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(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) (THE CONVERSATION) Cryptocurrencies like bitcoin are based on systems that are supposed to be inherently protected from fraud. Yet the U.S. Department of Justice has opened a criminal investigation into manipulation of bitcoin prices. How is that sort of activity even possible? From researching blockchain and cryptocurrencies for the past three years, I know that blockchain systems have some immutable security features. For...
(THE CONVERSATION) Big Wall Street companies are using a complicated technology called blockchain to further increase the already lightning-fast speed of international finance. But it’s not just the upper crust of high finance who can benefit from this new technology. Most simply, a blockchain is an inexpensive and transparent way to record transactions. People who don’t know each other – and therefore may not trust each other – can securely exchange money without fear of fraud or theft. Major aid agencies, nonprofits and startup compani...
