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Digital Currencies: The Future of Payments?

Digital Currencies: The Future of Payments?

  • March 2015
  • 31 pages
  • ID: 3375745
In this report:
It should be noted, though, that this issue may be mitigated if bitcoin goes mainstream, as its value is expected to rise as a result of heightened demand.
Indeed, fees are expected to be part of the bitcoin landscape going forward - and especially once the block reward halves, reducing miners' incomes.


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Digital currencies - particularly bitcoin - have vast disruptive potential in payments. These currencies have their weaknesses, but even if bitcoin itself never becomes popular, the technology that underpins it will change financial services entirely in the longer term.


- Gain an understanding of the main aspects of how digital currencies including bitcoin function, and their strengths and weaknesses.

- Learn what is being done with digital currencies currently, and how these implementations may be improved upon.

- Benefit from a tactical view of this emerging market, with a focus on how banks and payment providers should respond.

Great reasons to purchase

- What are digital currencies, and what impact might they have on your business project?

- How do digital currencies work and what benefits can they offer?

- Can digital currencies be adopted by financial institutions, and is it worth doing so?

- What action, if any, needs to be taken to remain efficient in the changing market?

- What are the challenges facing digital currencies, and how might they be overcome?

Key Findings

Bitcoin can offer faster and cheaper domestic and ? most significantly ? worldwide payment services than the majority of alternatives in the industry, threatening to displace the incumbents.

Bitcoin has numerous weaknesses containing the diminishing returns of the mining system, its complex security requirements, its volatility as a currency, and the lack of regulation in the sector.

Blockchain technology is the most crucial aspect of bitcoin and other cryptocurrencies, and can be adapted to numerous purposes both within financial services and in the wider technology market. Within the payments market, blockchain technology affords banks advantages in terms of speed, cost, and transparency.

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