Threats and opportunities for money and payments in the digital age

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The emergence of digital currencies in recent years has opened up a number of important questions. Unfamiliar technology, based on cryptography, is being put to unexpected use and holds the potential to alter the way payments are made. As the subject is new and complex, focus will be placed on the most prominent example of digital currency, bitcoin, including how it works, before describing the developments that bitcoin spurred and the implications for financial stability. The bitcoin protoco