BNP Paribas: Bitcoin Will Fail Because it Lacks Characteristics of Traditional Banking

According to the UK’s Telegraph, international banking giant BNP Paribas have issued a report on the future of Bitcoin. For them, widespread adoption will be limited by cryptocurrencies’ deflationary nature, and the fact that they lack a “lender of last resort.” The bank claimed that cryptocurrency could pose risks to individual nation’s monetary policies too.
Interestingly however, the report focused on the hypothetical issues that could emerge if Bitcoin was to be