A few days ago the
Citibank study on Bitcoin and other cryptocurrencies was released, where it explains that they should not be considered as disruptive for banks and other traditional institutions.
Citibank, in fact, published a 56-page report about bitcoin and digital currencies, – written by Keith Horowitz with contributions from Adrien Porter, Frieda Liao, and Michael Cronin; it also explains how Citibank sees lots of new opportunities in the blockchain technology.
This is an extract:
“The power behind an open network like bitcoin is the possibility of incorporating it with other technologies to bring about true innovation, such as applications that support the Internet of Things (eg machine-to-machine payments).”
Citibank study on Bitcoin
The Citibank study explains how bitcoin and the other digital currencies could revolutionize the market, especially where there isn’t a good payments infrastructure.
However, in this study on bitcoin there is a critical eye on the bitcoin benefits for payments, as the authors explain that they don’t believe the immutability of the blockchain to be a good thing for money transactions.
“Having written three reports on the topic of blockchain, one common theme we have observed is the limited use-cases for the peer-to-peer transfer of value due to a number of issues including scalability, network adoption and lack of a legal/regulatory framework for dispute resolution.”
Universal Wallet for Digital Currencies
Bitcoin and other digital currencies can be store in a universal wallet where you can manage and store in a safe way different kinds of cryptocurrencies, such as Bitcoin,
Peercoin, Ethereum, Dogecoin, Litecoin, Blackcoin and more.
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