Bitcoin Find A Place At The World Economic Forum

Bitcoin is being promoted as the alternative to the world paper currencies like the USD, GBP, JPY etc. It has finally found a place the the World Economic Forum in Davos. Bitcoin gained notoriety last year when its price reached as high as $1500 before it crashed. It has also been plagued with a number of scandals that includes the Mt. Gox saga and the Silk Road. However it seems that Bitcoin is now slowly finding its place amongst the global business elite.

“From bucks to bitcoins,” is the title of the seminar due at Davos on Friday afternoon. It explores how the mainstreaming of digital finance could disrupt financial services and transform consumer behavior. This is a far cry from last year, when the most notable mention of the cryptocurrrency was when it was openly criticized by Treasury Secretary Jack Lew and JPMorgan Chairman and CEO Jamie Dimon on CNBC.

But Davos attendees can use digital currencies for a range of options this year such as paying for apartments, taking a toboggan trip or even splashing out on a new Nissan.

Now if you are not sure how bitcoin works. Watch this video below that explains how bitcoin work!