The Future of Payments

Anyone holding bitcoin would have watched the market with alarm in recent weeks. The virtual currency, whose price other cryptocurrencies like ethereum and litecoin largely follow, plummeted from more than US$10,000 (£8,206) in mid-February to briefly below US$4,000 on March 13. Despite recovering to the mid-US$6,000s at the time of writing, some doomsayers have even wondered whether bitcoin will soon spiral back into three figures.

Cryptocurrencies are – finally – emerging as a genuine alternative payment method to fiat money. But how do they actually work, and are they worth the hassle?

Get our latest features in your inbox

Join our community of business leaders