Ex-Citigroup CEO Vikram Pandit: Digital Currencies are Spawning Innovation
http://www.coindesk.com/...es-spawning-innovation/
Speaking in an interview with Bloomberg TV, Pandit said he was impressed with bitcoin wallet and payment processor Coinbase after meeting with its representatives last week. He used the company as an example of a successful digital currency business that could impact financial services beyond bitcoin
“It’s a wallet for bitcoin, but could be a wallet for ‘bityen’. It could be ‘bitdollar’, it could be ‘biteuro’ – doesn’t matter,” said Pandit. “What’s the beauty of this particular company? They can transfer money anywhere around the world at zero cost, freely. So it is a payment system, where this payment system is cost-free versus other payment systems, which are costly.”
It should be noted that most of the advantages outlined by Pandit are not exclusive to Coinbase. They are a feature of bitcoin itself, hence they are available to anyone using the bitcoin network.
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