

Published on April 19, 2021 at 8:03 pm

Contact Lilli: [email protected] | @LilliIannella