WXXI AM News

bitcoin

Kodak made news when the former photo giant announced it will launch its own Bitcoin-like currency later this month called “Kodak Coin.” Kodak joins the cryptocurrency craze at a time when all eyes are on the market leader, Bitcoin. The digital currency saw a surge in 2017 yet some investors and researchers question its viability long-term and whether the “Bitcoin bubble”  as some call it will soon pop. RIT’s Josephine Wolff (Assistant Professor of Public Policy and Computing Security) and Bitcoin NYS Founder Gary Palmer Jr., weigh in on this segment of Need to Know.

The price of Bitcoin and other forms of crypto currency has exploded in the past month. A surge in interest has Wall Street wondering if the prices can stay this high, and average citizens are wondering if they should be buying this kind of currency. What is crypto currency? How does it work? What is its future?

Our guests weigh in:

CASE

Since the introduction of bitcoin in 2009, the digital currency has received a lot of attention: some good, some bad. From both technical and social perspectives, it has become an often-complicated phenomenon.

Bitcoin has begun gaining traction recently, and in the future, it could play a major role in how consumers and businesses pay for goods and services. But first, it has to solve its security issues. It has been associated with numerous scams, thefts and reported loss of bitcoin wallets, which store the private keys that you need to access a bitcoin address and spend your funds. 

One proposed solution is Case, a bitcoin wallet that emphasizes security and ease of use, according to the company’s CEO, Melanie Shapiro.