The Bank Of England Just Said It Thinks Bitcoin Could Be Huge

The Bank of England has devoted two papers to the rise of digital currencies. It’s another demonstration of Bitcoin’s transformation from niche cyber-libertarian intrigue to a subject of mainstream interest. More significantly, the Bank suggests that the key innovation is not the digital currency itself — which is subject to wild fluctuations — but the “distributed ledger,” which tracks Bitcoin transactions. That ledger has the potential to revolutionize the financial system, the bank argues. Although…

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