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I'm not expecting the average person to adopt a crypto payments system any time soon. Currency is only one aspect. B2B will come first. There are already a lar

by arbol 5y ago

I'm not expecting the average person to adopt a crypto payments system any time soon. Currency is only one aspect. B2B will come first. There are already a large number of crypto projects partnering with existing businesses to address real problems. I don't see a minority ideology standing in the way of this.

lottin 5y ago
They have been trying to sell blockchain technology to businesses for a long time. Nothing has come out of it despite millions spent in r&d and marketing.
- ashtonkem 5y ago
  And a ton of money wasted on IBM consultants.
- chrisco255 5y ago
  Here's Visa announcing they'll be settling USDC transactions on the Ethereum blockchain: https://finance.yahoo.com/news/visa-settles-usdc-transaction-ethereum-090000667.html https://finance.yahoo.com/news/visa-settles-usdc-transaction... Here's various businesses running oracles for smart contracts including Deutsch Telecom: https://chain.link/ecosystem/data-providers https://chain.link/ecosystem/data-providers Here's Ernst & Young's take on the technology: https://www.ey.com/en_us/blockchain https://www.ey.com/en_us/blockchain
  - lottin 5y ago
    I can't find a specific example of a business that has used a blockchain to achieve something in any of these links.
    - chrisco255 5y ago
      Visa is a business and they used the Ethereum chain to settle a payment in the form of the USDC ERC20 token. Now, they're just getting started. But from my perspective, I've seen virtually every function that I enjoy from my bank replaced by smart contracts in the past year. And the only thing that's really holding me back from closing my bank account altogether is the legacy integrations that exist. And that will fade with time.
      - lottin 5y ago
        Sure, but they aren't using a blockchain themselves, they're simply letting their clients settle some transactions on the ethereum blockchain. It's not really an example of a business using blockchain technology to its advantage. If they had deployed a blockchain and used that to process transactions, that would be more convincing, but so far I don't think they've done that.
        chrisco255 5y ago
        No, they are literally using it, providing resources for it (in the case of Deutsch Telecom), and settling transactions on it. Why would you deploy your own blockchain when you can use a public blockchain like Ethereum and plug into the rich ecosystem that already exists?
        lottin 5y ago
        > No, they are literally using it They are not. They're offering a pre-paid card that users can top up with their crypto.com wallets. [1] The Crypto.com Visa Card is a prepaid card. Broadly speaking, prepaid cards are the same as debit cards. The difference is that debit cards are linked to your bank account, but prepaid cards need to be topped up. In our case, you can top up using bank account transfers, other credit/debit cards, or cryptocurrency. And Deutsch Telecom isn't using a blockchain either. They're selling data to a company that then puts the data on a blockchain. That's not using a blockchain. [1] https://crypto.com/cards https://crypto.com/cards
        chrisco255 5y ago
        Deutsch Telecom operates Chainlink nodes, which are a decentralized method of writing data to the chain. They are paid in LINK for providing this service. And Visa clearly said: that Anchorage will be its “digital asset settlement agent” and that it will “integrate [its] treasury systems with Anchorage.” “After further testing and additional conversations with clients, partners and members of the regulatory community, we hope to launch this capability for other partners in the year ahead,” Visa said in a blog post about the news. Read it from their official press release, a couple times: https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.17821.html https://usa.visa.com/about-visa/newsroom/press-releases.rele...

by arbol 5y ago

lottin 5y ago

They have been trying to sell blockchain technology to businesses for a long time. Nothing has come out of it despite millions spent in r&d and marketing.

ashtonkem 5y ago
And a ton of money wasted on IBM consultants.
chrisco255 5y ago
Here's Visa announcing they'll be settling USDC transactions on the Ethereum blockchain: https://finance.yahoo.com/news/visa-settles-usdc-transaction-ethereum-090000667.html https://finance.yahoo.com/news/visa-settles-usdc-transaction... Here's various businesses running oracles for smart contracts including Deutsch Telecom: https://chain.link/ecosystem/data-providers https://chain.link/ecosystem/data-providers Here's Ernst & Young's take on the technology: https://www.ey.com/en_us/blockchain https://www.ey.com/en_us/blockchain
- lottin 5y ago
  I can't find a specific example of a business that has used a blockchain to achieve something in any of these links.
  - chrisco255 5y ago
    Visa is a business and they used the Ethereum chain to settle a payment in the form of the USDC ERC20 token. Now, they're just getting started. But from my perspective, I've seen virtually every function that I enjoy from my bank replaced by smart contracts in the past year. And the only thing that's really holding me back from closing my bank account altogether is the legacy integrations that exist. And that will fade with time.
    - lottin 5y ago
      Sure, but they aren't using a blockchain themselves, they're simply letting their clients settle some transactions on the ethereum blockchain. It's not really an example of a business using blockchain technology to its advantage. If they had deployed a blockchain and used that to process transactions, that would be more convincing, but so far I don't think they've done that.
      - chrisco255 5y ago
        No, they are literally using it, providing resources for it (in the case of Deutsch Telecom), and settling transactions on it. Why would you deploy your own blockchain when you can use a public blockchain like Ethereum and plug into the rich ecosystem that already exists?
        lottin 5y ago
        > No, they are literally using it They are not. They're offering a pre-paid card that users can top up with their crypto.com wallets. [1] The Crypto.com Visa Card is a prepaid card. Broadly speaking, prepaid cards are the same as debit cards. The difference is that debit cards are linked to your bank account, but prepaid cards need to be topped up. In our case, you can top up using bank account transfers, other credit/debit cards, or cryptocurrency. And Deutsch Telecom isn't using a blockchain either. They're selling data to a company that then puts the data on a blockchain. That's not using a blockchain. [1] https://crypto.com/cards https://crypto.com/cards
        chrisco255 5y ago
        Deutsch Telecom operates Chainlink nodes, which are a decentralized method of writing data to the chain. They are paid in LINK for providing this service. And Visa clearly said: that Anchorage will be its “digital asset settlement agent” and that it will “integrate [its] treasury systems with Anchorage.” “After further testing and additional conversations with clients, partners and members of the regulatory community, we hope to launch this capability for other partners in the year ahead,” Visa said in a blog post about the news. Read it from their official press release, a couple times: https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.17821.html https://usa.visa.com/about-visa/newsroom/press-releases.rele...