Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
How does Bitcoin work?
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and enables a user to send and receive bitcoins.
Behind the scenes, the Bitcoin network is sharing a massive public ledger called the “block chain”. This ledger contains every transaction ever processed which enables a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses therefore allowing all users to have full control over sending bitcoins.
Thus, there is no fraud, no chargebacks and no identifying information that could be compromised resulting in identity theft. To learn more about Bitcoin, you can consult the original Bitcoin whitepaper, read through the extremely thorough Frequently Asked Questions, listen to a Bitcoin podcast or read the latest Bitcoin news.
Bitcoin in Tunisia
Recently, the Tunisian Ministry of Communication and the Digital Economy Technologies has released internship offers around the Internet payment system “Bitcoin”.
The objective of this internship is to determine the advantages and disadvantages of the use of Bitcoin and its impact on the Tunisian banking system. The internship also includes a presentation of the applications being developed on the “Blockchain” (database of all transactions in the cryptocurrency). An initiative that could pave the way of Bitcoin in Tunisia. In this context ESPRIT jumped on the occasion and assigned a research team to achieve this.