Reply to What's the Latest on Crypto?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The only actual use case I have heard of that makes sense is for transactions that involve no trust issues, such that you do not need all the bells and whistles of our current payment processing system. Eg - you could use crypto instead of your debit/credit card to buy coffee because you are getting the coffee then and there and won’t ever need to do a charge back. The idea is that crypto in that scenario could be cheaper for vendors and consumers compared to the high expense of card processing fees.

But AFAIK, the crypto “rails” are not developed enough to make that scenario into a reality because it takes so much longer to process a crypto transaction on the blockchain vs the Visa/MC system.

But yes, if crypto and blockchain can break the Visa/MC stranglehold on payment processing and lower the fees there could be a use case. 
[/quote]

But as a vendor, I don’t want to accept payments that could halve between when coffee was poured and when it was drank![/quote]

Right.  For a transaction to be successful, buyers must be sure they are not giving up a winning lottery ticket and sellers must be sure they are not receiving toilet paper.  Otherwise, commerce will grind to a halt.[/quote]

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