Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
It’s the next battleground to decentralize industries (banking) and methods of exchange (money) through technology. It’s also the topic of the final Step off the Edge for 2013 with Bryan Vu of Google. Step off the edge with us as we discuss the concepts of zero trust, protecting the network, what makes a money, how long should money last, do bugs in banking software cost you cash and the importance of democratizing banking.