Payment rail bifurcation developing
Over the past year the Stablecoin landscape has become a crowded field of fierce competitors: Solana (SOL), Ethereum (ETH), TRON (TRX), XRP Ledger (XRP), Stellar (XLM), Polygon (MATIC), and BNB Chain (BNB). All vying to become THE payment system for the next 100-years. Then you have State Sponsored efforts known as CBDCs with their mostly hidden unannounced goals of tracking and control!
Currently, there are 3 countries that have CBDC's deployed. There are 49 that are in the pilot stage, there are 20 with theirs under development and 2 have canceled their CBDC's. All these stats were taken from www.atlanticcouncil.org/cbdctracker/. If there are factual issues, take it up with them, please. All of these efforts between Stablecoin and CBDC are creating a payment rail bifurcation. Will the decisions be left to the consumer or Governments deem them too important and will exclude the consumer and make the decision on their behalf?
Each offering has its own Pro's and Con's. That hair has already been split many times, no need to do it again!
Add in a mix of two credit card juggernauts for fun, as they charge 2-3% of each transaction.
I have no faith in the US Congress to pass legislation that would benefit consumers.
My focus is on payment rails for Businesses is the engine that drives commerce,
(locally, nationally and globally.)
I am seeing more and more vendor signs stating no cash, card only! I ask if they accept Crypto and mostly get 1000 mile stares! I believe an opportunity is being lost here! Stablecoin's are missing a huge opportunity to work with vendors of all sizes that are struggling with high credit card fee's. Think about how disproportionately impact small businesses more than larger competitors. Think about the business mix here in Amerika, that mix is roughly 60/40 (60% small firms and 40% large firms). How disproportionately are fee's impacting bottom lines? Enter in Stablecoin's, super fast payments and very low fee's.
Not only would a small % shift in the payment rail environment bring competitiveness back to the two credit card juggernauts but you could expect to see fee's come down as well!
Summary
I am a firm believer that Stablecoin's will be the relief small business owners. Please Pub0x community help spread the word when you see signs, saying no cash. Ask if they accept Crypto. Now is the time we have been given to shout from the mountain tops the benefits of Crypto, especially Stablecoin's.
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