[2016-09-10]Yet Another Bitcoin Impact Assessment Report by Santander

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The number of reports discussing Bitcoin’s impact on mainstream banking and financial sector is overwhelming. Adding to the list is yet another report focused on Brazil, published by Banco Santander.
The report titled “Brazil: Banks and Financial Services – To Bitcoin or Not to Bitcoin?”  is a result of last month’s meeting with Banco Santander, Mercado Bitcoin — the leading Latin American Bitcoin exchange and local investors. The meeting revolved around the potential long-term impact of Bitcoin on businesses dependent on the conventional financial system.
The Santander report lists Bitcoin and blockchain technology’s impact on 5 major segments. These segments include Acquirers and issuer banks, Card brands, Card suppliers, Cryptocurrency exchanges and Brazilian banks. It states that the banking and payments industry as a whole will have a mixed impact, depending on the focus verticals of the businesses.

http://www.newsbtc.com/2016/09/10/another-bitcoin-report-santander/

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Third party card issuers and payment solutions providers may find themselves at a slight disadvantage following Bitcoin adoption. Wallet-to-wallet Bitcoin transactions will eliminate the absolute need for POS terminals and even reduce the demand for credit and debit cards. However, the impact will be limited, resulting in a fall in profits at the worst.