Citi: Bitcoin a Threat to Debit and Credit Card Issuers
A recent report published by Citi suggests that bitcoin could challenge or even supplant some traditional payment services if adoption widens in future years. According to Citi GPS, a corporate publication owned by the financial institution, the technology underlying digital currencies has the potential to disrupt current-day payments structures. It cites debit/credit card systems and remittance services in particular, saying: "The essential innovation in bitcoin is that it can eliminate the need for a 'trusted intermediary' when the principals in a transaction do not trust each other.....
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