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Not sure if this comment is talking about cryptocurrencies in general, or specifically smart contracts. Assuming it’s the latter, check out Nano. Extremely fast
by overview 5y ago
Not sure if this comment is talking about cryptocurrencies in general, or specifically smart contracts. Assuming it’s the latter, check out Nano. Extremely fast transaction times (<0.5s) and zero fees. One use-case is for businesses to use it as a form of payment, thereby eliminating fees otherwise incurred with Visa, Mastercard etc.
If your comment was in regards to smart contracts, I think Escrow is a good use-case.
- whimsicalism 5y agoThe latter is smart contracts.
- latortuga 5y agoApologies if this is obvious and I'm honestly not trying to be flippant but can you pay taxes with Nano? What incentive do I have as a business owner to accept a volatile currency that may get all my revenue hacked without recourse?
- mustyoshi 5y agoMost businesses accept crypto through a payment processor. It shouldn't be much different than accepting credit cards or apple/google pay. I believe Bitpay and Square are some of the largest. Edit: what I mean is the customer can pay in whatever, and you get the USD equivalent.
- preseinger 5y agoAlmost zero businesses accept crypto as payment. And if and when that changes significantly the relevant government will put a stop to it quickly. Currencies are not some abstract thing which can be invented and utilized ad hoc. They are the exclusive right of sovereign states as they are the mechanism by which those states express economic power on the world stage.