This bitcoin alternative is a threat to Wall Street

Peer-to-peer loans imperil banks, and cryptocurrencies may finish the job

SAN FRANCISCO (MarketWatch) — Wall Street’s greatest threat isn’t from regulation or another meltdown. As we’ve seen over the past few years, governments and central banks will enable and protect the status quo at any cost.

No, the threat isn’t from traditional sources — it’s from technology. So-called cryptocurrencies, including the best known one, bitcoin, will eventually dislodge the power banks, brokerages and other financial institutions have over the system. Digital currencies circumvent the fees and roadblocks to access that come with traditional financial services.

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