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Bitcoin Could Disrupt Traditional Banking Globally

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Walton, Nigel (2014) Bitcoin Could Disrupt Traditional Banking Globally. The Oxford Analytica Daily Brief.

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Oxford Analytica - Bitcoin.pdf - Published Version
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Official URL: https://www.oxan.com/display.aspx?ItemID=DB188105

Abstract

Bitcoin is a virtual currency that has risen from virtual anonymity in 2009 to occupy a high profile position following extensive media coverage during the last twelve months. This media coverage has been partly the reason for the meteoric rise in the value of the currency to over $1,000 dollars. However, despite all the speculative trading of Bitcoins on the global exchanges, there appears to be a robust technology platform emerging in the form of a payment network offering cheaper and faster money transfer than any other options currently in existence. By combining Bitcoins with NFC (near field communication) – enabled smart phones, it is possible to create a new low-cost financial system that will eliminate the need for credit cards and bank accounts.

Item Type:	Article
Additional Information:	Staff and students at the University of Worcester have access to the full-text. External users should check availability with their local library or Interlibrary Requests Service.
Uncontrolled Discrete Keywords:	Bitcoin, banking, traditional banking, digital currency, mobile money, payment systems, virtual currency
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HE Transportation and Communications H Social Sciences > HF Commerce H Social Sciences > HG Finance T Technology > T Technology (General)
Divisions:	College of Business, Psychology and Sport > Worcester Business School
Related URLs:	Publisher
Depositing User:	Nigel Walton
Date Deposited:	09 Jan 2014 09:06
Last Modified:	17 Jun 2020 17:02
URI:	https://eprints.worc.ac.uk/id/eprint/2932

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