Bitcoin, for the Good Guys


Bitcoin, for the Good Guys

Illustration: Namaah/ Arré


n the near future, on the Isle of Man in the Irish Sea, a few bored teenagers will stand in museum staring at notes of currency and metal coins in vacuum-sealed enclosures. “Men would once exchange goods and services through physical currency,” a curator will drone on as the teenagers take notes. These teenagers have heard of this kind of money; their parents once used it. But the idea of carrying around physical currency is outdated to them. They depend on a virtual currency that is transferred directly into their accounts. If they ever need to pay for dinner or go for a movie, they wouldn’t need banks or ATMs, but access to their mobile phones.

The reason these teenagers will never have to carry cash again is that the Isle of Man has bought into the vision of a mathematician from Gujarat, Nilam Doctor. In 2012, Doctor founded GreencoinX, the world’s first identifiable crypto currency. Recently, his company has won legal recognition to make the island of about 1.3 million people the first GreencoinX powered economy in the world.