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Stripe Launches L1 Blockchain: Tempo

tempo.xyz

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Re: Stripe Launches L1 Blockchain: Tempo

#171

Post by nisegami »

jchw wrote: post #148
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…

A lot of us are not really deep into the finance space. Maybe there's a good reason it's left unsaid, but the question I came away with after reading that page and this comment is, why are businesses finding crypto easier/faster/better? To me, it's not 100% clear exactly who Tempo is for and not for, and why blockchain is more suitable than traditional centralized database technology here. And it sounds like this sys…

In the case of Argentina, and similarly for my country, access to USD is fraught and often involves off-market transactions.

Re: Stripe Launches L1 Blockchain: Tempo

#174

Post by kristjansson »

agambrahma wrote: post #141

[I'm likely missing something, but] "EVM-compatible, built on Reth" => they're essentially building a private Ethereum fork with a fancy validator selection process. Couldn't they just get these benefits (predictable fees, fast settlement) by ... running a database between these financial institutions? If Stripe controls the validator set (even indirectly), then ... just a distributed database with extra steps, no?

Blockchains are foremost a social technology :)

Re: Stripe Launches L1 Blockchain: Tempo

#175

Post by criddell »

wmf wrote: post #99
abeppu wrote: post #44

So like 11 years ago, Stripe made investments into Stellar, which was supposed to be a payment network that would facilitate transactions into existing currencies. I think that hasn't really gone where it was hoped? https://www.irishtimes.com/business/technology/stripe-takes-...

Stellar was way too early.

It's still there though. Why not use it?

Re: Stripe Launches L1 Blockchain: Tempo

#177

Post by MarcelOlsz »

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…

>is providing banking services to customers in Latin America.

Checks crypto watch, ah, it's Latin America time again.

Re: Stripe Launches L1 Blockchain: Tempo

#178

Post by nickitolas »

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…

Speaking as an argentinian, every time I hear about someone using crypto in that way its to avoid taxes, which seems legally murky/gray (if not directly illegal, but not currently prosecuted) to me.

Re: Stripe Launches L1 Blockchain: Tempo

#179

Post by throwup238 »

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…

As an extreme skeptic of crypto in general, the uses for stablecoins seem obvious as long as they’re transparently backed or used only for short term transactions before going back into fiat.

Even just paying a foreign contractor is a pain in the ass sometimes so if a bunch of banks and financial service providers around the world manage to make international transfer easier via the coins, that’s great. Not everyone cares about the inconvenience of KYC or reversibility of transactions sent internationally. These usecases feel more like shortcutting the complexity of transactions across state lines rather than the regulations we’ve learned about the hard way in a hundred years. Obstacles rather than safeguards.

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