- Joined
- Dec 1, 2020
- Messages
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I kinda see what you are saying and kinda am a little confusedThis is already well in motion via Ripple and other blockchain providers (and available for use). They aren’t delivering XRP but actual fiat currency.
Regardless, the issue is “all underlying” accounts are held still held at banks.
Even a small fin tech / 3rd party payments provider who may have “digital wallets,” will still keep underlying balances at a bank.
So if we aren’t holding cash at banks, where are we? Government accounts?
Why would a payment provider need to deal with a bank? You can buy things online straight from a digital wallet.
Also shops can be built with a blockchain backbone. This is why so many of the chains give out “grants” for proposals to build applications on their chain
If someone built an Amazon clone on a a blockchain, or collection of blockchains, where do banks need to be involved unless someone wants to covert to traditional Fiat