Tales from the Crypt: The Dawn of Crypto Currency

Abstract

The price of bitcoin hit an all-time high of $19,000.00 on December 17, 2017, sending the world into a frenzy about bitcoin and crypto currency in general. Interest groups, media circles, and populations of people that appeared so far away from the discussion were now participating, driving the world into a state of frenzy concerning the crypto currency phenomenon. As many will discover, crypto currency is beyond a phenomenon. It is an innovative mode of conducting business that is here to stay. This staying power will be driven by reputable sovereign states, such as Bermuda, developing the legal framework for a working model to domicile initial coin offerings (ICOs) and by the prospect of the approximately 2 billion adults without traditional bank accounts discovering the virtues of crypto currency to perform everyday transactions through their mobile phone.