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Overcoming Obstacles to Banking Virtual Currency Businesses
Virtual currency businesses (“VCBs”) offer an alternative payment rail to traditional banks and financial institutions. In order to operate, though, VCBs themselves rely on banks to conduct fundamental payment, savings,...
Why are there so many Bitcoin scams?
Bitcoin’s public narrative is that it represents a dramatic break with the past. Corporate supporters tout digital currency as a disruptive hotbed of innovation, while ideological advocates claim it will...
Bitcoin: Our Best Tool for Privacy and Identity on the Internet
Financial privacy is an umbrella term for both data security and privacy. We can think of security as the ability to hide information from all comers and privacy, following Nissenbaum’s...
Reporting from the EU Parliament: Building an Open Bitcoin Coalition
Yesterday I spoke at the European Parliament's STOA (that's Science and Technology Options Assessment) workshop. I was one of eight speakers discussing, "The Collaborative Economy: Impact and Potential of Collaborative...
Bitcoin is often described as a way to transact anonymously. But just how anonymous is it? Anonymity vs. privacy First off, it is useful to draw a basic distinction between...
What is Bitcoin mining, and why is it necessary?
Why does Bitcoin have “Miners?” Gold has miners because people want gold and it just so happens, unfortunately, that most gold is deep in the earth. Bitcoin has miners because...