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Bitcoin's lasting legacy

Bitcoin's lasting legacy

Source: Boston Federal Reserve

The Federal Reserve Bank of Boston looks at the policy implications of bitcoin.

The brief discusses how some features of bitcoin, as designed and executed to date, have hampered its ability to perform the functions required of a fiat money - as a medium of exchange, unit of account, and store of value.

The authors predict that Bitcoin’s lasting legacy will be the innovations it has spurred to payment technology, although they content that the payment system will remain dominated by large processors because of economies of scale.

Download the document now 952.5 kb (PDF File)

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