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Virtual Currencies: Who is Cashing in?

What if currencies didn’t have to be so tightly regulated by the government, banks, or any entity for that matter? What if they didn’t have to exchange hands physically, but could move instantaneously between networks, countries, and continents? These questions and more have fed the curiosity around and built the disruptive movement of virtual currencies. No longer a theory, it has reached a $1.5 billion industry.

Thanks largely to the increasing popularity of bitcoin and Amazon Coins, virtual currencies are becoming widely popular. While other virtual currencies have been introduced (and sadly, failed) over the last two decades – some mired in controversy over their lack of compliance with the law and others lost credibility with the users. Bitcoin, with its anonymous roots and the traditional intermediates for a transaction cut down, maybe the cleverest of all and most likely to succeed.

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Vijay Kumar S L

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