Bitcoin: A revolutionary idea, but is it bulletproof?

 In the 1990s, entry of personal computing provided individuals and groups to communicate and interact anonymously, without the fear of state censorship. The idea, now known as the Internet, created an opportunity for the free flow of information and virtually erased the concept restrictive sovereign borders. Numerous ventures sprung out and many decimated during the 'Dotcom crash', but Internet still stayed relevant and gained significance. Such is the case now that a life without Internet is unimaginable —the idea of free exchange of information is bulletproof. Ove past decade, another idea with immense potential for disrupting the society germinated and is growing roots.

That idea — free flow of money — is called Bitcoin. Bitcoin, world's first decentralised digital currency, took birth in the aftermath of subprime mortgage crisis in 2008. During the global meltdown, confidence in government-backed currencies and their ability to manage the economy and the supply of money hit rock bottom. The crisis of faith dwelled as the US government used millions of taxpayer money to bail out banks after the 'quantitative easing' measure was adopted by the Federal Reserve. In the process, money was being printed to provide stimulus to an ailing economy but the oversupply of currency backed by very little economic growth led to a global recession from which many countries are still recovering.< It was around this time a paper under the pseudo name of Satoshi Nakamoto was published describing the concept of Bitcoin.

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