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DENNIS PATRICK: THINKING ABOUT CRYPTOCURRENCY |
We live in fast moving and interesting times. Who would have thought a few decades ago that a challenge to the US dollar as a medium of exchange would arise? The advent of cryptocurrency has done just that. But not many folks grasp the idea of “electronic currency”. Come to think of it, what is the difference between a piece of paper on which is printed “One Dollar” backed by a verbal “promise to pay” and the idea of electrons standing for “one” of anything that people agree has value? As a neophyte in the world of cryptocurrency, what follows is what I have come to understand.
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