28 Jun '15, 10pm

Bitcoin and all that – and other evolving 'cryptocurrencies' - The Globe and Mail

After weeks and months of disclosure of the flaws (or worse) of numerous senators, it’s only fair to take some notice of their virtues, too. In addition to their proverbial sober second thoughts, they can sometimes be prompter thinkers than most members of the Commons. For example, the late Jim Flaherty, the former minister of finance, asked the Senate banking, trade and commerce committee to study “cryptocurrency,” bitcoin being the best-known phenomenon of this kind. The resulting report, published this month, begins candidly by saying that the committee at first “had only a vague idea of what” Mr. Flaherty was talking about. As it turned out, they came to prefer the term “digital currency,” shedding “crypto.” The committee members think that, on balance, digital currencies offer more opportunities than dangers, though the risks are real. They concluded, for the time bei...

Full article: http://www.theglobeandmail.com/globe-debate/editorials/bi...

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