Bitcoin's Evolving E-Commerce and Security in the Cloud Environment
Bitcoin: Bitcoins Evolving E-Commerce & Security in the Cloud Environment
Derek Shamberger
Managerial Applications of Information Technology
DeVry University, Keller Graduate School of Management
June 14, 2014
Abstract:
Bitcoin is digital currency, new to old regimes of banking but recognized by various organizations for its high liquid properties. The currency is not respected by any government and yet through peer-to-peer networking the currency holds integrity. It is not exchangeable for commodities as gold to include the federal securities counsels will not furnish Bitcoin as legal. Numerous organizations receive anonymous contributions to their causes such as Wikileaks; adding more chaos to whether the currency is funding terrorism or constructed to meet the needs of a flourishing global economy.
This paper touches on relevant subjects as the users, Bitcoins decentralization, and the technology required making it a new standard in the banking community.
1. Abstract …………………………………………………………………………pg. 1
2. Table of Contents………………………………………………………………pg. 2
3. Background……………………………………………………………………..pg. 3
4. Business problem(s)…………………………………………………………...pg. 3
5. High level solution…………………………………………………………….. pg. 4
6. Benefits of solving the problem……………………………………………….pg. 5
7. Business/technical approach…………………………………………………pg. 6
8. Business process changes……………………………………………………pg. 6
9. Technology or business practices used to augment the solution…………pg. 7
10. Conclusions and overall recommendations…………………………………pg. 8
11. High-level implementation plan………………………………………………pg. 9
12. Summary of project…………………………………………………………….pg. 11
13. References…………………………………………………………………….. pg. 12
Background Bitcoin, a digital currency that utilizes P2P technology, and functions with no central authority has become a global intermediary in the e-commerce arena. BitPay through Bitcoin has helped a staggering 10,000 merchants across the world
Derek Shamberger
Managerial Applications of Information Technology
DeVry University, Keller Graduate School of Management
June 14, 2014
Abstract:
Bitcoin is digital currency, new to old regimes of banking but recognized by various organizations for its high liquid properties. The currency is not respected by any government and yet through peer-to-peer networking the currency holds integrity. It is not exchangeable for commodities as gold to include the federal securities counsels will not furnish Bitcoin as legal. Numerous organizations receive anonymous contributions to their causes such as Wikileaks; adding more chaos to whether the currency is funding terrorism or constructed to meet the needs of a flourishing global economy.
This paper touches on relevant subjects as the users, Bitcoins decentralization, and the technology required making it a new standard in the banking community.
1. Abstract …………………………………………………………………………pg. 1
2. Table of Contents………………………………………………………………pg. 2
3. Background……………………………………………………………………..pg. 3
4. Business problem(s)…………………………………………………………...pg. 3
5. High level solution…………………………………………………………….. pg. 4
6. Benefits of solving the problem……………………………………………….pg. 5
7. Business/technical approach…………………………………………………pg. 6
8. Business process changes……………………………………………………pg. 6
9. Technology or business practices used to augment the solution…………pg. 7
10. Conclusions and overall recommendations…………………………………pg. 8
11. High-level implementation plan………………………………………………pg. 9
12. Summary of project…………………………………………………………….pg. 11
13. References…………………………………………………………………….. pg. 12
Background Bitcoin, a digital currency that utilizes P2P technology, and functions with no central authority has become a global intermediary in the e-commerce arena. BitPay through Bitcoin has helped a staggering 10,000 merchants across the world
References: Connell, Justin (2013) CoinDesk News & Technology: Bitcoin Protocol. Retrieved on May 17, 2014 from www.coindesk.com/bitcoin-payment-protocol-makeover Kharif, Olga (2014) Bloomberg News: Bitcoin 2.0 Shows Technology Evolving Beyond Use as Money. Retrieved on May 17, 2014 from www.bitcoin.org Wile, Rob (2014) Business Insider: Bitcoin Civil War. Retrieved on June 12, 2014 from www.businessinsider.co/civil war Parker, David (2014) Crytocoin News: Future Capital Bitcoin Fund Plans To Invest $30M in Bitcoin Companies. Retrieved on June 13, 2014 from www.cryptocoinsnews.com/news/ BITCOIN BLOCK EXPLORER, http://blockexplorer.com (allowing users to see latest Bitcoin transactions, search for transactions or accounts, and so on) (last visited June 12, 2014).