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But then the escrow service will charge a fee and will also have a degree of gatekeeping because they don't want scammers. So we're back to where we started.
by toomanybeersies 9y ago
But then the escrow service will charge a fee and will also have a degree of gatekeeping because they don't want scammers.
So we're back to where we started.
- ghthor 9y agoNo were not, because very few transactions require an escrow. I do 90% of my in person transactions without an escrow using cash. These transactions can be replaced with crypto for a very very small fee, negligible compared to the card processing fee. The essense here is that currently a card transaction is like an escrow transaction, but most tranactions don't require that level of security, notably in person transactions. And thats where cryto is a next level tech, it can func in the same way as current card transactions and it can also operate at almost the transaction cost of cash.