Will We Be Using Bitcoin To Buy Our Morning Coffee?
What is blockchain and cryptocurrency, and what does it have to do with buying a cup of coffee? Blockchain is an incorruptible digital ledger of transactions that can be programmed to record financial transactions, as well as almost any transaction of value. Some think it will do for money what the internet did for information by making it faster, cheaper and more pervasive.
One blockchain example is called cryptocurrency, the best known of which goes by the name of bitcoin. Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency, and verify the transfer of funds. Unlike traditional currencies, cryptocurrency operates independently of a central bank. But why have cryptocurrencies emerged, and rapidly escalated in value?