Senator Mike Rounds

@SenatorRounds ↗

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Last Checked Jan. 19, 2022

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Thu May 27 19:51:04 +0000 2021

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Senator Mike Rounds @SenatorRounds

Using bitcoin as an example: bitcoins exist in digital ledgers, but to prevent fraudulent exchanges, transactions are recorded in encrypted blocks. Each block points at the previous block and has a timestamp. Go where each block points and you get a chain, called a “blockchain”. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

The software used to make new CCs exists and is publicly available, which means that developing a new CC can be done in as little as a few hours. Honestly, it looks like a return to the days when each bank printed their own notes. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

This blockchain of transactions forms a distributed ledger that is difficult to modify and easy to verify (in theory); a ledger that is maintained collectively on a network with specific protocols to verify each new block in the chain, meaning that bitcoin exchanges are secure. — PolitiTweet.org

Posted May 27, 2021