Memo

To:

From: Zachary Wanser

Subject: Crypto-currency

Date: March 31, 2014

The purpose of this memo is to show how crypto-currency can become extremely popular and can allow businesses more opportunities.

Summary

In the last couple of years a new type of currency had risen from the depths of the internet and has been quite the talk since then. It all began with the launch of the currency that was dubbed the bitcoin. It started out slowly but quickly grew in value and popularity. Since it is a currency that is still in its infancy it is volatile and has no guaranteed value at any time.

Discussion

Crypto-currency is a relatively new type of currency that has been developing at a rapid rate in the past few years. It is entirely digital meaning that there is no tangibility to this currency which is unheard of, especially since it can be converted into physical currency. It is decentralized which means that it is the complete opposite of a bank in that it is completely powered by the people that use it. There is a sense of anonymity because people can’t tell who you are but they can see your past transactions. Due to the nature of crypto-currency it is volatile and the prices can drop or rise at any time.

Crypto-currency shows a vast amount of potential in becoming a staple currency of the world. There are various different coins each having their own prices which can range from hundreds of dollars to mere pennies. Each of the different types of coins can be exchanged into various currencies ranging from the US Dollar to the Euro. Countries have varying opinions on the use of this new currency and don’t deem it legal even though it is perfectly legal.

Recommendation

I always look forward to discussing this topic and its future. I can help to provide a basic understanding of crypto-currency and how to get started. Crypto-currency can provide a nice alternative way of payment for any business.