Bitcoin and the Age of Cryptocurrency

What happened

In 2009 a pseudonymous figure known as Satoshi Nakamoto launched Bitcoin, a purely digital currency with no central bank behind it. It runs on a 'blockchain' — a shared public ledger maintained across a network of computers — allowing people to transfer value directly, without banks. Thousands of other cryptocurrencies followed.

Why it matters

Cryptocurrency is the most radical monetary experiment in centuries: money created and secured by cryptography and networks rather than states. Whatever its future, it has forced a fresh debate about what money is and who should control it.

Sources

• Bank of England. What are cryptoassets (cryptocurrencies)? · Reputable source