n. The use of cryptography and privacy techniques to enable financial transactions that are secret and anonymous.
Harvey has taught cryptofinance as part of an international finance course and has proposed teaching a new course next school year that would be "100 percent devoted to cryptofinance," including bitcoins.
There seems to be a truly peer-to-peer cryptofinance infrastructure on the rise. Altchain.org seems to be the most promising up and coming community that is directly addressing the anonymity and privacy concern by eliminating the need for a centralized server or exchange of any sort.
The economics of crypto-anarchy are really fascinating, but haven’t yet become practical or popular. Real-world banks have moved their services online and there are other popular online banking services such as PayPal, but neither of these options offer the true anonymity of real cryptofinance, where transactions can be made between secret parties through the use of cryptography and anonymous remailers.
A secret nod to Word Spy reader Lois Huffman for suggesting this word.