Cryptocurrencies: Core Information Technology and Information System Fundamentals Enabling Currency without Borders

Bitcoin, Litecoin, Dogecoin, et al "cryptocurrencies" have enjoyed a meteoric rise in popularity and use as a way of performing transactions on the Internet and beyond. While gaining market valuations of billions of dollars and generating much popular press in doing so, little has been academically published on the Computer Science/Information Systems (CS/IS) foundations of this phenomena. This paper describes these foundations. In doing so, it is hoped that the success of the cryptocurrency payment systems can be used to demonstrate to CS/IS students how computer theory can be integrated into other disciplines with dramatic results.