Bitcoin is, as its creators say, an open source peer-to-peer and payment solution that uses encryption to make transactions safe and (most importantly) decentralized. You can call it a virtual
It’s been around since 2009, but apparently now is the first time it’s been used to purchase an electric vehicle, and namely a Tesla Model S sedan, acquired from Lamborghini Newport Beach from Costa Mesa, CA, whose representatives were “excited” that this fully-digital transaction had taken place.
The solution proposed by Bitcoin may be a bit disconcerting at first, but it actually sounds like a good idea, just as long as that cryptography theme they have going does not allow outside… intervention.
This crypto-currency doesn’t really look like it’s going away either, in fact , the extent of its use grows and diversifies; those who invested in it from the start have seen genuinely impressive returns in the four years the network has been operational.
It’s actually funny that Bitcoin was used to purchase the most suitable car it could have been used to purchase – the coin was probably moved around using the Model S’ in-built browser too.
Lengthy video explanation as to how it all works can be found below.
By Andrei Nedelea
Story References: businessinsider