How technology can help Bitcoins prove themselves

Written by Jenny Kurgan, Senior Producer, Money & Finance, CNN By now you’ve probably heard about Bitcoin — the “first digital currency.” It holds major value in the cryptocurrency world and boasts high transaction…

How technology can help Bitcoins prove themselves

Written by Jenny Kurgan, Senior Producer, Money & Finance, CNN

By now you’ve probably heard about Bitcoin — the “first digital currency.” It holds major value in the cryptocurrency world and boasts high transaction rates and, as its advocates say, complete anonymity.

But for all its ability to bypass traditional currency transactions, the tech, sold to investors and the tech community for its built-in security, also faces a paradoxical challenge: how to keep Bitcoin honest.

One possible answer: automation.

Cryptocurrency transactions can currently be handled by programmed algorithms linked to trusted computers, and can determine the value of the Bitcoin both in its currency and the person with whom it was attached.

But Bitcoin is changing. More than 50 distinct digital currencies have cropped up since 2009, and more are on the way.

As it follows new technological trends, and continues to undergo massive innovation, Bitcoin is growing into a new set of rules and regulations

But solving problems with regulatory and technical complexity could, for some Bitcoin users, mean a faster, cleaner and smarter currency experience.

Below, a selection of stories on the challenges and opportunities around Bitcoin.

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