Bitcoin is an electronic cash system that allows online payments to be sent directly from one person to another without going through a financial institution. With a foundation based in the District and the first ATM in Vancouver, British Columbia, the digital currency is become more of a reality.
Bitcoin entrepreneurs Jackson Warren, left, and Paul Szczesny near their Bitcoin ATM. Bitcoin “sort of frees people to trade with each other without friction,” says Warren, 30, a partner in setting up the world’s first Bitcoin ATM, which processed more than $1 million in transactions last month. “And I think wealth is sort of a product of human creativity in an environment of freedom.” Bitcoin “will have a major impact in the world,” he predicts, and thousands of such ATMs will pop up by the end of the year.Ben Nelms/For The Washington Post