TEXAS, August 24 - Just 13 years ago, cryptocurrency didn’t exist. But in 2009, spurred on by technology and the desire of some to decouple currency from traditional banking institutions, Bitcoin was born. Fast forward to the present, and Bitcoin is but one cryptocurrency of thousands — with a total market cap in the trillions of dollars.

In this edition of Fiscal Notes, we examine cryptocurrency in general and consider the opportunities and challenges of mining cryptocurrency in Texas. If you’re curious about it or wondering what role the state might play, this edition is for you.

This month also is the official launch of our video series, “It’s Simple. Kind of …,” which offers lively explanations on big economic topics — all with the goal of helping Texans understand financial issues affecting our state.