At its core, Bitcoin is a completely
decentralized ledger system. It can be thought of as a massive
online version of an accountant’s book in which transactions are
recorded by deducting from one account and adding to another. Jerry
Brito believes this digital protocol promises to change more than
just the future of currency—despite government attempts to rein it
in.
from Hit & Run http://reason.com/blog/2013/11/19/jerry-brito-on-bitcoin-more-than-money
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