28 Feb '13, 3am

Will The Commonwealth Bank Support Bitcoin?

Will The Commonwealth Bank Support Bitcoin?

There’s no denying the Commonwealth Bank loves its technology. It spent billions refreshing the way it does business so that it could support cool stuff like real-time transactions and contactless/phone-based NFC payments, but what has it given us lately? What’s the next big thing for payments in Australia? Could this big bank be about to support Bitcoin? What even is Bitcoin, anyway? For the uninitiated, Bitcoin is a currency generated by its users by solving complex tasks with their computers. It can either be spent online, exchanged via peer-to-peer or traded for real-world money. That makes it sound a little silly, but that feeling wears off when you realise just how much this stuff is worth. An online Bitcoin-based trading floor recently suffered huge downtime after being busted into by hackers who made off with 24,000 coins worth over $US250,000 in the real world. Th...

Full article: http://www.gizmodo.com.au/2013/02/will-the-commonwealth-b...

Tweets

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