BNP Paribas Research Reveals 5 potential Disruptive Impacts of Cryptocurrencies

Research analyst of French financial institution BNP Paribas, identifies 5 ways cryptocurrencies could shake up finance and asset servicing, and suggests banks to "invest time and energy to understand how they can best make use of them."

Earlier this week, finance professor and former Federal Reserve Bank examiner Mark T. Williams, pointed out the top-10 risks associated with Bitcoin in a presentation at the World Bank conference. According the Williams, these risks include Bitcoin's sovereign attack risk, and the threat of an eventual collapse of central banks.

The professor has been subject to a lot of criticism from the crypto community, and a satiric website called, was even launched to highlight the professor's inaccurate predictions on Bitcoin's prices.

This time again, critics have been striking the professor on his most recent presentation. These critics mainly target his argument on the necessity of the monopoly power held by Governments over currency creation, which he believes is for the greater good of citizens.

BNP Paribas

"Governments exercise a monopoly power on currency creation with the understanding that doing so will provide its citizens with a greater level of economic stability," argued the professor.

Not everyone agrees with this statement, and Kyle Torpey from Inside Bitcoins is among the skeptics:

"Whether you’re talking about the United States or Zimbabwe, the idea that central bank regulators are economic monks that are immune from corruption and error is laughable. We’re only five years into the bitcoin experiment, and this new digital currency paradigm is already competing favorably with certain central banks around the world."

Further, Torpey noted the cases of Argentina and Venezuela, which are both experiencing severe inflation, to highlight the incompetence of such governments in providing "citizens with a greater level of economic stability."

While most of bankers have been