FT: Bitcoin cannot replace the banks

an interesting opinion piece, very well detailed about banking and cryptocurrency, concisely reaches the author’s conclusion (and the headline) that Bitcoin can’t replace banks. About a two minute read.

Comment: yes, I read the article and appreciated the writing and points made, but I can’t help but think the author is avoiding an obvious lesson: the internet can’t replace newspapers, can it? So why so sure Bitcoin (aka magic internet money) can’t replace banks?