BitAssets: The Alternative of Physical Assets

Bitcoin has been a hot topic recently. With the acceptance from Baidu, the largest Chinese Search Engine Company, the price of Bitcoin soar to 350 USD each. The Bitcoin technology is not solely served for a digital currency. It has a lot more financial implications in the future.  For example, people can set up their own assets or stocks by creating a new digital currency themselves or using the existing block-chain of Bitcoin which is required another technology called Colored-coin. Through the mining or calculation of global network, the stocks or the assets can be circulated between the traders with little risk . The value of these specific assets or stocks are backed up by the traded value on the centralized exchange platforms. This technology can also be used to create virtual commodities such as gold and silver. As long as there are entities accept these forms of commodities. In the future, if one wants to have gold, one doesn’t have to own physical gold himself.