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Can Bitcoin Kill Central Banks?

The case for Bitcoin as an alternative to central banks is based both on economics and technology. Satoshi Nakamoto, Bitcoin’s inventor, defined the cryptocurrency as a “peer-to-peer version of electronic cash” that allows “online payments to be sent directly from one party to another without going through a financial institution.” [image] Within the context of a financial infrastructure system dominated by central banks, Bitcoin solves three problems: First, it eliminates the problem of doub…