Stablecoins are killing payment systems - page 2.

Poker Player

legendary

Activity: 1372

Merit: 2013

You have to see who wrote this article: a stablecoin company. In other words, it can be biased but it's well documented.

It is surprising and hard to believe that:

Quote from: bitmover on December 13, 2023, 06:14:10 PM

However, I don't see their adoption growing that fast in the past years. Credit cards are still the number one option for me when paying something with fiat currencies.

You live in Brazil, don't you? Do you believe the quote I posted, which is based on a Mastercard study?

joniboini

legendary

Activity: 2170

Merit: 1789

When people say payment systems, what comes to my mind is a service like BTCpayserver or something similar. If that's what is referred to here, I'd argue that they will likely adopt and accept stablecoin as a form of payment. I doubt businesses would ditch payment systems and build their own payment processor just because stablecoin makes it easier for customers to ditch cash.

In my area, digital payment has definitely become the norm, although it brings another form of inconvenience when the infrastructure doesn't fully support them. Slow internet access, poor back-end code that makes payment fail to be processed, etc. It will definitely get ironed out if stablecoin or a similar form of payment becomes popular.

dansus021

copper member

Activity: 1988

Merit: 905

Part of AOBT - English Translator to Indonesia

To be honest, stablecoin is very easy to use and has cheap fees if you pay one person to another person "worldwide" it only costs you a network gas fee, and I always said maybe the adoption of crypto can start from accepting stablecoin in some merchant.

But what I am scared about stablecoin is a lot including de-pegged, the crazy amount of money that they mint, and the conspiracy theory too. Grin

But yeah I think this become one positive news.

www.Gambler.Casino

newbie

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No wonder. Stablecoins are very convenient to use in almost any country!

bitmover

legendary

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Non-custodial BTC Wallet

Quote from: zasad@ on December 13, 2023, 04:14:24 PM

At this rate, in 5 years the whole world will be using stablecoins instead of payment systems.

I think stable coins are amazing for people who live in developing countries, where fiat is much worse than usd or euro.

as you mentioned they are making "significantly easier for people and businesses to move, store and own " usd around the world.

However, I don't see their adoption growing that fast in the past years. Credit cards are still the number one option for me when paying something with fiat currencies.

zasad@

legendary

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Merit: 4270

https://www.circle.com/executiveinsights/latam-fintech-companies-embrace-digital-finance
"Stablecoins and tokenized data on open blockchains are unleashing a new wave of global commerce, making it significantly easier for people and businesses to move, store and own value locally and around the world.
Last year(2022), global stablecoin settlement exceeded $7 trillion compared to $14 trillion settled at Visa and Mastercard.
Around the world, 1.7 billion people are underbanked, yet two-thirds of these people own a smartphone.4 Much as the original internet democratized access to information, public blockchains can turn these internet connected devices into compliant endpoints for both traditional finance and innovative new financial services that are completely disrupting traditional process and bureaucracy. "

At this rate, in 5 years the whole world will be using stablecoins instead of payment systems.

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