Champions of cryptocurrencies claimed the new digital assets would upend conventional money and banks and circumvent traditional power structures. Now blockchain technology is going mainstream, even as speculators make and lose lots of real money.
The German capital is fast becoming a major center for the development of cryptocurrency systems. The Longhash Crypto Festival held in the city brought together participants from across the world.
A further drop in the value of Bitcoin and other cryptocurrencies has recently left investors nursing heavy losses. Many proponents are holding out for a new breakout, if their digital assets can go mainstream.
Venezuela's government wants to launch a cryptocurrency this month, but analysts are not giving it much of a chance. Named “petro,” it lacks just about everything that is needed to function as a currency.
In January, one Bitcoin cost about $700 (€589). Now it's reached $11,000. We look at what Bitcoin is, why it's inflating, and whether it's likely to become a common way for people to pay for stuff.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version