What is the Cryptocurrency? Is it a Threat to Our National Security, Domestically and Globally?

Abstract

Since the rise of Bitcoin in 2009 and recent interest in digital currency is on an ascending trend, the question is how far will it penetrate in financial system other industries? How stable is this currency? With recent comments from CEO of Tesla Elon Mask, we saw a crash of 14% in Bitcoin stock overnight trades of any other existing crypto currency stock in open market came to a halt. Thus, one should be concern about stability of digital currency, providing no centralized banking standing behind any of these digital crypto currencies like we see in traditional banking business where currencies are being backed up and insured by Federal governments like FDIC in United States. In this short review, we have brought a high level of information from the web at a very holistic level, yet in a layman language for those readers that want to have a quick understanding of Crypto Currencies or Digital Currencies that seem a hot topic of today’s market.