• Text size      
  • Send this article to a friend
  • Print this article

Bitcoin 'to revolutionise trade'

The Bitcoin is on course to revolutionise global trading in the same way email, MP3s and digital photography flipped lifestyles and industries on their head, supporters have claimed.

Key players in the world of online payments are meeting in Dublin to debate why and when people will start moving to the much malig-ned digital cash system.

Much of the commentary and criticism of the radical currency has focused on its volatility, and its massively upward curve in value - it went from 14 US dollars (£8) in January 2013 to more than 1,100 dollars (£645) late in the year before collapsing to 400 dollars (£235) in April this year.

Experts meeting in Dublin later this week will examine how the focus can be moved from whether bitcoin is a viable currency to how it will be used to pay for goods and services a decade from now.

Nicolas Cary, creator of Blockchain.info, an online wallet used to store bitcoin and database of all transactions, said: "The digital world is part of our DNA now, it's part of how we share our experiences, how we consume entertainment, and how we stay in touch with loved ones," he said."

"It's impacting how we live our lives including how we pay for things."

"Let's not kid ourselves. Why can't money be digital?"

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.