Hi all,

I was just reading this article about LHV bank building an app using blockchain technology which "enables users to send and receive euros instantly and free of charge".

If banks start to do this then doesn't it mean that there is less of a reason for bitcoin?  I thought that one of the main reasons why bitcoin will take off in the future is that it reduces costs for people.

As an investor in bitcoin, is this kind of development worrying?


http://www.coindesk.com/lhv-bank-backs-wallet-app-built-on-bitcoins-blockchain/