Bitcoin and the Age of Virtual Money

Kristof201803 Oct, 2018Business

Even money has gone digital. In a global commercial landscape that is changing by the minute the very nature of making and doing businesses has likewise changed and gone from fiscal to, well, virtual. Bitcoin as On-Line Currency Such is the nature of a currently growing bitcoin phenomenon. Bitcoins quite simply is virtual money collected through virtual transactions. Bitcoin is a digital currency created in 2009 that is now being used to buy or sell items from people and companies that accept bitcoin as payment. More specifically, it is digital currency where encryption techniques are used to regulate the generation of units of currency and to verify the transfer of funds without the need for an ‘actual’ central bank. Or perhaps more technically, bitcoin is cryptocurrency, a form of digital asset designed to work as a medium of exchange using cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. In many ways then,