Johann Palychata, a research analyst with BNP Paribas Securities Service designed two different scenarios for the future of the blockchain and bitcoin. He also noted the ongoing success of the digital currency.
Palychata published his observations in Quintessence magazine edited and printed by BNP Paribas. He introduced his readers to bitcoin and put forward two different scenarios for the further development of bitcoin and the blockchain.
Second scenario looks more promising to Palychata:
After expressing his hopes of the blockchain privatisation, BNP Paribas analyst noted that bitcoin is doing well so far.
BNP Paribas is one of the largest banks in the world. Until this year, it did not demonstrate any significant interest towards bitcoin. There were some rumours about the the blockchain application development during BNP Paribas hackathon organised by the bank in June, but later those rumours were not confirmed.
BNP Paribas competitors are examining uses and abuses of bitcoin technology. As CoinFox reported earlier, Citigroup allegedly set up three experimental systems based on the blockchain technology. They are still at a “pre-production” level and not deployed for the banking operations yet. The Citigroup’s own digital currency Citicoin has the same status.