A Deutsche Bank report claims that despite its initial intention to be a decentralised peer-to-peer system, the Bitcoin ecosystem now includes "a number of financial intermediaries". The report, which was published on Monday, says that while there are many different types of bitcoin, they all have one thing in common: They can only exist as an alternative currency if people trust each Additionally, the report questions the viability of Bitcoin in the event that it becomes much more widely used, saying "sceptics expect that distributed payment systems will not be able to compete with centralised transfer systems on cost, unless they concentrate processing in a few miners."
A Deutsche Bank report claims that despite its initial intention to be a decentralised peer-to-peer system, the Bitcoin ecosystem now includes "a number of financial intermediaries". These intermediaries include Bitcoin exchanges and wallet hosting services. Additionally, the report questions the viability of Bitcoin in the event that it becomes much more widely used, saying "sceptics expect that distributed payment systems will not be able to compete with centralised transfer systems on cost, unless they concentrate processing in a few miners."