Bitcoin can be seen as the new emerging reserve currency for online transactions, where the online equivalent of banks will issue bitcoin-backed tokens to users while keeping their hoard of bitcoins in cold storage, with each individual being able to audit in real time the holdings of the intermediary, and with online verification and reputation systems able to verify that no inflation is taking place. This would allow an infinite number of transactions to be carried out online without having to pay the high transaction fees for on-chain transactions.
