26 Feb '14, 4pm

Why Your Business Might One Day Accept Bitcoin (or Something Like It)

Why Your Business Might One Day Accept Bitcoin (or Something Like It)

Every day seems to bring a new headline about Bitcoin, the digital currency first created in 2008 by the pseudonymous programmer Satoshi Nakamoto. Yesterday’s news that Mt. Gox, the largest Bitcoin exchange in the world, will file for bankruptcy owing to the theft of nearly six percent of the world supply of bitcoins is a reminder that the digital currency is far from ready for primetime. The price of bitcoin remains highly volatile, its merits as a currency are contentious among economists, and its popularity thus far is inextricably tied to illicit activity. Yet, interest in the “cryptocurrency” is rising, and while its user base may be small, a growing number of merchants are choosing to accept bitcoin as payment. As The Washington Post’s Tim Lee has written , Bitcoin’s true potential may be as a digital payment protocol rather than as a true currency. In other words, B...

Full article: http://blogs.hbr.org/2014/02/why-your-business-might-one-...

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