Boston Fed Publishes Paper on Bitcoin
Cryptography enthusiasts aren't the only ones talking about bitcoin. This emerging digital currency has caught the attention of many different institutions, of which now includes the Federal Reserve Bank of Boston. Entitled 'Bitcoin as Money?' (direct link to document), the 28-page paper discusses a number of topics related to the digital currency, from an overview to the future of this payment system. Boston Fed Bitcoin Paper. I won't spend a lot of time going over the document for two reasons: the first is that the document is embedded above. The second is that I'm still going through it....
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The Federal Reserve Bank of Boston became one of the first members of the US central banking system to issue an in-depth paper on bitcoin last September that suggested the digital currency was emerging as a cost-effective online shopping tool. Fast forward to today, however, and the number of large merchants entering the bitcoin ecosystem seems to be stagnating. Though major e-commerce players such as Dell and Overstock are expanding the payment option overseas, there has yet to be a billion-dollar merchant of their stature to begin accepting bitcoin in 2015. In a new interview, Boston Fed....