Bitcoin was invented to disrupt existing monetary systems that many felt were too expensive and exclusionary. With this in mind, it was given a much broader value proposition than a deflationary issuance policy and hard cap of 21 million units. Through the novel use of blockchain technology, it also allows anyone to send money to a counterpart around the world in a few minutes for fractions of a dollar.
This functionality placed incumbent payment platforms such as card networks and interbank messaging systems directly in bitcoin’s crosshairs. While some firms dismissed these concerns, others saw the potential and looked for ways to derive value for their partners and shareholders.
To investigate this issue further, we recently spoke with the two