2013-07-31 BBVA Research (Spanish Bank) - A Chapter in Digital Currency Adoption

[kiko]

Surprisingly level-headed research report from Spanish bank BBVA.

General site:
http://www.bbvaresearch.com/KETD/ketd/ing/index.jsp

Direct PDF link: (4 Pages)
http://www.bbvaresearch.com/KETD/ketd/Descargas?pais=GLOB&canal=web&tipocontenido=BREV&idioma=ING&pdf=/fbin/mult/130731_EconomicWatchEEUU_Bitcoin_tcm348-398292.pdf&ididoc=en

Also of note, this (Spanish) what-is-bitcoin article they put up from back in April:
http://www.bbvacontuempresa.com/bitcoin

Could BBVA be the first global bank to take an interest in bitcoin? The Latin America focus would make sense here.

Edit: Republished in html form (minus charts) here:
http://www.fxstreet.com/analysis/economic-observatory/2013/08/02/

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[TraderTimm]

I know it is a long shot, but man I'd love to see a large bank just chuck the Euro and replace it with Bitcoin and a mix of other currencies. The repercussions would be epic, and one hell of a milestone.

[LiteCoinGuy]

Its pretty positive article.

Please note that this is the second largest bank in spain!

http://de.m.wikipedia.org/wiki/Banco_Bilbao_Vizcaya_Argentaria

[n8rwJeTt8TrrLKPa55eU]

Really nice, and significant.

Prisoner's Dilemma playing itself out.  Who will be the first major bank to truly embrace Bitcoin and get a lead on everyone else?  BBVA just became the #1 candidate.

The first 3/4 of the report they try to downplay it and bring up the usual negatives, but by the end they can't help but recognize the reality that's staring them in the face.  Within the Kubler-Ross model (denial, anger, depression, bargaining, acceptance) it looks like they're almost ready to move into the "acceptance" phase