The arise in Bitcoin adoption and companies charity Bitcoin-based remuneration products is not going to impact a required payments attention anytime soon. The heading players in payments attention will continue to suffer their dominance, states a new news by Citigroup.
The report, expelled a integrate of days ago analyzes both payments attention and a digital banking attention to interpretation that Bitcoin is not a hazard to a likes of MasterCard and Visa. However, a news does not brawl a fact that a use of blockchain record will open adult markets for financial services, assisting them strech new customers.
Bitcoin and Existing Payment Solutions
Bitcoin now has a marketplace capitalization of over $10.8 billion, creation it clever adequate to be taken severely by a banking and financial services industry. Many banks and financial companies cruise a digital banking to be a threat. However, a stream state of bitcoin payments leaves most to be desired. The Citigroup considers Bitcoin to be a successful explanation of judgment for decentralized peer-to-peer account send and payments network. According to a report, a usually advantage offering by a Bitcoin network over existent payments solutions is anonymity (let’s make it transparent that bitcoin exchange are pseudonymous during best).
While Citigroup dismisses