Bitcoin was back in the news over the summer as the world’s most infamous unregulated digital money, what analysts now refer to as a crypto-currency. We published an article briefly reviewing the mother of all crypto-currency earlier this year. But bitcoin is not alone in this brave new niche. These days cryptos are popping up faster than the colonial currencies issued by the original colonies in what would become the United States prior to the creation of the modern U.S. dollar. So many are in digital circulation that it’s hard to keep up, and more are coming every month.
Up until now, many have suffered in one way or another from being too much like bitcoin. Bitcoin became well-known in part because of its wild swings in value, swings that are irresistible to speculators willing to gamble on up or down moves. But the same volatility that attracts gamblers tends to scare off businesses and consumers who might otherwise use one of these new forms of money for routine day-to-day commerce.
The public introduction of a new crypto-currency is called an Initial Coin Offering, or ICO, and it works in some ways like the more familiar initial public offering of a new stock. I’ve been following the development and release of one such virtual currency that was recently made public and sounds like it could be more useful for ordinary consumers than some of its many competitors. Dive in to learn more about one ongoing ICO, and how some of those features might actually work in the real world.
from Daily Kos http://ift.tt/2wsovLs
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