How Cryptocurrencies Work

November 05, 2018

The idea of a communal ledger for transactions is ancient. Cryptocurrencies like bitcoin have modernized the concept.

In this video, recorded at a recent Dialogue with the Fed event, St. Louis Fed Vice President and Economist David Andolfatto discusses how bitcoin has merged modern technologies with old ideas about commerce to facilitate digital payments.

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This blog offers commentary, analysis and data from our economists and experts. Views expressed are not necessarily those of the St. Louis Fed or Federal Reserve System.

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