CAM June 2021

Page 40

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Now Accepting Bitcoin Cryptocurrency is here to stay by Andy Schwartze By this point, everybody has heard of bitcoin — which happens to be just one of about 400 different cryptocurrencies. According to Wikipedia, a cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Bitcoin, like other cryptocurrencies, typically does not exist in physical form (like paper money) and is typically not issued by a central authority. But when major players like Elon Musk begin to embrace it, it’s a sign of things to come—and even housing providers should take note.

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