Bitcoin was created in 2009 by a still unknown
person named Satoshi Nakamoto. His goal was to create a decentralized currency, essentially
cutting out the banks as the middleman. He created a global ledger to track every
transaction using a technology known as the blockchain. Every time a transaction is made, another
“link” is added to the chain and the ledger is verified amongst a large network of computers,
making it virtually foolproof. The disruptive potential
is enormous. What if banks were no longer needed to hold
money? What if you could send money across the world
in the blink of an eye at little to no cost? We still don’t know whether Bitcoin will
be successful, and several major risks still remain The price can fluctuate 5% or more Other competing currencies have
formed, and regulations could stifle its adoption and growth Yet despite all these risks, Bitcoin provides
an exciting look into the potential of the blockchain and the future of our financial
system.