Why Bitcoin Won’t Fail the “Tests of Financial Services” Forever

In an interview at the World Economic Forum in Davos earlier, the senior adviser to the governor of the Bank of England weighed in about the threat posed to the current financial status quo by Bitcoin and other cryptocurrencies. Huw van Steenis largely dismissed the blockchain-backed fintech innovation on the grounds that Bitcoin had not yet achieved the kind of traction that more traditional forms of value storage or mediums of exchange had.
Van Steenis stated that he did not see Bitcoin a