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Infographic: how will Bitcoin disrupt the banking system?

Peer-to-peer cryptocurrency Bitcoin has economists asking an interesting question: do we need banks anymore?

Bitcoin reportedly was invented in 2008 by Satoshi Nakamoto and released as an open-source software in 2009, hailed as the Napster of finance. Its users can independently mine its digital currency and exchange payments with each other inside the peer network without a middleman — like a bank.

But beyond Bitcoin’s disruptive reputation awaits a power greater than a digital currency, an existing network and chain forecasted to both disrupt the financial system and the entire Internet as we know it.

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Source: Visual Capitalist

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