With Bitcoin at its helm, cryptocurrency was born with lofty aspirations. Through the revolutionary blockchain technology that powered it, the digital coin was meant to even the financial playing field, eliminate intermediaries such as banks, and maybe even replace fiat altogether. Cryptocurrency was the libertarian schoolboy’s fantasy-come-true. While no one can blame enthusiasts for their high ambitions, the truth is that neither banks nor fiat currencies have gone away, and crypto doesn’t remotely pose a threat to either. What is happening, though, is that traditional capital markets are beginning to incorporate ... (full story)