South Fulton to Host Bitcoin and Blockchain Meetup

On the heels of the recent announcement of bitcoin’s record high, reaching $4,000 a coin, South Fulton will host a Bitcoin and Blockchain Meetup on Saturday, August 19 at 11:00 a.m. at the Southwest Arts Center.

The event will be facilitated by Richard Scott, a South Fulton resident, entrepreneur and tech expert who regularly teaches courses on robotics, programming and other disciplines at Fulton County arts and community centers. South Fulton residents, those both familiar and unfamiliar with the technology, will have an opportunity to learn more about how bitcoin works and the technical and social aspects of bitcoin and related blockchain applications.

“Bitcoin and many of the over 800 cryptocurrencies and applications are transforming the way we coordinate human activity,” said Scott. “This technology is converging with Internet of Things (IoT) and artificial intelligence (AI) and innovation is flourishing.”

“This is a great opportunity for the community to learn how bitcoin is created, secured, spent and acquired,” he continued. “Event attendees will also gain an introductory understanding of blockchain technology, which is the underlying peer-to-peer protocol upon which bitcoin is built.”

The concept of bitcoin was first birthed in October 2008 by a person or group identifying as Satoshi Nakamoto. In a published paper, Nakamato detailed a peer-to-peer electronic cash system based on using software code to authenticate and protect transactions without the need for a centralized bank or government.

A marketplace was established for bitcoin in 2010. As the alternative currency evolved, issues of vulnerability were often debated and its legitimacy has been largely questioned in great part due to its use in illegal operations. However, the value of bitcoin surged passed one billion dollars in 2013, regulators began to see value and potential in the currency and now major corporations such as Microsoft and Intel are unveiling plans to bring blockchain to more businesses.

With economic development being a prevalent theme in talks about South Fulton’s transition to cityhood, these developments indicate that local residents and business owners may have to put past reservations aside and at least begin participating in conversations about what bitcoin’s rise could mean for the future economy locally, nationally and globally. Scott’s event offers an opportunity to begin that dialog.

According to Scott, now is a prime time for business owners to not only increase their knowledge of cryptocurrency and security, but also explore the advantages of placing some or all of their business practices on one of the many blockchain platforms.

The South Fulton Bitcoin and Blockchain Meetup is free and open to the public. Advance registration via Eventbrite is encouraged.

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