Week 3 Course Project - Historical Context and Ethical Questions
Your Name
DeVry University
LAS 432 Technology, Society, and Culture
Date: March 16th
This study source was downloaded by 100000890439723 from CourseHero.com on 02-12-2025 04:04:00 GMT -06:00
https://www.coursehero.com/file/231220003/LAS-432-Week-3-Discussion-and-Assignmentdocx/
, Week 3: Course Project - Historical Context and Ethical Questions
Bitcoin technology was originally developed for a way for people to send money over the
internet. The digital currency was to provide an alternative payment system that would operate free
of central control and is a computerized adaptation of cash that appears as virtual tokens or coins.
You can utilize it to purchase or sell things from individuals or organizations that acknowledge such
installments. To make a Bitcoin transaction, Bitcoins are moved from a digital wallet, which are
received at the time of the sale from a crypto trade, to another person's using a site and the
individual's unique Bitcoin address. It is an invention that can help deal with harms that affect current
society. With this technology, people can easily manage and access information about money. Bitcoin
can be a good way for society to eliminate problems like corruption.
Bitcoin is the first significant blockchain innovation and was created out of the disorder of the
2008 Great Recession as the banks distrust their role in the financial system grew. The idea came
from Satoshi Nakamoto when he released a white paper titled Bitcoin: A Peer to Peer Electronic Cash
System describing that the Bitcoin as an electronic cash. Many people worldwide use cryptocurrency
to conduct transactions. They are just one of the several digital currencies that use the blockchain as
their foundational context. As Bitcoin got popular, blockchain technology also rose to fame, leading
to many ideas for how blockchain could be integrated into the banking industry’s value.
Another major blockchain innovation is cryptocurrency mining. When Bitcoin was made available
as a digital currency, a major concern was how transactions would be authenticated. To solve this
problem, the Bitcoin community established that transactions would be secured by undertaking energy
intensive calculations to validate each block called the proof-of-work
This study source was downloaded by 100000890439723 from CourseHero.com on 02-12-2025 04:04:00 GMT -06:00
https://www.coursehero.com/file/231220003/LAS-432-Week-3-Discussion-and-Assignmentdocx/
Your Name
DeVry University
LAS 432 Technology, Society, and Culture
Date: March 16th
This study source was downloaded by 100000890439723 from CourseHero.com on 02-12-2025 04:04:00 GMT -06:00
https://www.coursehero.com/file/231220003/LAS-432-Week-3-Discussion-and-Assignmentdocx/
, Week 3: Course Project - Historical Context and Ethical Questions
Bitcoin technology was originally developed for a way for people to send money over the
internet. The digital currency was to provide an alternative payment system that would operate free
of central control and is a computerized adaptation of cash that appears as virtual tokens or coins.
You can utilize it to purchase or sell things from individuals or organizations that acknowledge such
installments. To make a Bitcoin transaction, Bitcoins are moved from a digital wallet, which are
received at the time of the sale from a crypto trade, to another person's using a site and the
individual's unique Bitcoin address. It is an invention that can help deal with harms that affect current
society. With this technology, people can easily manage and access information about money. Bitcoin
can be a good way for society to eliminate problems like corruption.
Bitcoin is the first significant blockchain innovation and was created out of the disorder of the
2008 Great Recession as the banks distrust their role in the financial system grew. The idea came
from Satoshi Nakamoto when he released a white paper titled Bitcoin: A Peer to Peer Electronic Cash
System describing that the Bitcoin as an electronic cash. Many people worldwide use cryptocurrency
to conduct transactions. They are just one of the several digital currencies that use the blockchain as
their foundational context. As Bitcoin got popular, blockchain technology also rose to fame, leading
to many ideas for how blockchain could be integrated into the banking industry’s value.
Another major blockchain innovation is cryptocurrency mining. When Bitcoin was made available
as a digital currency, a major concern was how transactions would be authenticated. To solve this
problem, the Bitcoin community established that transactions would be secured by undertaking energy
intensive calculations to validate each block called the proof-of-work
This study source was downloaded by 100000890439723 from CourseHero.com on 02-12-2025 04:04:00 GMT -06:00
https://www.coursehero.com/file/231220003/LAS-432-Week-3-Discussion-and-Assignmentdocx/
