Bitcoin, and the Future

Cryptocurrency, an encrypted, peer-to-peer network for facilitating digital barter, is a technology
developed eight years ago. Bitcoin, the first and most popular cryptocurrency, is paving the way
as a disruptive technology to long standing and unchanged financial payment systems that have
been in place for many decades. While cryptocurrencies are not likely to replace traditional fiat
currency, they could change the way Internet-connected global markets interact with each other,
clearing away barriers surrounding normative national currencies and exchange rates.
Technology advances at a rapid rate, and the success of a given technology is almost solely
dictated by the market upon which it seeks to improve. Cryptocurrencies may revolutionize digital
trade markets by creating a free flowing trading system without fees. A SWOT analysis of Bitcoin
is presented, which illuminates some of the recent events and movements that could influence
whether Bitcoin contributes to a shift in economic paradigms.