Blockchain

The rise of Bitcoin doesn't mean the end of banks. Here's why

Some of Bitcoin enthusiast Mike Caldwell's coins are pictured at his office in Sandy, Utah, September 17, 2013.Caldwell produces physical coins Bitcoins, which have been around since 2008, and have become a form of electronic money that can be exchanged without using traditional banking or money transfer systems. Bitcoins, touted by some experts as the future of money, gained in prominence during Europe's financial crisis as more people questioned the safety of holding their cash in the bank. REUTERS/Jim Urquhart  (UNITED STATES - Tags: BUSINESS SOCIETY)

According to history it is unlikely that blockchain-based currency will be allowed without some authority. Image: REUTERS/Jim Urquhart

Dirk Baur
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