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1. Martha G/Egziabher………………………...RAD/0285/13
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4. Fisehatsion Mulugeta………………………..RAD/0278/13
The term “cloud computing” itself was coined in 1996 within a Compaq internal document.
The term “cloud” was originally linked to the concept of distributed computing, which went
mainstream at Apple-spawned General Magic in the early 1990s, with even earlier mentions
in academic work before that. The concept was initially discussed by J.C.R. Licklider, the
first director of Information Processing Techniques Office at the Pentagon’s ARPA division
in the 1960s, according to Computerworld.
Licklider’s idea went on to revolutionize computing when, in 1969, Bob Taylor and Larry
Roberts developed ARPANET (Advanced Research Projects Agency Networks) and,
eventually, became the precursor of what we call the internet.
The decades following the 1970s saw the development of various Virtual Machines (VMs)
like those created by computer giants like IBM.elecommunications followed suit and started
to offer virtual private networks (VPNs) to the marketplace.
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1.1.2: Applications of Cloud Computing in real-world
Cloud Service Providers (CSP) are providing many types of cloud services and now if we sill
cloud computing has touched every sector by providing various cloud applications. Sharing
and managing resources is easy in cloud computing that’s why it is one of the dominant
fields of computing. These properties have made it an active component in many fields.
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IT resources and infrastructure. But Cloud computing provides the easiest approach
for development as well as testing even if deployment by using their IT resources
with minimal expenses. Organizations find it more helpful as they got scalable and
flexible cloud services for product development, testing, and deployment.
5. Anti-Virus Applications
Previously, organizations were installing antivirus software within their system even
if we will see we personally also keep antivirus software in our system for safety from
outside cyber threats. But nowadays cloud computing provides cloud antivirus
software which means the software is stored in the cloud and monitors your
system/organization’s system remotely. This antivirus software identifies the security
risks and fixes them. Sometimes also they give a feature to download the software.
6. E-commerce Application
Cloud-based e-commerce allows responding quickly to the opportunities which are
emerging. Users respond quickly to the market opportunities as well as the traditional
e-commerce responds to the challenges quickly. Cloud-based e-commerce gives a
new approach to doing business with the minimum amount as well as minimum time
possible. Customer data, product data, and other operational systems are managed in
cloud environments.
7. Cloud computing in education
Cloud computing in the education sector brings an unbelievable change in learning by
providing e-learning, online distance learning platforms, and student information
portals to the students. It is a new trend in education that provides an attractive
environment for learning, teaching, experimenting, etc to students, faculty members,
and researchers. Everyone associated with the field can connect to the cloud of their
organization and access data and information from there.
8. E-Governance Application
Cloud computing can provide its services to multiple activities conducted by the
government. It can support the government to move from the traditional ways of
management and service providers to an advanced way of everything by expanding
the availability of the environment, making the environment more scalable and
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customized. It can help the government to reduce the unnecessary cost in managing,
installing, and upgrading applications and doing all these with help of could
computing and utilizing that money public service.
9. Cloud Computing in Medical Fields
In the medical field also nowadays cloud computing is used for storing and accessing
the data as it allows to store data and access it through the internet without worrying
about any physical setup. It facilitates easier access and distribution of information
among the various medical professional and the individual patients. Similarly, with
help of cloud computing offsite buildings and treatment facilities like labs, doctors
making emergency house calls and ambulances information, etc can be easily
accessed and updated remotely instead of having to wait until they can access a
hospital computer.
10. Entertainment Applications
Many people get entertainment from the internet, in that case, cloud computing is the
perfect place for reaching to a varied consumer base. Therefore, different types of
entertainment industries reach near the target audience by adopting a multi-cloud
strategy. Cloud-based entertainment provides various entertainment applications such
as online music/video, online games and video conferencing, streaming services, etc.
and it can reach any device be it TV, mobile, set-top box, or any other form. It is a
new form of entertainment called On-Demand Entertainment (ODE).
With respect to this as a cloud, the market is growing rapidly and it is providing various
services day by day. So other application of cloud computing includes social applications,
management application, business applications, art application, and many more. So, in the
future cloud computing is going to touch many more sectors by providing more applications
and services.
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1. Back-up and restore data
Once the data is stored in the cloud, it is easier to get back-up and restore that data using the
cloud.
2. Improved collaboration
Cloud applications improve collaboration by allowing groups of people to quickly and easily
share information in the cloud via shared storage.
3. Excellent accessibility
Cloud allows us to quickly and easily access store information anywhere, anytime in the
whole world, using an internet connection. An internet cloud infrastructure increases
organization productivity and efficiency by ensuring that our data is always accessible.
Cloud computing reduces both hardware and software maintenance costs for organizations.
5. Mobility
Cloud computing allows us to easily access all cloud data via mobile.
Cloud computing offers Application Programming Interfaces (APIs) to the users for access
services on the cloud and pays the charges as per the usage of service.
Cloud offers us a huge amount of storing capacity for storing our important data such as
documents, images, audio, video, etc. in one place.
8. Data security
Data security is one of the biggest advantages of cloud computing. Cloud offers many
advanced features related to security and ensures that data is securely stored and handled.
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1.1.4: Disadvantages of Cloud Computing
A list of the disadvantage of cloud computing is given below -
1. Internet Connectivity
As you know, in cloud computing, every data (image, audio, video, etc.) is stored on the
cloud, and we access these data through the cloud by using the internet connection. If you do
not have good internet connectivity, you cannot access these data. However, we have no any
other way to access data from the cloud.
2. Vendor lock-in
Vendor lock-in is the biggest disadvantage of cloud computing. Organizations may face
problems when transferring their services from one vendor to another. As different vendors
provide different platforms, that can cause difficulty moving from one cloud to another.
3. Limited Control
4. Security
Although cloud service providers implement the best security standards to store important
information. But, before adopting cloud technology, you should be aware that you will be
sending all your organization's sensitive information to a third party, i.e., a cloud computing
service provider. While sending the data on the cloud, there may be a chance that your
organization's information is hacked by Hackers.
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Quantum computing, on the other hand, uses quantum bits or qubits. It harnesses the unique
ability of subatomic particles that allows them to exist in more than one state (i.e., a 1 and a 0
at the same time).
Classical computers are limited in terms of the size and complexity of molecules they can
simulate and compare (an essential process in early drug development). If we have an input
of size N, N being the number of atoms in the researched molecules, the number of possible
interactions between these atoms is exponential (each atom can interact with all the others).
Quantum computers will allow much larger molecules to be simulated. At the same time,
researchers will be able to model and simulate interactions between drugs and all 20,000+
proteins encoded in the human genome, leading to greater advancements in pharmacology.
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2. Diagnostics
Quantum technologies could be used to provide faster, more accurate diagnostics with a
variety of applications. Boosting AI capabilities will improve machine learning – something
that is already being used to aid pattern recognition. High-resolution MRI machines will
provide greater levels of detail and also aid clinicians with screening for diseases.
3. Treatment
Targeted treatments, such as radiotherapy, depend upon the ability to rapidly model and
simulate complex scenarios to deliver the optimal treatment. Quantum computers would
enable therapists to run more simulations in less time, helping to minimize radiation damage
to healthy tissue.
➢ In Finance
1. Automated, high-frequency trading
One potential application for quantum technologies is algorithmic trading – the use of
complex algorithms to automatically trigger share dealings based on a wide variety of market
variables. The advantages, especially for high-volume transactions, are significant.
2. Fraud detection
Like diagnostics in healthcare, fraud detection is reliant upon pattern recognition. Quantum
computers could deliver a significant improvement in machine learning capabilities;
dramatically reducing the time taken to train a neural network and improving the detection
rate.
3. Marketing
Quantum computers will have the ability to aggregate and analyse huge volumes of
consumer data, from a wide variety of sources. Big data analytics will allow commerce and
government to precisely target individual consumers, or voters, with communications
tailored to their preferences; helping to influence consumer spending and the outcome of
elections.
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➢ Meteorology
With so many variables to consider, accurate weather forecasts are difficult to produce.
Machine learning using quantum computers will result in improved pattern recognition,
making it easier to predict extreme weather events and potentially saving thousands of lives a
year.
Climatologists will also be able to generate and analyze more detailed climate models;
proving greater insight into climate change and how we can mitigate its negative impact.
1. Logistics
Improved data analysis and modelling will enable a wide range of industries to optimize
workflows associated with transport, logistics and supply-chain management. The
calculation and recalculation of optimal routes could impact on applications as diverse as
traffic management, fleet operations, air traffic control, freight and distribution.
These types of computers can perform computation at a much faster rate than normal
computers. Quantum computers have computation power higher than supercomputers also.
They can process data at 1000 times faster than normal computers and supercomputers.
Some calculations if performed by a normal computer can take 1000 years is done by
quantum computers in a few seconds.
Quantum computers are best for doing data simulation computing. There are many
algorithms created that can simulate various things like weather forecasting, chemical
simulation etc.
3. Medicine creation
These types of computers can work better in the medical field. They can detect diseases and
can create a formula for medicines. Different type of diseases can be diagnosed and tested in
scientific laboratories using these computers
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4. Google search
Quantum computers are used by Google to refine searches. Now every search on Google can
speed up by using these computers. Most relevant results can be populated using quantum
computing.
5. High privacy
These computers can make high encryption and is good at cryptography. It is impossible to
break the security of quantum computers. Recently China has launched a satellite that uses
quantum computing and China claimed that this satellite cannot be hacked.
Quantum computing is also used in making radar missiles. The accuracy of radar weapons
can be improved by using this technology.
These types of computers perform well in artificial intelligence. They can make decisions
more precisely than normal computers. Scientists can do better research using these
computers.
8. Machine learning
Quantum computing is applied nicely by using machine learning techniques. Users can use
less code and uses machine learning process for improving outcome.
1. Algorithm creation
For every type of computation, it needs to write a new algorithm. Quantum computers cannot
work as classical computers, they need special algorithms to perform tasks in their
environment.
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2. The low temperature needed
Due to the high range price, they are not available for public use. Also, the errors in these
types of computers are high because they are still in the development phase. Quantum
computers work fine in 10 qubits but after increasing qubits like 70 qubits, the accuracy is
not right. There are experiments already going on to make the results of these computers
precise.
4. Internet Security
It is assumed by the scientists that if a quantum computer is implemented in the best way,
then whole internet security breaks. This is due to the facts that these computers can decrypt
all the codes on the internet.
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purpose of autonomic computing is to decrease human management and lower maintenance
costs associated with break/fix, patch management, restarting services and problem
reporting. Removing human intervention promised to reduce costs, to improve service levels,
to enhance service levels and to simplify management.
The term autonomic means involuntary or unconscious and refers to the autonomic nervous
system that controls breathing, pupil dilation and contraction, and other neuromuscular
reflexes. The theory is that a computer system’s normal operations can operate at peak
efficiency because of in-memory monitors, scheduled actions and periodic housekeeping
tasks taking place in the background. One such autonomic system that system administrators
have put into practice for decades is the daily backup. Scheduled backups run independent of
all other system processes, restart if interrupted and have automatic reporting capability.
The idea of systems that are self-healing, self-managing and self-monitoring is not new.
Fiction writer Edward Ellis proposed the idea of a steam-powered mechanical man in his
1868 novel, “The Steam Man of the Prairies,” and Karel Capek coined the term, “robot” in
his "Rossum’s Universal Robots" in 1921. The revival and excitement surrounding
autonomous computing in the early part of the 21st century waned a bit with the widespread
adoption of virtualization and cloud computing. However, there is now a return to interest in
self-managing systems.
E-sourcing is the ability to deliver IT as a utility, when you need it, in the amount you must
have to accomplish the task at hand. Autonomic computing will create huge opportunities for
these kinds of services.
Other applications include server load balancing, process allocation, monitoring power
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supply, automatic updating of software and drivers, pre-failure warning, memory error-
correction, automated system backup and recovery, etc.
One area where autonomic computing can contribute significantly is Grid Computing. Grids,
empowered with the self-managing capabilities of autonomics can revolutionize computing.
And the applications are not just restricted to the IT industry alone.
There are several Grid Computing initiatives underway. The University of Pennsylvania, for
instance, is building a powerful grid that aims to bring advanced methods of breast cancer
diagnosis and screening to patients, while reducing costs. The Grid is a utility-like service
delivered over the Internet, enabling thousands of hospitals to store mammograms in digital
form. The Grid will provide analytical tools that help physicians diagnose individual cases
and identify cancer ‘clusters’ in the population.
But autonomic computing development faces some challenges too and it may be some time
before we see its implementation in applications like Grid Computing.
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“Higher order benefits will include allowing companies to better manage their business
through IT systems that are able to adopt and implement directives based on business policy,
and are able to make modifications based on changing environments.”
Chapter 2: Biotechnology
2.1: What is Biotechnology?
At its simplest, biotechnology is technology based on biology - biotechnology harnesses
cellular and biomolecular processes to develop technologies and products that help improve
our lives and the health of our planet. We have used the biological processes of
microorganisms for more than 6,000 years to make useful food products, such as bread and
cheese, and to preserve dairy products.
Humans have used biotechnology since the dawn of civilization. Egyptians used yeasts to
bake leavened bread, the Chinese developed fermentation techniques for brewing and cheese
making, and the Aztecs used Spirulina algae to make cakes. Today, when most people think
of biotechnology, they probably think of recombinant DNA. Although much of modern
biotechnology does deal with manipulating DNA, classical biotechnology began long before
we even knew about genes or chromosomes. What began as recipes for production of food
now includes technology to enhance everything from farming to pharmaceuticals.
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What we think of as modern biotechnology began around the end of the nineteenth century.
By then, Mendel's work on genetics was completed and institutes for investigating
fermentation along with other microbial processes had been founded by Koch, Pasteur, and
Lister.
At the beginning of the twentieth century, industry and agriculture started to incorporate
biotechnology. The growing automobile industry, for example, used fermentation processes
to produce acetone and paint solvents. By mid-century, major advances in genetics
dominated biotechnology research. The discovery that DNA carries the genetic code and the
structure of the "double helix" were described by Watson and Crick. Soon, new techniques
were developed to allow manipulation of DNA. Genetically engineered plants, microbes,
animals, and products like insulin, highlight the future of biotechnology.
The importance of the new genetics culminated in The Human Genome Project, an
international project instituted by the Department of Energy
and the National Institutes of Health to "map the human genome." The goal of this project is
to identify the structure of the entire human genome,
including its three billion base pairs and approximately 22,000 genes. The hope is that this
knowledge will help scientists identify, prevent and treat many of the illnesses resulting from
genetic malfunction.
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Industry and medicine alike use the techniques of PCR, immunoassays and recombinant
DNA. Genetic manipulation has been the primary reason that biology is now seen as the
science of the future and biotechnology as one of the leading industries.
One of the most important uses of biotechnology is the infusion of nutrients into food in
situations such as aid. Therefore, it provides food with heavy nutrients that are necessary for
such circumstances.
An example of this application is the production Golden Rice where the rice is infused with
beta-carotene. The rice has Vitamin A, which the body can quickly synthesize.
There is actually very little land on earth that is arable, with some estimates that place it at
around 20 percent. With an increase in the world’s population, there is a need for the food
sources available to be as effective as possible to produce as much food in as little space as
possible. There is also a need to have the crops grown to be able to make use of the less
arable regions of the world.
It means that there is a need to develop crops that can handle these abiotic stresses such as
salinity, drought, and frost from cold.
In Africa and the Middle East, for instance, where the climate can be unforgiving, the
practice has played a significant role in the development of crops that can withstand the
prevailing harsh climates.
3. Industrial Biotechnology
Industrial biotechnology is the application of biotechnology that ranges from the production
of cellular structures to the production of biological elements for numerous uses.
Examples include the creation of new materials in the construction industry, and the
manufacture of beer and wine, washing detergents, and personal care products.
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4. Strength Fibers
One of the materials with the strongest tensile strength is spider webs. Amongst other
materials with the same cross-sectional width, spider webs can take more tensional force
before breaking than even steel.
This silk has created much interest in the possible production of materials made from silk,
including body armor such as bulletproof jackets. Silk is used because it is stronger than
Kevlar (the material most commonly used to make body armor).
Biotechnological techniques have been used to pick the genes found in spiders and their
infusion in goats to produce the silk proteins in their milk.
With this initiative, it makes production quite easier as goats are much easier to handle
compared to spiders, and the creation of silk via milk also helps make the processing and
handling much convenient compared to handling the actual silk strands.
5. Biofuels
One of the biggest applications of biotechnology is in the energy production sector. With
fears over the dwindling oil resources in the world and their related environmental impacts,
there is a growing need to protect the globe’s future by finding alternative environmentally
friendly fuel sources.
Biotechnology is allowing this to happen with advances such as using corn to produce
combustible fuel for running car engines. These fuels are good for the environment as they
do not produce greenhouse gases.
6. Healthcare
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7. Food Processing
The method of fermentation using the microbial organisms and their derivatives is applied by
which raw materials that are non-palatable and easily perishable are converted to edible and
potable foods and beverages, which have a longer shelf life.
Applying bioremediation waste can be converted to biofuel to run generators. Microbes can
be induced to produce enzymes required to turn plant and vegetable materials into building
blocks for biodegradable plastics.
Methane can be derived from a type of bacteria that degrades sulfur liquor, which is a waste
product of the paper manufacturing industry. The resultant methane can be utilized in other
industrial processes or as fuel.
These can be produced using biotech applications. Traditional chemical synthesis uses often-
undesirable products, such as HCl, and involves large amounts of energy.
The production of the same chemicals can be done more economically and made more
environmentally friendly using biocatalysts. E.g., Polymer-grade acrylamide.
Biotechnology is used in the textile industry for the finishing of fabrics and garments. It
produces biotech-derived cotton, which is warmer, stronger, wrinkle & shrink-resistant and
has improved dye uptake and retention, enhanced absorbency.
These are essential components of modern detergents that remove protein impurities and are
used for breaking down starch, protein, and fatty acids present on items being washed. The
production of protease results in biomass that, in turn, yields a useful byproduct, an organic
fertilizer.
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12. Wound Dressings
It is also applied to the use of wound dressings coated with Chitosan, which is a sugar that is
typically obtained from shrimp and crab shells.
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approach of heating food products to remove harmful elements so they can be preserved for
an extended period.
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an equal and opposite reaction, future generations could pay the price for our research that is
happening today.
Biotechnology has done much to improve our way of life. It has helped the world to become
a much smaller place. At the same time, we still face many challenges that must be
overcome.
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Chapter 3: Blockchain
3.1: What Is a Blockchain?
A blockchain is a distributed database that is shared among the nodes of a computer network.
As a database, a blockchain stores information electronically in digital format. Blockchains
are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for
maintaining a secure and decentralized record of transactions. The innovation with a
blockchain is that it guarantees the fidelity and security of a record of data and generates trust
without the need for a trusted third party.
One key difference between a typical database and a blockchain is how the data is structured.
A blockchain collects information together in groups, known as blocks, that hold sets of
information. Blocks have certain storage capacities and, when filled, are closed and linked to
the previously filled block, forming a chain of data known as the blockchain. All new
information that follows that freshly added block is compiled into a newly formed block that
will then also be added to the chain once filled.
A database usually structures its data into tables, whereas a blockchain, like its name implies,
structures its data into chunks (blocks) that are strung together. This data structure inherently
makes an irreversible time line of data when implemented in a decentralized nature. When a
block is filled, it is set in stone and becomes a part of this time line. Each block in the chain
is given an exact time stamp when it is added to the chain.
• 1991
A cryptographically secured chain of blocks is described for the first time by Stuart Haber
and W Scott Stornetta
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• 1998
Computer scientist Nick Szabo works on ‘bit gold’, a decentralised digital currency
• 2000
Stefan Konst publishes his theory of cryptographic secured chains, plus ideas for
implementation
• 2008
Developer(s) working under the pseudonym Satoshi Nakamoto release a white paper
establishing the model for a blockchain
• 2009
Nakamoto implements the first blockchain as the public ledger for transactions made using
bitcoin
• 2014
Blockchain technology is separated from the currency and its potential for other financial,
interorganizational transactions is explored. Blockchain 2.0 is born, referring to applications
beyond currency
The Ethereum blockchain system introduces computer programs into the blocks, representing
financial instruments such as bonds. These become known as smart contracts.
• Bitcoin’s role
Posting their seminal whitepaper in 2008 and launching the initial code in 2009, Nakamoto
created bitcoin to be a form of cash that could be sent peer-to-peer without the need for a
central bank or other authority to operate and maintain the ledger, much as how physical cash
can be.
While it wasn’t the first online currency to be proposed, the bitcoin proposal solved several
problems in the field and has been by far the most successful version.
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The engine that runs the bitcoin ledger that Nakamoto designed is called the blockchain; the
original and largest blockchain is the one that still orchestrates bitcoin transactions today.
Other blockchains include those that run the several hundred “altcoins” – other similar
currency projects with different rules – as well as truly different applications, such as:
2. Digital IDs
With an estimated 1 billion people worldwide not having an identity, Microsoft is working
on creating ids to empower impoverished people and refugees. This would help in linking
them with the formal financial sector. It aims to do this through its Authenticator app. The
authenticator doesn’t just use a password. It uses an extra layer of protection that uses a code
or a token to identify a returning user or a device. It is an ideal way for users to control their
digital identities.
3. Healthcare
The patient, being the central point of the healthcare ecosystem, has the right to accurate
information. It can also be looked into as a matter of life and death. Privacy and security of
health data are very important. It helps in tracking the serials and batch numbers of
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prescription drugs. Hospitals have moved away from paper for recordkeeping and they use
blockchain technology to store patient data, which is kept confidential. The patient would be
given a number key to access these records, thereby keeping him in control of who can view
that data. Patient diagnoses can also be stored, so as to track the patient’s health history.
4. Wills or inheritances
Paper wills or inheritances can now be replaced with digital ones which can be created and
stored using the blockchain network. It must be used along with smart contracts as it would
make your document both legally binding and crystal clear as to who should receive which
assets when you pass away. This puts your end-of-life concerns to rest.
5. Food safety
Intriguing use of blockchain in food safety is the ability to trace your food from its origin to
your plate. Using the immutable nature of blockchain, the transport of food products from
their origin to the supermarket can be traced. In the case of food-borne illnesses, the source
of the contaminant can be traced quickly and accurately.
6. Digital voting
Voter fraud has always been a great concern. It will not be anymore. You can make your
vote truly count with the immutable nature of the blockchain. It will make voting transparent
and any changes made to the network would be noticed by the regulators. The token-based
system created using blockchain technology will ensure the system of ‘one unchangeable
vote per person.’
7. Real estate
Ownership and title details are stored on the blockchain, thereby making it easier to transfer
ownership and trace ownership. Eliminating paper from the equation, it offers a crystal-clear
picture of legal ownership. Titles are stored on the blockchain network and can be viewed,
altered, and updated whenever required.
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8. Data sharing
9. Weapons tracking
Blockchain technology would enable the federal government and law enforcement to track
weapon or gun ownership. It will act as an unchanging and transparent registry which will
also aid in keeping a record of weapons sold privately.
Copyright and ownership laws on music, videos, blogs, and other online content are a must
in today’s day and age. These laws can be made secure through blockchain technology.
Digital content downloads would be a good option as it ensures that the artist or the creator
of the content also gets their fair share. Blockchain would also provide real-time and
authentic royalty distribution data to content creators and musicians.
Due to the security reasons, this program was made in such a way that any block or even a
transaction that adds to the chain cannot be edited which ultimately provides a very high
range of security.
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2. Traceability
The format of Blockchain designs in such a way that it can easily locate any problem and
correct if there is any. It also creates an irreversible audit trail.
Do you Know the importance of Blockchain Technology
3. Security
Blockchain technology is highly secure because of the reason each and every individual who
enters into the Blockchain network is provided with a unique identity which is linked to his
account. This ensures that the owner of the account himself is operating the transactions. The
block encryption in the chain makes it tougher for any hacker to disturb the traditional setup
of the chain
4. Faster processing
Before the invention of the blockchain, the traditional banking organization take a lot of time
in processing and initiating the transaction but after the blockchain technology speed of the
transaction increased to a very high extent. Before this, the overall banking process takes
around three days to settle but after the introduction of Blockchain, the time reduced to
nearly minutes or even seconds.
1. Power Use
The consumption of power in the Blockchain is comparatively high as in a particular year the
power consumption of Bitcoin miners was alone more than the per capita power
consumption of 159 individual countries. Keeping a real-time ledger is one of the reasons for
this consumption because every time it creates a new node, it communicates with each and
every other node at the same time.
Let’s discuss Bitcoin and Cryptocurrencies in Blockchain
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2. Cost
As per the studies as an average cost of the Bitcoin transaction is $75-$160 and most of this
cost cover by the energy consumption. There are very fewer chances that this issue we can
resolve by the advancement in the technology. As the other factor that is the storage problem
might be covered by the energy issues cannot be resolved.
In each and every part of world modern money has been created and controlled by the central
government. It becomes a hurdle for Bitcoin to get accepted by the preexisting financial
institutions.
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