DTCI: Blockchains, Bitcoin and cryptocurrencies: What does it all mean?

August 9, 2017 By Jeffrey T. Gorham
The Indiana Lawyer

Blockchains, Bitcoin and cryptocurrencies have garnered a lot of attention over the past several months. (Note: The industry’s standard usage is that the capitalized Bitcoinrefers to code, whereas lowercase bitcoin refers to the unit of currency. For the sake of clarity, this article will refer to the currency as Bitcoin tokens throughout.) When Ethereum’s ether token soared from $8.29 on Jan. 1, 2017, to over $400 in June, public interest also exploded. Despite exponentially increased buzz around these concepts, most people fail to understand what they are, how they work and what purposes they serve. This article will give readers more information on blockchains, Bitcoin and cryptocurrencies.

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