"A big part of the appeal of many cryptocurrencies to their supporters is that they are decentralized rather than tied to a central bank like the US Federal Reserve. Records of transactions are kept on a digital ledger.

But because every single transaction is added to the digital ledger, the report said using a cryptocurrency like bitcoin for retail transactions around the world would quickly swell the ledger beyond the capacity of computer servers to store it. Supercomputers would be needed to keep up with verifying incoming payments, and the huge amounts of data being exchanged between users would bring the internet to its knees."

Bitcoin could 'bring the internet to a halt,' banking group warns