Documentary of Explanation and the Impact of Bitcoin: The Bitcoin Experiment - Following the global economic crisis, more and more people are questioning the way global markets function. Some are turning to decentralised payment systems like bitcoin in an attempt to regain control of the economy. But what is bitcoin?
Following the global economic crisis, more and more people are questioning the way global markets function. Some are turning to decentralised payment systems like bitcoin in an attempt to regain control of the economy. But what is bitcoin? How will it impact the way we do business and can bitcoin really challenge the banks’ monopoly and democratise society?
Since 2009, the value of the bitcoin has varied by several million per cent. The currency has been linked with criminal networks and shady business. But despite the warnings, bitcoin has gone from obscure programme to billion industry. Currently there are about 100,000 Bitcoin transactions per day. In comparison, Visa alone has 4,000 transactions per second. This has led people to question if the system will work on a large scale.
Amund Sjølie Sveen takes us on a road trip across Scandinavia to learn more about bitcoin blockchains and digital currencies. Along the way he seeks out environments and meets people who have a relationship with Bitcoin, as users, lawyers, government officials, enthusiasts and sceptics.