ISYS100 Lecture Notes - Lecture 6: Hyperledger, Digital Wallet, Distributed Computing
15 Aug 2018
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Document Summary
Goal is to cause fear, panic and destruction. Cyberterrorism will likely become weapon of choice. Cryptocurrency is a digital currency that is created through mathematical engineering (algorithm) It is designed to be open, anonymous, secure, fast and bypasses traditional financial structures. Bitcoin, created in 2009, was the world"s first cryptocurrency. Since then, many new cryptocurrency (also known as altcoins) have been introduced. Digital currency maintains its users complete anonymity. When you make a purchase with traditional money your personal information is attached to each and every transaction which can be used to track you and take not of your purchases. Hence, the interest rates, fees and surcharges that you may have to pay on your bank account or credit card do not affect your transactions or cryptocurrency in any manner. Accounts that hold traditional currency can be garnished or frozen completely. Cryptocurrencies, on the other hand, are not stored in traditional banks.
