Is Bitcoin A Blessing Or A Curse?

Bitcoin is a digital currency that was designed to provide an alternative payment system that operates independently of a central authority but otherwise functions identically to conventional currencies. Anoushka poddar, a 17-year-old student, odissi dancer and passionate advocate for social change, shares a detailed note on the pros and cons of bitcoins

- Anoushka Poddar

“Money won’t create success, the freedom to make it will.” The premise of Nelson Mandela’s statement is that the values that underlie material wealth in an economy often trump the existence of that wealth in itself. In short, trust is at the core of any monetary system. Unfortunately, recent failures in accountability and transparency have put this confidence to the test, leading to the search for new alternatives, such as cryptocurrencies. These have gained slow but enduring popularity since the introduction of Bitcoin in 2009.