KPMG: Bitcoin a Threat and Opportunity for Retail Banks

KPMG: Bitcoin a Threat and Opportunity for Retail Banks

Big four' auditing firm KPMG has published a report identifying bitcoin as both a threat and an opportunity to the banking sector. The report, titled The Changing World of Money, outlines the factors threatening established retail banks, whilst discussing the potential of cryptocurrencies as viable payment solutions. It states: "New challenger organisations, from banks to peer-to-peer lenders to PayPal and bitcoin are smaller, more agile and quicker to respond to changing trends." The document goes on to explain that these emerging forms of payments have "greater responsiveness to customer....


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Quotes

These past days, I have done a lot of thinking about Bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency.

Rick Falkvinge, IT Enterpreneur, Politician. Founder of the Swedish pirate party