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Cryptocurrency has exploded in popularity since Bitcoin was invented in 2008.But what exactly is cryptocurrency, and how will it impact the future of society? We caught up with David Thompson, Chief Technology and Information Officer, to find out his thoughts.
Bitcoin (₿) is a cryptocurrency, a form of electronic cash.It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Western Union | Send money to 200 countries in 130 currencies | Trusted for 165 Years Send money to more than 500,000 agent locations and 100,000 ATMs and pay with your debit/credit or your US bank account.
The European Union has passed no specific legislation relative to the status of bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional (fiat) currency and bitcoin.
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