About the Report

This website, on behalf of the Federal Reserve Bank of Boston, hosts a comprehensive report titled "Bitcoin as Money," authored by Stephanie Lo and J. Christina Wang. The report delves into the usage and implementation of Bitcoin as a currency.

The Purpose of the Report

This report is a response to the significant surge in the price of Bitcoin, its growing public attention, and the scholarly interest it has garnered. It presents a policy brief that discusses Bitcoin's features and how they have impacted its ability to function as a genuine currency. The report covers various aspects such as its role as a unit of account, a store of value, and its usage as a medium of exchange.

Exploring Intermediaries

The subsequent section of the report explores the emergence and growth of different forms of intermediaries in conjunction with the adoption of Bitcoin. This exploration is rooted in theories of financial intermediation. It delves into the implications for the future evolution of intermediaries catering to Bitcoin and altcoin users.

Comparing Bitcoin to Innovative Fintech

The report also conducts a comparison between Bitcoin and other innovative fintech solutions for facilitating payment services. This analysis encompasses a broad consideration of factors that are likely to shape the future development of Bitcoin in comparison to alternative payment systems.

Predictions and Insights

The authors of this report predict that while large payment processors will continue to dominate due to economies of scale, Bitcoin will leave a lasting legacy by driving the development of new and innovative payment technologies.