These hot takes always ignore the actual reason for fees on credit card transactions. It’s not because of the complexity or avarice of the payment system provid

These hot takes always ignore the actual reason for fees on credit card transactions. It’s not because of the complexity or avarice of the payment system providers, it’s because the card networks offer insurance and repudiation of false payments. Each layer of the payment network carries loss liability for different types of fraud in the system. Stablecoins like cash or other cash transfer schemes don’t offer any form of reputation of transactions for any reason. If you lose your money to theft, to a fraudulent merchant, whatever, the money is gone. This being said, the interchange structure -is- inefficient as there’s been a lot of middle men accumulated over the years. A simpler interchange could be achieved with much lower fees for the merchant and higher rewards for the consumer. Only a major processor like stripe to accomplish this but they are too absorbed with stable coin malarkey