30 Sep '15, 3pm

Entrepreneurs Explore Bitcoin's Future

Entrepreneurs Explore Bitcoin's Future

When the digital currency Bitcoin came to life in January 2009, it was noticed by almost no one apart from the handful of programmers who followed cryptography discussion groups. Its origins were shadowy: it had been conceived the previous year by a still-mysterious person or group known only by the alias Satoshi Nakamoto. And its purpose seemed quixotic: Bitcoin was to be a 'cryptocurrency' , in which strong encryption algorithms were exploited in a new way to secure transactions. Users' identities would be shielded by pseudonyms. Records would be completely decentralized. And no one would be in charge—not governments, not banks, not even Nakamoto. Yet the idea caught on. Today, there are some 14.6 million Bitcoin units in circulation. Called bitcoins with a lowercase 'b', they have a collective market value of around US$3.4 billion. Some of this growth is attributable to...

Full article: http://www.scientificamerican.com/article/entrepreneurs-e...

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When the digital currency Bitcoin came to life in January 2009, it was noticed by almost no one apart from the handful of ...

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