Digital Currency

By Othman Darwish Researcher of products development use the term “platform” to describe projects, that create new generation of families of products, for a specific firm. Platform innovation firm provide the foundation and common components and technologies, acting as infrastructure, where other innovations can be built on, as result of this model, new innovations diffused rapidly. Digital Currency like Bitcoin come with different type of innovations: Product Innovation such as cross-border payments, irreversible transactions, and pseudonyms payments. Process Innovation where governance based on censuses between untrusted parties, rather than centralized party and authority, and this done through different consensus algorithms such as proof of work and proof of stack. Position Innovation, digital currencies are open source projects, the participating and the development is open for everyone. Paradigm Innovation which enable transferring money between two peers witho...

By Othman Darwish Scientific researches results, which forming the knowledge push source, is one of the major sources of innovations. In Digital Currency world, Satoshi Nakamoto, in his famous paper [1] ,founded the bases for fully decentralized, peer-to-peer payments model, without the need for any centralized trusted authority, this model of cryptographic proofs was a replacement for traditional trusted entity. The scientific breakthrough that Nakamoto come with it, was relayed on a proposal for a solution of well-known problem, in the distributed computed network –The Byzantine Generals Problem- [2]   .The emergence of distributed ledger technology or what is known as Blockchain , is forming the underlying technology which all today cryptocurrencies like bitcoins   built on   it. Although Nakamoto as individual solo researcher, the process of exploring and organizing the knowledge, became a systematic activity, which involve wide network of people sharing t...

By Othman Darwish Since its invention, Bitcoin challenged regulators all over the world, different regulatory options and actions taken by jurisdictions, such as public awareness/warnings, research papers and case studies, regulations for specific digital currency stockholder (e.g. exchanges regulations ), others regulatory trying to adapt existing regulations and interpret it in way that fit digital currencies nature and properties , some regulatory  went extremely and  found  Bitcoin a real threat to their nation currency and capital control , thus prohibit or ban it . Bitcoin facing different regulatory concerns on different levels, capital and currency control is main concerns for some countries (e.g. Chain and Russia), other jurisdictions pay more attention on other aspects, such as consumer protection, taxes evasion, and AML/CTF activates (e.g. USA, UK, Australia). Although existing regulations already in place to protect investors/consumers, prevent f...