The first line of bitcoin’s founding manifesto states its goal: to create an online cash system that facilitates transactions “without having to go through financial institutions.” But recently, financial institutions have been investing in blockchain technology, which is the peer-to-peer accounting system bitcoin uses to circumvent banks. So will banks end up even stronger than they were before bitcoin came along?
Catch up on more episodes of Compound Interested:
Watch: “Is organic food a rip-off?” – http://bit.ly/2nX05oz
Watch: “Why so many tech companies are valued at over a billion without making a dime in profit” – http://bit.ly/2mjl4RV
Watch: “Young Americans are worried they’ll be renting forever” – http://bit.ly/2nXVaHA
Read: “America is about to find out what happens to the economy without undocumented immigrants” – http://bit.ly/2ng3qCJ
