Earlier this month, hackers executed a global cyberattack, reportedly attacking over 150 countries, including public and health care systems and individual computers. The attackers demanded payment in bitcoin to unlock computers and return the data.
On the other hand, some of blockchain’s advantages can also be considered challenges, particularly issues relating to digital identity, privacy and cyber-security. Additionally, bitcoin’s market value is very unstable, which can result in substantial financial risks. This raises the question whether the use of bitcoin should be regulated and if so, to what extent?