Bitcoin – What Is It and What Does It Mean to Business?

What is Bitcoin?

Bitcoin is a digital-only currency, or “cryptocurrency,” created in 2009. It has many (or perhaps all) of the characteristics of any currency, except it’s 100% digital and that it isn’t controlled by any bank or government—Bitcoin exists without any institutional support and parties transact without requiring a trusted third party, such as a bank. This is because the mechanism for recording Bitcoin transactions, which is called Blockchain, is secure and reliable.

These fundamental differences haven’t stopped people from using it: the total value of Bitcoins in circulation is now over $190Bn!

To find out more about Bitcoin and other cryptocurrencies, and what they’ll mean to your business moving forward, read our CEO’s Briefing:

Bitcoin - What is it? And What Does It Mean to Business?

Depending on how you look at it, either Bitcoin offers the ability to operate safely and freely, or it’s a “wild-west currency” without a trusted overseer.

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Freeman Clarke is the largest and most experienced team of fractional IT leaders. We work exclusively with ambitious organizations, helping our clients use IT to beat the competition and grow. Contact us and we’ll be in touch for an informal conversation.