11 February 2017
Bitcoin Basics

This page is for those who are new to digital currency. We hope to demystify bitcoin and help do our part in educating others about blockchain technology and how it can benefit communities around the world.

Bitcoin is a digital currency used by many around the world because it is secure, convenient, costs effective and accessible to people in places where there is poor banking infrastructure or a lack of reliable government institutions.

As with all new technologies, there was initial uncertainty and poor user knowledge around how bitcoin operated. This led to a few isolated cases of criminals trying to abuse the technology and early bitcoin users experiencing security issues. However, over the last few years, governments have since stepped in to provide regulation and support to the technology. Users and service providers are now more knowledgeable and have taken safety precautions to deter theft and abuse of the system. Challenges still exist but wide-scale bitcoin adoption around the world has seen governments provide more consumer protection and increase regulation in the area. This has been done in balance with the need to preserve the key strengths of Bitcoin – its accessibility, security and its costs effectiveness.

There is already a lot of great material produced by the enthusiastic Bitcoin community. Rather than reinvent the wheel, here is a list we have arranged for anyone who is interested to learn more (best viewed in descending order.) Please note some of these videos are a few years old and may contain different views of the authors. The status of Bitcoin has since grown.