Boston, March 19, 2014 – Bitcoin, the new poster child for bleeding-edge innovation in financial services, represents potential for faster, more efficient transactions and improved payment practices. A lot of kinks need to be worked out before this promise can be realized, however. The nascent Bitcoin ecosystem is truly akin to the wild, Wild West—for all the opportunity, risks, uncertainties, and dark-side use cases abound. Are Bitcoin and its brethren friend, or foe? Here to stay, or passing fad?
This report examines the Bitcoin phenomenon's good, bad, and ugly, from the landscape to abuses drawing regulator attention to obstacles that Bitcoin must overcome if it hopes to reach mainstream adoption.
This 18-page Impact Note contains five figures and six tables. Clients of Aite Group's Retail Banking service can download this report.