Unlike other traditional currencies, this first decentralized digital currency works without a single administrator and central repository, unlike government - issued currencies.
While it's possible to buy these currencies with dollars or
other traditional currencies, it's often simpler to use bitcoins (which is the easiest digital currency to acquire) to buy them.
Bitcoin is a way to diversify your assets away from the dollar or
other traditional currencies.
In his speech, Mark Carney said that now is the time to treat cryptocurrencies just like
any other traditional currency and hold them to the same standards.
The system would include features such as easily converting your cryptocurrency holdings to
any other traditional currency.
In recent weeks we have seen IOTA and Dash growing fast and more than
other traditional currencies.