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Digital Cash

 

Bitcoin, Blockchain, and the Future of Money

Charles McElroy is a student at the Virginia Military Institute studying electrical and computer engineering.  His interest in computers and economic theory sparked a deep fascination in Bitcoin during his senior year.  His analytical thesis on a digital money system reflects his passions and vision for the future.

ABOUT ME

Thesis

Bitcoin is the world’s first decentralized digital currency.  Bitcoin uses cryptographic algorithms coded in its architecture for the purpose of security and privacy.  The currency runs independently without any third party intervention. Blockchain, a digital ledger, serves as the intermediary for Bitcoin transactions and the public record for Bitcoin transfers, accessible to everyone on the network.  Many issues exist within our current money system, specifically the reliance on financial intermediaries which restrict the flow and efficiency of money. Bitcoin and Blockchain have the potential to create a world in which our money can be transacted faster, cheaper, and further than ever before.  

Charles McElroy

Bibliography

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