Canary Wharf has become cool! ... On Wednesday, George Osborne turned up in Canary Wharf to announce a new initiative that will explore the potential role of virtual currencies and digital money (Bitcoin to you and I) in Britain's economy.
The newspapers and airwaves have been full of comment about digital currencies (especially Bitcoins) over recent months. Many of these are full of "shock and awe" statements with prophesies of doom and the imminent collapse of society.
Think about it. Social communication is affecting a lot more than just your ability to get anything done because you want to tweet just one more time... this is the social society.
With media reports on Bitcoin's soaring price, the millionaires it has made and the growing number of businesses accepting it as a form of payment, many people are now asking whether it may become the digital currency of the future.
The buzz around Bitcoin continues. You cannot read a newspaper or blog without news, developments and investments in this most famous of crypto-currencies being mentioned and dissected.
You might have already heard of Crowdfunding - the phenomenon by which an idea for a project or invention is relayed to the public, usually via the internet, in order to attract funds and become a reality. This year it has hit the mainstream with a bang - with celebrities such as Zach Braff and James Franco using it as a way to attain revenue for their own movie projects.
Bitcoin, the darling of libertarian, fiat money avoiders, has plunged nearly 40% in a few short weeks. After an incredible run this year, soaring like a rocket from a bit more than $200 to $1,203 between October and late November, bitcoin has collapse back down to $752.
It's been quite a story, I'll give you that - Bitcoin was valued at $13 a unit at the beginning of the year and crossed the $1,000 barrier this week. Some have even suggested that it is a currency which will revolutionise the world of commerce. This is as fantastical as it comes.
Follow the money; an old investigative adage that says the money trail will ultimately lead to those at the heart of a crime. However, does this hold for all crimes? Particularly those online or those possessed of an extremely skewed value system.
You might say that during this long stretch of monetary history our freedoms and choice were restricted as we laboured away under state-imposed money systems. However, since 1990 there have been huge changes taking place.
For many today's raid will simply push the coins further into the murky black waters of the internet where only hackers and developers dare to delve. I mean why trust a currency whose most publicised users are drug lords and drug takers?
You wake up and decide to print out a million of pieces of paper with your face on the front. You've been very clever and made it so that these pieces of paper cannot be forged because the quality of the image is so remarkably high. You try selling these pieces of paper to other people in return for real money. Low and behold, people start to buy your paper off you and trade it amongst themselves. You are pretty pleased with yourself.
I've discovered that the Bitcoin is a new, virtual currency. Unlike the peso, the real or the pound, it's not run by a central bank. It doesn't have a picture of the Queen or, in the case of Brazil, nice pictures of animals. Instead, it only exists online.
In a recent interview about the digital currency Bitcoin, Stephen Colbert asked Adam Davidson of NPR's Planet Money about the value of money, sparking the response 'The problem with thinking too much about these questions is you start thinking, wait, what is money?'
Already we are seeing the birth of a digital currency in Bitcoin, pre-paid services from companies that are not banks, and the birth of technology companies that simplify the payment process for goods and services like Google's Wallet.
Stephen Armstrong delves into a futuristic world of mobile phones in the form of jewellery, biometrics and cryptocurrencies. He discovers however that new trends will only catch on if there's enough to tempt both retailers and consumers.