Abstract: Bitcoin was created as an electronic version of cash. The decentralized currency is revolutionary for its use of a distributed ledger. Rather than a central ledger held by a third party requiring trust of that third party, Bitcoin distributes that ledger to all users and removes the need for a third-party intermediary. Bitcoin is becoming "money without banks" for many users. It is difficult, but not impossible, for regulatory agencies to monitor Bitcoin activity.
Publication Year: 2014
Publication Date: 2014-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
Access and Citation
Cited By Count: 3
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