The Russian and Venezuelan plans may sound outlandish, even in the financial Wild West of Bitcoin and its online competitors. But they underscore how the rise of virtual currencies is pushing governments around the world to rethink the most basic elements of their own currencies and financial infrastructure.
What has seemed like a fringe concept is starting to gain some level of acceptance in global finance. Several of the largest central banks in the world, including the Bank of England and the People’s Bank of China, have said they are looking at using the technology introduced by Bitcoin to track and issue their own digital currencies.
