Banking and the Blockchain

This note looks at addressing one of the most prevalent topics in society at the moment, Bitcoin and blockchain technology. Ambiguity exists between the infamous digital currency bitcoin and its underpinning technology architecture, blockchain. A brief background on this popular technology along with its benefits and concerns are discussed. One theme of this research points to how the efficiency and transparency of blockchain technology could possibly have a negative impact on the rent seeking model of Australian banks and ultimately, erode bank valuations. The threat to Australian banks is very real, however, not immediate, which allows us to continue our approach of factoring in all potential risks when seeking a fair price for Australian bank credit securities.

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