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| Undergraduate Honours Projects | ||||||
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Carleton University - School of Computer Science Undergraduate Honours Project Fall 2011 Bitcoin: A Sustainable Example of Cryptographic, Decentralized Currency? Emmanuelle McCullough-Murray 
ABSTRACT As commerce increasingly moves online, problems with the current monetary system have become apparent. Trusted third parties can become a barrier to free commerce, controlling where customers can send their money. Bitcoin is a proposed alternative which has seen some success, by offering an anonymous, decentralized currency that is not controlled by the government or the banks. This paper will explain how Bitcoin works, as well as its strengths and weaknesses. It will attempt to determine if Bitcoin is a feasible alternative to traditional fiat currencies, or if it is the unsustainable result of too much hype and publicity. Finally it will present some suggestions for future digital currencies. |
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