I decided I needed to learn something about Bitcoin, cryptocurrency and blockchain consulting services. So, I attended a Skoda Minotti lunch and learn.
I’m certainly no expert. But our instructors gave us an overview that encouraged me to learn more. First, there are three types of blockchain: public, private and consortium. It seems banks are focusing on the consortium approach.
In simple terms, Bitcoin is a peer-to-peer version of electronic currency that allows online payments to be sent from one party to another without going through a financial institution. That means the IRS is very interested in tracking transactions.