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I agree, but one has to consider that in this example, since Bitcoin acceptance in businesses isn't that widespread, the receiving side would still need a gatew
by fb03 9y ago
I agree, but one has to consider that in this example, since Bitcoin acceptance in businesses isn't that widespread, the receiving side would still need a gateway to convert that money back into fiat currency, and would also incur some sort of fee.
So essentially in these use cases you are just offsetting the chain of custody a few steps later.
- speedplane 9y agoYou're removing a huge link in the chain of custody, on that is likely the most fraught with fraud and security: the cross-border transaction part. It does not solve the problem all together, but it makes moving large sums around far easier and faster.