Redefining Monetary Currency

Wences Casare's money talk explores the new age currency of Bitcoin by comparing the pros and cons of this digital form of money. While Bitcoin has already started to revolutionize how consumers use money, Casare points out that Bitcoin's structure needs a regulation system in place to prevent fraud and money laundering.

Bitcoin is essentially a digital form of money that can be used to make peer-to-peer payments without the need for oversight from a third party financial institution, such as a bank. Because of this, Bitcoin completely revolutionizes the way money is transferred internationally as well as over the Internet. One point to note is that Bitcoin is founded on a social spectrum and Casare mentions that there needs to be some form of consumer protection in place to ensure that all transactions are regulated and traced.

"People need to have options," Casare points out, "and I think that Bitcoin will become probably the currency of the Internet or of the digital world."