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On the other hand, it's not like handling physical cash is free, really. Think about time spent counting, ensuring that there are no falsified notes, bringing
by jabot 9y ago
On the other hand, it's not like handling physical cash is free, really.
Think about time spent counting, ensuring that there are no falsified notes, bringing excess notes to the bank and making sure there is change, etc.
I think it is quite feasible to create an electronic payment system that has comparable overhead.
Consider that there are existing electronic payment systems, e.g. electronic cash in europe, that already work and are quite secure (being smartcard-based)
- fiatjaf 9y agoI didn't say that. I've just said that it is not possible to have an "open" web payments standard. Someone has to maintain it and link it to the real world money. The only way besides having centralized for-profit organizations maintaining the payments infrastructure is to use cryptocurrencies.