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Stripe Launches L1 Blockchain: Tempo

tempo.xyz

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Re: Stripe Launches L1 Blockchain: Tempo

#101

Post by wmf »

Zanfa wrote: post #77
it_citizen wrote: post #37

Earlier quoted context omitted.

Second line of the page: > Stablecoins enable instant, borderless, programmable transactions, but current blockchain infrastructure isn’t designed for them: existing systems are either fully general or trading-focused. Tempo is a blockchain designed and built for real-world payments. What is different in the details, no idea.

Once you take into account AML and KYC laws, which will obviously be enforced should this gain any sort of adoption. What will be different in practice?

The US is working on a law that may exempt crypto from AML/KYC because "innovation". If that passes there will be a rush to blockchain everything.

Re: Stripe Launches L1 Blockchain: Tempo

#102

Post by wmf »

nasmorn wrote: post #57
pc wrote: post #46

There are lots of crypto skeptics on HN (and we ourselves were disappointed with crypto's payments utility for much of the past decade), so it might be interesting to share what changed our mind over the past couple of years: we started to notice a lot of real-world businesses finding utility in stablecoins. For example, Bridge (a stablecoin orchestration platform that Stripe acquired) is used by SpaceX for managing…

Because they are legally barred to doing the same thing in USD. Which is exactly what’s going to happen to this once enough people actually use it.

The situation has changed. The US is now leaning pro-crypto and they're also for sale.

Re: Stripe Launches L1 Blockchain: Tempo

#103

Post by wmf »

kemotep wrote: post #98
FergusArgyll wrote: post #11

Earlier quoted context omitted.

> Why create a new blockchain? Stablecoins enable instant, borderless, programmable transactions, but current blockchain infrastructure isn’t designed for them: existing systems are either fully general or trading-focused. Tempo is a blockchain designed and built for real-world payments. - First line in TFA

So if I want to make a payment with Tempo and currently only have US Dollars, or accept payments in Tempo and cash out in USD, Stripe will facilitate that?

They have to if they want Tempo to succeed.

Re: Stripe Launches L1 Blockchain: Tempo

#104

Post by [deleted] »

nasmorn wrote: post #57
pc wrote: post #46

There are lots of crypto skeptics on HN (and we ourselves were disappointed with crypto's payments utility for much of the past decade), so it might be interesting to share what changed our mind over the past couple of years: we started to notice a lot of real-world businesses finding utility in stablecoins. For example, Bridge (a stablecoin orchestration platform that Stripe acquired) is used by SpaceX for managing…

Because they are legally barred to doing the same thing in USD. Which is exactly what’s going to happen to this once enough people actually use it.

[deleted]

Re: Stripe Launches L1 Blockchain: Tempo

#105

Post by dvt »

> A diverse group of independent entities, including some of Tempo’s design partners, will run validator nodes initially before we transition to a permissionless model.

So not decentralized at all. The only reason to not open source validators and allow the public to run their own is to make insiders rich. Another crypto grift that will mint a few millionaires before either being forgotten or merely being used as a speculative instrument.

Re: Stripe Launches L1 Blockchain: Tempo

#107

Post by antirez »

pc wrote: post #46

There are lots of crypto skeptics on HN (and we ourselves were disappointed with crypto's payments utility for much of the past decade), so it might be interesting to share what changed our mind over the past couple of years: we started to notice a lot of real-world businesses finding utility in stablecoins. For example, Bridge (a stablecoin orchestration platform that Stripe acquired) is used by SpaceX for managing…

The problem with all that, is the fact it remains possible to create a protocol with N big institutions (governments and large tech companies, big non profit organizations and so forth) signing every block, to create a collaborative system that is perfectly suited for the same task. The system can make progresses as long a given fractions of the participants is available and so forth, there are a number of well known protocols to do so. This maintains many benefits of the blockchain and lacks many issues (fast, simple, near zero cost, controllable to a given extent -- no takeover possible, ...).

Re: Stripe Launches L1 Blockchain: Tempo

#109

Post by gritzko »

jhawk28 wrote: post #64
asdev wrote: post #17

I'm trying to figure out how this is decentralized? "A diverse group of entities" will run validator nodes. This sounds like it's just a Solana clone then.

It is Reth based. Solana is a completely different implementation.

That is a private Ethereum instance, right?

Re: Stripe Launches L1 Blockchain: Tempo

#110

Post by Onavo »

wmf wrote: post #102
nasmorn wrote: post #57

Earlier quoted context omitted.

Because they are legally barred to doing the same thing in USD. Which is exactly what’s going to happen to this once enough people actually use it.

The situation has changed. The US is now leaning pro-crypto and they're also for sale.

And yet USDC has a sanctions mechanisms built in.
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