KPMG will be exhibiting a bitcoin miner.

Bitcoins are the first form of currency created and secured by complex algorithms which don’t have a central government regulating it. Therefore, there is no central authority that can print it, distribute it or intervene with it. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

The “miner” is a specialised machine that lends its processing power to solve complex mathematical algorithms that generates Bitcoins as a reward. At the same time, due to its intricate workings it secures the global payments network for all bitcoin transitions.

Bitcoins, or virtual currencies more widely are seen as the first of their kind and have the potential to revolutionise the way we see, interact and use money.

KPMG are pleased to be showcasing this technology and are auditors of Jersey’s first bitcoin fund (GABI). KPMG supports the local industry by involving in DJL’s Proposition Development Groups (that have an element of virtual currencies)

KPMG are also kindly, for the second year running, sponsoring Dragon Hall’s attendance and provision of workshops at Tech Fair. Dragon Hall is a charitable trust, created to ensure children & young people get the chance to play, explore and develop with groundbreaking technologies.