BNP Paribas: Bitcoin Could Make Financial Companies Redundant

The bitcoin block chain could potentially upend the existing post-trade infrastructure and make financial companies redundant, according to an analyst at BNP Paribas Security Services, an international bank. Johann Palychata, a research analyst at the company, makes this observation in the current issue of bank’s publication, Quintessence. This article marks the first time a major bank has acknowledged bitcoin’s disruptive potential of the existing post-trade infrastructure, according to financial observers. Palychata’s article constitutes a “huge admission for one of the world’s biggest banks” regarding bitcoin’s potential to make existing companies redundant, according to Oscar Williams-Grut in today’s Business Insider. Palychata’s […]

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