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No it's not. GNU Taler doesn't use a blockchain, as a blockchain cannot implement digital cash: in a blockchain, transactions are necessarily centralized — on a distributed ledger, but still account-based —, so they are effectively equivalent to wire transfer, i.e., just accounting entries: they cannot take place between two offline parties like you can do with actual cash. Also, blockchain-based digital "money" (quo…
[flagged]
No it's not. GNU Taler doesn't use a blockchain, as a blockchain cannot implement digital cash: in a blockchain, transactions are necessarily centralized — on a distributed ledger, but still account-based —, so they are effectively equivalent to wire transfer, i.e., just accounting entries: they cannot take place between two offline parties like you can do with actual cash. Also, blockchain-based digital "money" (quo…
I guess Satoshi would disagree with the notion since the initial promise of Bitcoin was that it was in fact "electronic cash".
My question is: How does the average Jane and Joe benefits compared to Debit and Credit Cards? Privacy, they do not care. Being anonymous, they do not care. So a dead initiative?
My question is: How does the average Jane and Joe benefits compared to Debit and Credit Cards? Privacy, they do not care. Being anonymous, they do not care. So a dead initiative?
I know at least one person employed in banking who thinks it’s insane that Visa and Mastercard get a 2% cut of any transaction.
My question is: How does the average Jane and Joe benefits compared to Debit and Credit Cards? Privacy, they do not care. Being anonymous, they do not care. So a dead initiative?
...and, as quoted by sunshine_reggae, lower transaction costs.
My question is: How does the average Jane and Joe benefits compared to Debit and Credit Cards? Privacy, they do not care. Being anonymous, they do not care. So a dead initiative?
Edit: yes I am familiar with the various 'sending money to people' systems in Europe, but they don't rely on a debit card for the most part, rather, your bank account
Earlier quoted context omitted.
No it's not. GNU Taler doesn't use a blockchain, as a blockchain cannot implement digital cash: in a blockchain, transactions are necessarily centralized — on a distributed ledger, but still account-based —, so they are effectively equivalent to wire transfer, i.e., just accounting entries: they cannot take place between two offline parties like you can do with actual cash. Also, blockchain-based digital "money" (quo…
> as a blockchain cannot implement digital cash I guess Satoshi would disagree with the notion since the initial promise of Bitcoin was that it was in fact "electronic cash".
> "Bitcoin: A Peer-to-Peer Electronic Cash System"
1. It's not cash as so many properties of cash are not met. It is technically a simple writing game, just like wire transfer between accounts at a same bank.
2. It is not p2p. The underlying protocol that allows to maintain the distributed ledger is; but transactions, since they're account-based and only a writing game (contrary to actual cash transactions which are bearer-based), are centralized on that distributed p2p-maintained ledger. So the "cash system" (which is not that either) is not p2p.
My question is: How does the average Jane and Joe benefits compared to Debit and Credit Cards? Privacy, they do not care. Being anonymous, they do not care. So a dead initiative?
If it’s equally convenient and cheaper, people could easily use this. It may even be their bank who sets it up for them when they pay for something. I know at least one person employed in banking who thinks it’s insane that Visa and Mastercard get a 2% cut of any transaction.
They don't. In the EU, the intercharge fees is capped at 0.3%. Even in the US they only keep a fraction of the fees, the rest goes to card issuers.