Bank Windhoek holds crypto - currency information session

February 19, 2018, 6:25pm

The immense interest in cryptocurrencies was evident on Thursday, 15 February 2018, when over 400 people attended an information session on Bitcoin and its supporting Blockchain technology hosted by Bank Windhoek.

Cryptocurrency expert, Gavin Marshall, from Blockchain Academy in South Africa, enthralled the audience with the origin and workings of Bitcoin and emphasised that its invention, together with Blockchain technology, is revolutionary and could change the future of how we deal with money in the digital age.

Setting the context for his talk on cryptocurrencies, Marshall started by saying, “The purpose behind us inventing numbers is so we could trade. As human beings, we have been trading for a long time.” Trade, Marshall explained, then took on the form of trading goods for paper as receipts for value backed by a guarantee held by a trusted third party or institution. The trusted third party has always been the verifier and authority over the debits and credits – or deposits and withdrawals against an account or ledger.