So far, cryptocurrencies have been used as a form of electronic cash in which transactions are authenticated by senders using cryptography. Payments and balances are recorded using blockchain technology, which provides for frictionless speed of transactions, transparency and security. (It has been estimated that breaking the bitcoin key is as likely as winning the Powerball nine times in a row.) Still, government officials and bankers are not persuaded they are necessary, or even useful. But what if we turned cryptocurrencies into multipurpose digital tokens with a use value far greater than as a form of cash? ... (full story)