From Films on Demand: "Since the creation of Bitcoin, the first open-source, digital currency, in 2008, the use of cryptocurrency has skyrocketed in use. Unlike traditional money, which is minted and regulated by a national government, cryptocurrency, or crypto, is unregulated and free of government oversight. Digital currency has become so popular that central banks in more than 80 countries have begun the process of gearing their monetary systems in that direction. Supporters applaud this trend and want the United States to adopt a digital dollar. ... Opponents, however, caution that digital currency is fraught with problems and subject to wild fluctuations in value."
It’s a multi-billion dollar industry that’s changing everything from how we make purchases to how we get loans. What is fintech all about? CNBC’s Elizabeth Schulze explains.