'Disrupting terror finance vital to counter-terrorism'http://www.moneylife.in/article/disrupting-terror-finance-vital-to-counter-terrorism/46440.html...
Kumar, who has studied public administration and philosophy, apart from international business, also mentioned the role of bitcoin -- virtual currency -- as a new phenomenon being used for transaction of money by terrorists and other criminals.
Bitcoin is a digital asset and a payment system which helps users to transact money directly without an intermediary.
According to Encyclopaedia Britannica, owners of bitcoins can use various websites to trade them for physical currencies, such as dollars or euros, or can exchange them for goods and services from a number of vendors.
Bitcoin relies on public-key cryptography, in which users have a public key that is available for everyone to see and a private key known only to their computers.
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