Cryptocurrency Defined

When we speak about legal tender or currency, we are usually speaking about money: Paper money or its representations, checks, or credit cards.

With the advent of the computer and the internet, new forms of currency have evolved. One of these new forms is Cryptocurrency. Cryptocurrency is literally a virtual currency. It is conducted and secured by cryptography (mathematical proofs) which makes it difficult to counterfeit or double spend. It is secured by using a blockchain model and we will discuss this to make it a little easier to understand.

Now, not all governments have accepted cryptocurrency as legal tender, but as this new form of currency is flourishing even on the retail level, they will have to come to grips with all that it entails. Forums, meetings, Bills, and Acts, and many of our governmental agencies are getting involved with it.

In this series, we will discuss Cryptocurrency and its influences on our economy now and in the future. We also will present current news stories that involve our government and cryptocurrency around the globe.