Recently, a number of people have asked me about how the digital currency BitCoin works. I have been looking for a good overview of how the currency structures value and accountability with no central owner and, so far, this video by the youtube author curiousInventor is the best I’ve seen.
The video is long (about 20 minutes) and gets fairly technical towards the end. Still, it’s good to know how a currency of growing popularity is grounded to ensure no one cheats the system. I think BitCoin really gets to the heart of what it means to own a piece of information. Who knows? It might even be a template for future developments on the front of privacy and data ownership.