The Bitcoin Boom And The Quantum Threat

The Bitcoin Boom And The Quantum Threat

Share to Linkedin Could Bitcoin become the world's new reserve currency? As Bitcoin increasingly goes mainstream“”with PayPal PYPL , for example, adopting the high-flying cryptocurrency as a method of payment and Twitter's TWTR Jack Dorsey endorsing its use“”some commentators certainly think so. St. Louis Federal Reserve president Jim Bullard even issued a statement that Bitcoin poses no threat to the U. S. dollar in the global economy“”a case of trying to lock the barn door before the horse has even gotten inside. The appeals of Bitcoin to investors and financial institutions are many. Unlike government-issued currencies, the Bitcoin supply is carefully limited, which points to a monetary stability reminiscent for some of the palmy days of the gold standard. In addition, Bitcoin uses an encryption system that protects every transaction inside a ledger shared by all participants, forming what's known as a block“”hence the term blockchain. Some have dubbed blockchain the biggest innovation in banking since electronic markets were first introduced. According to tech guru George Gilder, blockchain encryption is even going to be the safeguard of the future digital economy, promising user flexibility as well as protecting privacy and security. Or will it? Almost two and a half years