George Bragues, an associate vice-provost at the University of Guelph-Humber, says cryptocurrency is a digital form of currency that’s not backed by the Federal Reserve Bank.
“Cryptocurrency exists in a decentralized format. It exists on peer-to-peer computer networks,” said Bragues.
On Tuesday’s edition of “Closer Look,” Bragues further explained that there are different types of cryptocurrency and that cryptocurrency is recorded and tracked on a blockchain (ledger).
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