Crypto-Currencies

The rise of decentralized digital crypto-currencies like bitcoin is an interesting phenomena allowing for open trade without the backing of traditional banking mechanism as it is open source and P2P. Banks have been instrumental in financial transactions since the historical rise of banking as an industry from the days of the Medicci in Venice and crypto-currencies have successfully demonstrated that perhaps the idea of central administration and printed money is perhaps antiquated in this modern digital age. This naturally has most execs of the established order of banking a little concerned. And no other phenomenon is more interesting than the meteoric rise of the Silk Road trade system existing on the dark web. The part of the web where you and I rarely, if ever, tread. Silk Road successfully integrated virtually untraceable anonymous payments with conventional postal systems and supplied the unending demand for narcotic substances. While the end Silk Road aimed at is undeniably illegal it is worth noting that the means, say the system of distribution, the way it connected buyers and suppliers (read drug dealers) without the need for conventional banking system is absolutely marvelous. The digital infrastructure and the mesh of the ether and the real is frankly just ingenious. Read the detailed account of the effort to create and catch the perpetrators behind Silk Road here,

The Untold Story of Silk Road Part, Part 1http://www.wired.com/2015/04/silk-road-1/

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