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Digital currency: Currency in the cloud

Posted on 26 February 2014

At the start of the millennium, the idea of a digital currency independent of governments or central banks and unbacked by physical reserves was viewed in much the same light as the flying car or the flux capacitor. However, a paradigm shift in digital technology since the internet boom has seen cryptocurrencies move from futuristic fantasies to real-world items in the space of two decades.
But as Bitcoin – the frontrunner in the race to monopolise the digital currency sphere – gains ever more traction, it has acquired a reputation as the currency of choice for some of society’s murkier elements. This reputation has not been enhanced by Bitcoin’s widespread use on underground online marketplace Silk Road before its closure by the US FBI last October………………………………………..Full Article: Source


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