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Future Money: The problem with cryptocurrencies

In 2010, software developer Laszlo Hanyecz swapped 10,000 Bitcoins for two pizzas, and the first documented purchase of real world goods with cryptocurrency was complete. Nine years on from the first transaction and numerous peaks and troughs later, which cryptocurrencies have a future? Can currencies have real world applications without being backed by real assets? What are the legal and ethical implications of global digital currencies - do real world costs outweigh virtual benefits?

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The Royal Institution Albemarle St London W1S 4BS

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