How can unrelated parties negotiate securely and transparently without having to rely on expensive intermediaries? Some programmers believe that bitcoin is the answer to that question and that it will revolutionize the way we do business.
What started as a nine page proposal in the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto (whose true identity remains unknown), has now become the way that more than 200,000 transactions per day are done. The rising popularity of bitcoin has caused markets and financial institutions to invest in the development of products based on this revolutionizing technology.
To understand what the buzz over bitcoin is all about and how to make the most of it, we need to become familiar with the concepts of bitcoin and blockchain, the opportunities that they are creating, and the approach that regulators are taking.