There has been a lot of buzz surrounding Bitcoin and its role in our future during this last year. The once prominent currency in marketplaces such as the Silk Road, has fallen under scrutiny for its practices in use in the deep web. But, the question remains: Is Bitcoin still useful and should we be paying attention to it?
Some will say that it's lack of a centralized regulatory body makes Bitcoin investment a gamble to say the least. Many would agree. There has been countless hacks and stolen batches since its creation, which has reached the millions. Others argue that it's not traceable and that any currency that hides its owner is not beneficial to markets regardless of what's being sold. Articles have came out and discussed that Bitcoin sales aren't as confidential as one might think and tracing Bitcoin batches back to their owner is quite easy.
Whichever way you lean, Bitcoin has came up in conversations across the world and entrepreneurs are considering stepping down that path. A recent article released on TechCrunch this past week explained a new company, Case, which aims to protect Bitcoin wallets from security breaches.
Case is a small credit card sized device that comes equipped with a finger scanner, a camera, a GSM chip, and few other buttons. Case aims to tackle the security cloud that surrounds Bitcoin purchases through this device that scans QR codes and processes the transaction right at your fingertips.
This is a beneficial move to avid Bitcoin users and Case's early stages seem to be a positive move towards protecting digital currency. Others are not as impressed and still warn users of the dangers of Bitcoin use.
I'm excited to see if Case takes off. Either way, digital currency is an issue that centralized regulatory bodies continue to face with online purchases reaching 50% of all sales in the U.S. this past year. Time will tell for this Bitcoin based startup, but the opportunities for growth are there. It should be interesting to watch other third parties jump into the space as Bitcoin's use becomes more protected.
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