Category Archives: Research

What is Bitcoin?

World governments are still struggling to understand bitcoin and its ramifications for the economy. Meanwhile, individual businesses are beginning to embrace bitcoin as it becomes more commonplace in the Middle East.

A company called The Pizza Guys in Dubai claims to be the first business in the United Arab Emirates to start accepting bitcoin. It began accepting the cryptocurrency in February.

Iran got its first Bitcoin exchange in 2013. Also in 2013, two entrepreneurs in Afghanistan performed what they said was the first bitcoin transaction in the country.

Meanwhile, the recent collapse of Mt. Gox, one of the world’s largest Bitcoin exchanges, led skeptics to question the viability of the cryptocurrency.

Duke University Fuqua School of Business professor Campbell Harvey discusses the basics of how the currency works, security concerns, and the future of bitcoin in the following video series.