Bitcoin technology dynamics. Part One.

If someone says “bitcoin” - there is a high probability you will associate this phenomenon with the “dark web”, money laundering and drugs. 

Alternative scenario – less dramatic picture, which in reality frightens with sharp price fluctuations  
and high risks. In other words, if you are not one of Bitcoin enthusiasts – your overall attitude towards Bitcoin can be overwhelmingly negative.

While Bitcoin is still an economic system with a marginal value, it starts to gain more and more significant supporters. Although Swedish banks do not want to do business with companies that work with bitcoin - there is huge interest in building their own trading systems and systems for transferring money based on so called blockchain which is the core part of Bitcoin.

Block chain is a digital log of all transactions made with the digital currency, however the same technology can be used to log the electronic information anywhere. Unlike banks' own logbook the block chain is anybody who's got a wish to read and verify the internal transaction information.

The attitude of banks like SEB, Nordea, Barclays and Goldman Sachs has changed dramatically – now these 3 banks  joined together in a group called  Distributed Ledger Group to see how they and other financial institutions can use blockchain technology. IBM is interested in using the blockchain security in the Internet of things, Microsoft now accepts Bitcoin as payment for such apps.

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