There have been many attempts at creating digital currencies, but Bitcoin has been the most successful and it is now being accepted by a number of major retailers.

Bitcoin is one of the leading digital currencies and operates as a peer-to-peer network. Its security is guaranteed by cryptographic algorithms instead of governments and it has the potential to become a major means of payment for e-commerce. It may even materialise as a viable challenge to traditional money-transfer providers. Instead of serving one country or some countries, Bitcoin serves the entire world.

So what is it about Bitcoin, and other digital currencies, that make them so attractive to users?

This means the supply of Bitcoin is even more inelastic than gold and the supply is also much more transparent than gold. Just like gold, Bitcoin does not decay and it is perfectly divisible, it has no issuing authority or country of origin therefore it is a truly global currency, so it could become the medium of exchange between any two parties anywhere in the world.

It is also the ultimate disintermediator since there is no central authority or bank. It requires no storage and is both a monetary raw material and payment system in one.

It’s easy to see why digital currencies are becoming attracting to a wider base of users. But what could the future look like? Download this report to find out!