Guests of O'Sullivan Davies Lawyers at the latest OSD
Presents event were given valuable insight into Bitcoin and
blockchain technology.
The presentation by Ian Love, founder and CEO of Blockchain
Assets, demystified Bitcoin, first with an overview of the history
of money and Bitcoin and then covering blockchain technology more
generally.
"Bitcoin is the most significant monetary invention in
history," said Mr Love.
Bitcoin enables transactions to occur peer-to-peer, facilitating
payments directly from one party to another without going through a
bank or financial institution. State issued currencies, which are
controlled by central banks, are often deliberately devalued so as
to stimulate domestic economies, this can create inflation. Bitcoin
on the other hand is a deflationary currency because its supply is
fixed and the rate at which it is issued is decreasing.
