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Not really. Ethereum payments sell on being trustless, which means you have to upfront the money. Mastercard deals in credit. You'll never get the benefits of a
by JustAnotherPat 9y ago
Not really. Ethereum payments sell on being trustless, which means you have to upfront the money. Mastercard deals in credit. You'll never get the benefits of a credit based system in ethereum. This is why all ethereum dapps stink so far too. People are used to exchanging trust for goods and perks.
- tehlike 9y agomastercard deals in credit? banks deals in credit, mastercard is a payment network.
- campbelltown 9y agoThis is true. But mastercard facilitates the liquidation of this credit via their payment systems, which people will continue to use. Initially people will likely use ether as a store of value/hedge against the traditional economy. Also dapp fuel, as we all hope. Furthermore, take a look at coinbase as an example of a company profiting heavily on this new payment system. Mastercard has an opportunity to capture some of the new value being created in the ecosystem. They don't have to fall off the map if we all start using ether. If they do, they failed to innovate. I suspect their execs understand this.
- dmcy22 9y agoCoinbase makes a percentage on each purchase/sale of a cryptocurrency, much like how a bank makes money when we buy forex. As far as I know, they don't take a fee for transfers of cryptocurrencies, which is more along the lines of what Mastercard does.