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> So what is the point of crypto again other than giving Stripe (and similar centralized providers) a needless cut? Access to BUSD, USDC, (shudder) USDT, DAI,
by ignoramous 4y ago
> So what is the point of crypto again other than giving Stripe (and similar centralized providers) a needless cut?
Access to BUSD, USDC, (shudder) USDT, DAI, CUSD for folks across the globe is a good enough reason [0] (right now, the Stripe on-ramp is US-only, but that needn't be the case)? Stripe did bootstrap an alt global payments network in Stellar.org, but that hasn't worked as expected, it'd seem? Stripe is wise to participate in the stable-coin business, which is a way better bet.
MobileCoin, which is embed in every Signal installation, also has Stellar-like features but it isn't mainstream, just yet. Meta's Diem / Libre had similar grandoise visions for an alt payments network given its very global, commerce-hungry Instagram and WhatsApp userbases, but for some reason, they never got the legal side of things over the line.
[0] Ex: https://news.ycombinator.com/item?id=28770875 https://news.ycombinator.com/item?id=28770875
- beckingz 4y agoKnow Your Customer means that it won't work at scale because the government will shut it down.
- ignoramous 4y agoI don't see any reason why global payments with stable coins and KYC are at odds. This is a long game. I can see why the governments may resist this, but I suspect not all countries would disallow stable coin payouts and payments.