Goldman Sachs: Bitcoin can create $210 billion in savings for customers and merchants

Yesterday a report from Goldman Sachs was released that identified at least 3 segments in which a cryptocurrency like Bitcoin can reduce costs: retailers, online merchants and remittance.  Below is an image of a chart that my friend Tuur Demeester tweeted about:

BiifP-HCAAAeAZY.png largeOverall, while GS found some benefits that Bitcoin brings, it also mentioned several challenges and risks. The takeaway according to TechCrunch is that, “Bitcoin likely can’t work as a currency, but … the ledger-based technology that underlies it could hold promise.”

See also: the report at Scribd and coverage from CoinDesk

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