Access your go-to credit and debit card anywhere. All from your wrist and without your wallet.
Use the Fitbit app to add your credit or debit card to Fitbit Ionic. Then, use your watch to complete purchases worldwide—at any store that accepts wallet-free payments.With Fitbit Pay, all purchases are covered by your bank’s fraud protection, so you can shop without worry. Plus, Fitbit uses industry-standard tokenization to help keep each transaction private.
Fitbit Pay works with major credit and debit cards from top banks and card issuers around the world. See the Banks that are supporting Fitbit Pay, here : https://www.fitbit.com/fitbit-pay/banks
Ok, now that we are done showcasing their product, let's compare that to Bitcoin.
~ Fitbit Pay - Require participation of Banks to work. || Bitcoin - No Bank or Financial intermediary needed. P2P payments.
~ Fitbit Pay - Centralized Network || Bitcoin - Decentralized Network
~ Fitbit Pay - Require a single device to work || Bitcoin - Can be used with any device with internet access.
~ Fitbit Pay - Proprietary code || Bitcoin - Open Source
~ Fitbit Pay - Centralized Authority || Bitcoin - Public/Community based Authority
~ Fitbit Pay - Payment restrictions || Bitcoin - No payment restrictions.
What else can you add to the list of disadvantages that this so-called innovation are bringing to the financial scene?