PriceWaterhouseCoopers has just released a report on Bitcoin:

Bitcoin enables companies to skip the “middle man” of central financial institutions and their fees, not unlike how peer-to-peer file sharing of music enabled today’s consumers to deal with artists directly. Bitcoin is a bit like the 1999-era of Napster in that way, but this future scenario involves consumers sending currency directly to other users, or companies with goods and services to sell, all with minimal fees and no float time. Added to this proposition is that consumers who use a decentralized, peer-to-peer currency can be shielded from fluctuations caused by local government politics and their influence on central banks. In this potential scenario, Bitcoin has the potential to truly disrupt fiat currency models and force financial institutions to adapt their current technology, fee structures and work with government officials to understand regulation issues.

Read the full report as a PDF file here.