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Payment systems like Central Bank Digital Currencies, FedNow, India's UPI, or ISO20022 won't be able to compete with the broad and deep benefits offered by publ
by spir 3y ago
Payment systems like Central Bank Digital Currencies, FedNow, India's UPI, or ISO20022 won't be able to compete with the broad and deep benefits offered by public blockchains.
For example, using Ethereum L2s or other public chains, anybody in the world with a phone will be able to access American T-Bills and equities, lending products, and much more.
Public chains are a better foundation for a global free market economy, and that includes but is not limited to payments.
- smoldesu 3y agoI think they already lost. I've been following cryptocurrency since 2014 and it feels no more widely-accepted today than it was a decade ago. If anything, people realized that there's no regulatory body and started the process of exploiting that en-masse. Now you don't know which public chain or L2 network to trust, since half of them rely on $MONEY_CORP and their proprietary bridge software. The crypto dream is dead. If you didn't sell out at the peak of the bubble a couple years ago, I do feel sorry for you.