The biggest benefit touted of Blockchain based currencies is the ease and low cost of transaction. Both are anything but. Take cost for example. India's UPI sup

The biggest benefit touted of Blockchain based currencies is the ease and low cost of transaction. Both are anything but. Take cost for example. India's UPI supports 5B transactions per month which are _free_ to users at the cost of perhaps $10-20 million to the govt which subsidizes it. Compare that to the US restaurants (and gas pumps) which give you 3-5% discount if you use Cash. At some point a national payment rail makes sense though it offends my capitalistic sensibilities though currency violates that too. The Federal reserve charges $1.28 (one dollar and twenty eight cents) to move about $100 million dollars[1]. That is before volume discounts. Cost of money movement is extremely small because you are just sending a packet. Cross border was hard but was due to interchange between different currency systems but has gotten much cheaper too. I can send payment for less than 1% to most countries near instantaneously and this will only drop. [1] https://www.frbservices.org/resources/fees/wires-2022 https://www.frbservices.org/resources/fees/wires-2022