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Cryptocurrencies: not disruptive but opening up new uses

A report from Citi Research does not view cryptocurrencies as a disruptive threat to banks or card networks, noting that centralised domestic payment systems provide a relatively good experience. "Unlike other industries (eg. newspapers) disrupted by distributed solutions, the benefit to the consumer from a decentralised system seems at best marginal with the only exception being anonymity," the report says. But cryptocurrencies can open up new markets such as applications that support the internet of things (eg. machine to machine payments). Another use case could be providing the unbanked with low-cost digital banking products on mobile phones. Interesting examples with Bitcoin include Circle (social payments), Abra (financial inclusion) and BitPesa (B2B payments). Report


  • Wednesday, 20 July 2016

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