As we increasingly operate via electronic and mobile banking, money has moved from being ‘a thing’ we hold, to numbers we move around. In such an environment, it is inevitable that new forms of currency will emerge to challenge the historic norms.

Cryptocurrencies, such as Bitcoin, take this a step further by using a model which reflects the underlying structure of the Internet and World Wide Web, namely a distributed model where the software and operating model becomes self-sustaining. So in such an environment, we believe it is more a matter of ‘when’ rather than ‘whether’ such models will impact our existing currency models.