Chomping at the Bitcoin

Chomping at the Bitcoin

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In May 2013, China's main state-run broadcaster aired a documentary about a little known virtual currency called Bitcoin. Over the next six months, the value of Bitcoin rocketed as Chinese money poured in. Unfortunately for many latecomers, the rapid rise in Bitcoin's price and popularity also attracted government scrutiny, causing an unforeseen and catastrophic plummet in value. In this China Special, finance industry expert Zennon Kapron investigates this mysterious digital currency and the far-reaching implications of its use in China and around the world.Alibabaand Baidu, another techgiant, have launched mobile wallet solutions that allow users to use their smartphones tomake payments, while Tencent letsusers ofits instant messagingapp WeChat make payments through its service.

Title:Chomping at the Bitcoin
Author:Zennon Kapron
Publisher:Penguin UK - 2014-07-14


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