Cryptocurrency sounds suspicious just by moniker. Cryptography is like a more imposing form of the word “security”, and cryptocurrency can be difficult to wrap one’s mind around. It’s an exciting and volatile new form of currency that has millennials asking themselves whether it’s time to invest.
Banks and venture capitalists don’t like uncertainty, so why is Goldman Sachs rapidly investing in Bitcoin related startups and business ventures? The answer is to stay ahead of the emerging trend (even the IRS is saying Bitcoins are taxable). Cryptocurrency is a very real phenomenon that is starting to show itself in our everyday lives. There are strong odds that you’ve shopped somewhere this week that will accept Bitcoin as a source of payment. That snowball effect has given away to some interesting startups trying to solve fundamental problems related to currency.