By Megan Herr & Thomas Dyer

Innovators have a tendency of identifying problems and subsequently creating a solution instead of the inverse. Great ideas do not make historic innovations; creative solutions to problems do. Cryptocurrency arose out of the identified problems contained in “traditional” fiat currencies. Transactions involving fiat currencies are often traceable by parties who should not otherwise have access to that information. Cryptocurrencies effectively address both of these problems, along with a handful of others through innovations including blind algorithms and the related blockchain technology.

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