The SWIFT Institute recently announced new investigate that “assesses either a tellurian financial village is usurpation Bitcoin as a current currency.” The investigate is formed on a operative paper initial published in Feb 2015, “Virtual Currencies: Media of Exchange or Speculative Asset.”
The paper has given been revised, and was republished final June. The investigate was conducted by; Dr. Dirk G. Baur from UWA Business School, Dr. KiHoon Hong from Hongik University College of Business and Dr. Adrian D. Lee from a University of Technology Sydney.
The authors inspect a attribute between digital currencies, essentially bitcoin, and fiat currencies. They weigh any “immediate risks that practical currencies poise to monetary, financial or mercantile stability,” according to a announcement.
“Contrary to required wisdom, a investigate shows that fiat currencies throng out Bitcoin, not a reverse, and that a pattern and distance of a Bitcoin marketplace deprives a banking of a dictated use as a middle of exchange.”
– KiHoon Hong, Hongik University College of Business
The SWIFT news is not a initial to claim that a distance of a bitcoin marketplace hampers a use as a middle of