Social networking permeates much of our modern day lives. So much so that entire industries and companies have emerged out of nowhere in an effort to cash in on one of man’s most basic necessities – the need to connect.
It was a busy couple of weeks for legislators and public service personnel in the United States.
At the surface, blockchain in government operations doesn't appear to be a likely match. There's a common perception that technology and governments are competing against one another. This is likely due to the fact that cryptocurrencies, for example, reduce or even eliminate the need for centralized institutions.
Bloomberg news reported that the Federal Bureau of Investigation ("FBI") has 130 pending cases which involve cryptocurrencies. Kyle Armstrong, a supervisory special agent with the FBI, made the comments on June 27, 2018, at the "Crypto Evolved" conference in New York City.
The first cryptocurrency emerged when Satoshi Nakamoto conceived Bitcoin in 2008. At the time, the world economy was approaching turmoil with the coming of the Great Recession. Economic crises typically result in centralized banks and governments buying themselves out of trouble by printing more money and flooding it into the economy. By contrast, Bitcoin created a financial system of limited supply with new coin mintage designated at strict ten minute intervals.