North Korea, exiled from the global economy, turns to bitcoin

It’s tough to maintain a healthy national economy when most banks on the planet won’t accept your business.

That’s the dilemma facing North Korean leader Kim Jong-un, as mounting economic sanctions cut his country out of the world economy. To stave off the looming financial crisis, Kim has turned to what may be the nation’s best hope: Bitcoin.

SEE ALSO: Could Bitcoin’s secretive creator become the world’s first trillionaire?

The popular cryptocurrency is attractive because of its decentralized nature. Rather than relying on banks or individual governments, bitcoin (and other cryptocurrency) is built on a distributed network of users controlling verified transactions. It’s “internet money,” essentially, uncontrollable by any single actor. Read more…

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from WebHits.io Blog http://blog.webhits.io/north-korea-exiled-from-the-global-economy-turns-to-bitcoin/