Jun.27.2017 \/ 2:08 PM ET<\/p>\n
Bitcoin isnt like traditional currencies, and not just because it doesnt exist as actual coins or paper banknotes. <\/p>\n
Unlike traditional currencies like the dollar or euro, Bitcoin isnt controlled by a single government or central bank. Instead, every transaction involving the popular cryptocurrency is logged in a computerized public ledger called a blockchain. This collection of receipts is maintained on millions of devices around the world in individual collections called blocks. Each time theres a transaction involving Bitcoin, an anonymous data fingerprint appears in a block recording the exchange. <\/p>\n
This key innovation is the basis for \"Block Bills,\" a collection of paper banknotes that bring the virtual payment system into the real world. As works of art, the whimsical bills have no monetary value. But they provide a map to the inner workings of the Bitcoin systemand they have a subtle beauty all their own. <\/p>\n
In some way, the project is a loose data visualization, but I mainly wanted to make the bills be interesting on their own as artworks, says Matthias Drfelt, the Los Angeles-based artist who made the notes. <\/p>\n
Each of the 64 bills in the collection represents a single block in the blockchain ledgers. The colors vary according to the volume of transactions. A less colorful bill represents low volume, while a more color bill represents high volume. <\/p>\n
In some way, the project is a loose data visualization, but I mainly wanted to make the bills be interesting on their own as artworks. <\/p>\n
At the bottom of each bill is a white bar with symbols that represent the specific address of the Bitcoin. On the left is a series of dots that encode the history of all the transactions. The timestamp at the bottom-right corner of each bill indicates the moment when that block of transactions was created. <\/p>\n
Lastly, the centers of the bills feature an indistinct image of a human being or imaginary creature. The idea here, Drfelt says, was to create something that reflects all the supposed privacy and anonymity connotations that Bitcoin has.\" <\/p>\n
FOLLOW NBC MACH ON TWITTER, FACEBOOK, AND INSTAGRAM. <\/p>\n
Your Video Begins in: 00:00 <\/p>\n
<\/p>\n
See the original post here: <\/p>\n
Fanciful Bitcoin Banknotes Show How Digital Currency Might Look in the Real World - NBCNews.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Jun.27.2017 \/ 2:08 PM ET Bitcoin isnt like traditional currencies, and not just because it doesnt exist as actual coins or paper banknotes. Unlike traditional currencies like the dollar or euro, Bitcoin isnt controlled by a single government or central bank. Continue reading