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Bank Cryptocurrency : What is it? : WikiCrypto
WikiCrypto : Bank Cryptocurrency Answers : The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and the media. Bitcoin gained early notoriety for its use on the Silk Road....
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The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can have free access to, regardless of nationality, ethnicity, or faith. This aspect makes the implications for those in some countries more compelling, as those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products. Another privacy-focused cryptocurrency is not even based on bitcoin. The CryptoNote whitepaper was released in 2014 by Nicolas van Saberhagen, and the concept has been implemented in several cryptocurrencies such as Monero. 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In recent years, digital currency exchanges have been plagued by hacks, thefts and fraud.16 Of course, thefts also occur in the fiat currency world as well. In those cases, however, regulation is much more settled, providing somewhat more straightforward means of redress. Bitcoin and cryptocurrencies more broadly are still viewed as more of a 'Wild West' setting when it comes to regulation.17 Different governments view Bitcoin in dramatically different ways, and the repercussions for Bitcoin's adoption as a global currency are significant.18For example, imagine that John (who lives in the UK) wanted to send Bob (who lives in Kenya) some funds. 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