Many have wondered if bitcoin could be the next global currency. While you may have heard the term bitcoin thrown around, it is understandable if youre still fuzzy on the intricacies of this digital payment system. Before attempting to answer the question posed above, it is important to understand exactly what a bitcoin is.
Bitcoin is a relatively new technology; in fact, it is less than a decade old. Created back in 2007, bitcoin is the worlds first decentralized virtual form of currency. As of fall of 2016, it is now an accepted form of payment in dozens of countries around the globe. As more nations continue to adopt this groundbreaking technology, it increases the chances that bitcoin will in fact become the next global form of currency and one of the few not tied to a specific nations economy or a banking system.