Deloitte analysis shows how Bitcoin can help traditional fiat currency improve drastically in terms of speed, security, efficiency, cross-border payments.
A new study from financial services giant Deloitte highlighted the potential of Bitcoin (BTC) as a base to create a cheaper, faster and more secure ecosystem for electronic fiat currency or central bank digital currency (CBDC).Deloitte’s analysis, titled State-Sponsored Cryptocurrency, pointed out the need for a complete redesign of the traditional fiat ecosystem to overcome impending issues of being “slow, error-prone and expensive relative to performance in other high-tech industries.” However, the report pointed out five key areas where Bitcoin can help traditional fiat currency improve drastically — speed, security, efficiency, cross-border payments and collaboration with other payment participants:“With the potential to […] do it without the day-to-day ope
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