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How Bitcoin Can Make Asset Managers of Us All

The Bank of England's recent report on payment technology and digital monies regarded the blockchain technologies that enables digital currencies a'genuine technological innovation' which could have far reaching implications to the financial industry.

The block series is an internet decentralised public ledger of all digital transactions that have happened. It is digital money's equivalent of a high street bank's ledger that records transactions between two parties.
As our modern banking system couldn't function without the means to record the exchanges of fiat money between individuals, so too may a digital network not work without the hope that comes from the capacity to correctly record the exchange of digital money between parties. btc double (

It's decentralised in the feeling that, unlike a traditional bank which is the sole holder of an electronic master ledger of its own account holder's savings the block chain ledger is shared amongst all members of this network and isn't subject to the terms and conditions of any specific financial institution or country.

A decentralised monetary network ensures that, by sitting outside of the evermore connected current financial infrastructure one can mitigate the risks of becoming a part of it when things fail. The 3 main risks of a centralised monetary system that were emphasized as a consequence of the 2008 monetary catastrophe are credit, liquidity and operational collapse. double ripple (
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