Murtaza Hussain
@mazmhussain
One of the ways the traditional finance keeps front running crypto is by continuing to innovate on their own part. The idea of being able to pay someone as easily as sending a text message is one of the most alluring parts of the crypto story but you no longer need crypto to do that. You can pay someone just as easily with Zelle or Venmo and if you screw it up by accident, get locked out, or are hacked there’s an institution there to help you. That naturally sounds better to most people and it also allows you to transact with a stable U.S. dollar as opposed to a wildly fluctuating cryptocurrency. The only thing they can’t really front run is Bitcoin since it has some monetary characteristics that make it unique thanks to the Proof of Work. But otherwise I expect fintech to continue advancing and building all the promised benefits of crypto into their existing systems. I expect a bank-based payment platform divorced from phone numbers in the way that Signal no longer uses phone numbers to emerge soon.
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Thumbs Up
@thumbsup.eth
Internationally though, there is nothing even close to sending a stablecoin and cashing out via a low cost CEX/off-ramp. And once more businesses around the world accept stablecoins, meaning people don’t need to off-ramp, the real fun begins. Imagine sending in seconds, for pennies, stable-value currency, anywhere in the world. And the receiver can just start spending it immediately. I see no better use case.
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Derek
@badadvicehq
In the end, they both compliment each other and I don't see that ending, at least not anytime soon. Also, personally I find crypto to be fast and way more convenient than traditional finance. But like you said, they innovate so we might soon get same convenience and speed from traditional finance
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Icetoad 🎩 🍕 🎶 🐈 💚
@icetoad.eth
We already have that here in Canada
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JC
@jonathancolton
JP Morgan Chase may be the first, they've had a stablecoin since 2019. But big institutions move slowly.
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