Published On: Sat, Jul 11th, 2015

BNP Paribas says bitcoin’s blockchain could make some finance firms ‘redundant’

That's a huge thing for an investment bank to say, especially one of BNP Paribas' size — it's France's biggest bank.

Bank bnp-paribas-branch

 

French bank BNP Paribas says the technology underpinning bitcoin has the potential to make existing companies “redundant, ” a huge admission from one of the world’s biggest banks.

Analyst Johann Palychata writes in the company’s magazine Quintessence that bitcoin’s blockchain, the software that allows the digital currency to function, “should be considered as an invention like the steam or combustion engine, ” that has the potential to transform the world of finance and beyond … READ MORE

 

UK Business Insider, by Oscar Williams-Grut 

 

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