French bank BNP Paribas warned customers and investors that the technology behind bitcoin might one day overtake conventional, account-based financial institutions, thus rendering existing companies redundant (that’s British for “obsolete”).* It’s a tectonic acknowledgement from one of the world’s biggest banks.
Sure—You know the history. As it spread from the geeky crypto community, Bitcoin sparked investor frenzy. Its “value” was driven by the confidence of early adopters that they hitched a ride on an early train, rather than commercial adoption. But, just like those zealous investors, you realize that it may ultimately reduce the costs of online commerce, if and when if it becomes widely accepted.
At CES this past January, IBM researcher Veena Pureswaran described the company’s joint plan with Samsung to get home appliances to exchange cryptocurrency with one another. The currency, called Ether, is similar to Bitcoin, except that the traded commodity isn’t directly related to a financial value. Instead, Ether’s value is computing power.
What distinguishes the Ether and Bitcoin cryptocurrencies from traditional money is the online system that records their every trade. Networks of people called miners use the software to collectively verify and record these cryptocurrencies’ every trade. Like ever-growing strands of DNA, the currencies’ digital addresses, called blockchains, store the details of each trade. Bitcoin and Ether run on their own software platforms, but in both cases, a blockchain makes the whole idea possible. Read more
dark side). There are many areas in which Bitcoin could be improved, or made more conducive to one camp or another.
More than any other individual, Andreas Antonopoulos is 
