Major financial institutions like some technical features of Bitcoin but are building their own versions that leave out the digital cash and built-in economics.
In the depths of the financial crisis in 2009, someone using the name Satoshi Nakamoto launched a digital currency called Bitcoin that he or she claimed could remove the need to rely on central or commercial banks. Six years later, financial institutions such as JP Morgan and Citigroup are taking on Nakamoto’s ideas – but ditching the parts of Bitcoin’s design intended to reduce their influence.
