Bitcoin’s underlying technology blockchain might also be used one day to produce new kinds of central bank money. But as a reliable store of value, bitcoin is much less useful, because its volatility is so extreme. All this said, the blockchain technology that underlies bitcoin is potentially very powerful. Blockchain technology might also be used one day to produce new kinds of central bank money. Central bank digital currency could start to replace the electronic payment systems that financial institutions use with each other.

Source: Mint November 30, 2017 13:52 UTC