You’ve likely heard the term ‘Bitcoin’ bandied about frequently over the recent past. Be it in regards to ‘it being the future of money’, the ‘next big thing to speculate on’ or for Satoshi Nakamoto, its mystery-shrouded founder who was in the news several months ago, Bitcoin has always led people to one inevitable question: What the heck is it?
Being a phenomenon that is only just in its infancy, like any trend it is something that is often misunderstood. And not many people can explain it too, given that there are very few experts on this subject. I did come across one particular video in which the speaker, Wences Casares, the Founder and CEO of Xapo (a company operating in the Bitcoin space) recently delivered a talk explaining this intriguing new concept, and provides a clear, illustrative explanation of what this new phenomenon implies. In a way the rest of us can understand.
Listen in here: