A SWOT analysis of Bitcoin is presented, which illuminates some of the recent events and movements that could influence whether Bitcoin contributes to a shift in economic paradigms. Blockchain technology is already used in several areas within financial services, including international payments. Now, some U.S. banks are creating their own blockchain-based systems, including digital currencies, to enable B2B cryptocurrency payments between their customers. Proponents say the potential benefits include reduced transaction fees and faster money transfers. Japanese banks are also creating payment systems based on digital currencies.
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