Have you heard of these digital exchange vehicles called Bitcoins? The encrypted, peer verified method of transferring secure information over the internet is an opportunity for people to take a step back from government and corporate control of trade, barter and certification.
Confused? Watch my primer for Bitcoin technologies I recorded live-to-air for Poptics TV.
Essentially Bitcoin is based on a method of encryption which allows data, of any sort, to be transferred in a peer-to-peer network of computers without tampering. As such it can also be used to verify documents and information of many sorts. The technology sees a lot of use in this area already and will see more.
It happens to lend itself well to transaction of currency and has come to be viewed as a currency itself in the form of Bitcoin, Litecoin, Dogecoin and many other imitators and innovators in the crypto coin space.
The Bitcoin system in particular is very transparent and easily monitored. I never had fun watching my bank account for confirmation of a payment. On the other hand Bitcoin transactions can be mesmerising to watch.
Check out some of the cool information monitoring that is going on with Bitcoin in this colourful video.
Try that with your online banking!
Bitcoin has received a lot of scruteny and mistrust from government and financial institutions. The Bitcoin Foundation responds clearly and brilliantly in this letter; Response to Senator re Bitcoin Fears.
In March I was a guest on Poptics TV and did another segment on Bitcoin. Specifically > Why You Should Care About Bitcoin. My piece is at 37 min 46 sec if it doesn’t forward automatically.
I have been exploring many companies using Bitcoin to do business and have invested my coins in some of them. This has proved to be quite rewarding. See my investment stats at the top of the page.
More to come