About This Course

This 3-hour course provides a comprehensive overview of the economic and technological environment surrounding the emergence of cryptocurrencies. The course will go on to explore the various ways to analyze bitcoins and ICOs.

Who Should Attend

  • Covered persons working in private banks
  • Wealth advisers
  • Financial professionals in the banking and financial services industry

Learning Outcomes

  • Understanding what is cryptocurrency technology stack and where blockchain, cryptocurrencies and ICOs fit in the stack
  • Understand the most important cryptocurrencies in existence and how they work
  • Understand how to analyze cryptocurrencies fundamentally
  • Know the various frameworks being utilized by the professionals to understand the “valuation” of cryptocurrencies
  • Understand how ICOs work and their “investibility”

Cryptocurrency Technology Stack

  • The Blockchain
    • Private vs. Public Blockchains
  • The Protocol Layer
  • The Tokens
  • The Application Layer
    • Token Sale and ICO


  • The Top 10
  • Digital Siblings
    • Eldest: Bitcoin
    • Other Siblings: Altcoins
    • Litecoin
    • Ripple
    • Ethereum

“Fundamental Analysis” of Cryptocurrencies

  • RIMD
    • Reasons or Existence (R)
    • Issuance Model (I)
    • Miners (M)
    • Developers (D)

“Valuation Frameworks” for Cryptocurrencies

  • Framework 1: Utility and Speculative Value
  • Framework 2: As a Technology/Network
  • Framework 3: Using Hash Rate
  • Portfolio Optimization
  • Would Bitcoin Appeal to Investors?

Initial Coin Offering (ICO)

  • How is Money Raised?
  • Where are the New Tokens Stored?
  • ICO vs. IPO
  • Steps to an ICO
  • Analyzing Companies Running ICOs
  • Risks of ICOs

Ng Lye Heng


Lye Heng possessed 13 years of working experience in the banking industry and is a derivative specialist. He started his banking career in the early 1990s and held roles as principal derivative trader and product structurer. He traded derivatives on stock indices and fixed incomes in global financial markets, spanning Tokyo, Hong Kong, London, New York and Chicago. He concluded his career in the financial industry by managing market risk on the global trading book of a local bank.

In 2004, Lye Heng set up Salmon Thrust, offering training and consultancy in the areas of Investment, Treasury and Wealth Management. Clients include various global banks such as Citibank where he conducted a series of comprehensive investment workshops for the 200-odd relationship managers based in Singapore. To date, he has provided learning solutions across a variety of products and wealth management topics encompassing thousands of seminar delegate-days both in Singapore as well as in China. Lye Heng has also been a CFA trainer since 1999 and CAIA trainer since 2009.

Lye Heng holds a Master's degree in Social Science (Applied Economics) from National University of Singapore, and a Bachelor of Business degree (Financial Analysis) from Nanyang Technological University. He is a CFA, CAIA, and FRM. He also graduated from the MIT-Fintech certification program and has been advising several Fintech start-ups in Singapore.

Lye Heng is the author of 3 IBF-accredited FTS online Fintech courses “Understanding Fintech”, “Technologies Behind the Bitcoin and its Blockchain”, and “Analyzing Bitcoins and Other Cryptocurrencies”.

The Financial Training Scheme (“FTS”)

The Salmon Thrust CPD Series is aimed at raising the competencies of Covered Persons. This course is recognised under the IBF Financial Training Scheme. Completion of this course can be counted towards the fulfilment of the non-STS portion for CACS CPD.

The Financial Training Scheme (“FTS”) is a training incentive scheme supported by the Financial Sector Development Fund (FSDF). The scheme supports financial sector-specific training programmes that raise the competency of the financial sector.

All our programmes are approved for listing on the Financial Training Scheme (FTS) Programme Directory and are eligible for FTS claims, subject to all eligibility criteria being met. For latest development on the Funding Support for IBF FTS, please visit the Financial Training Scheme site.

Early Bird Discount

Enjoy 10% early bird discount when you register one (1) month before the course commencement date.



Course Features
  • Duration
    1/2 Day
  • CPD
    3 Hours
This course is offered for our on-site corporate classroom training.
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