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But they promised on their kitchen counter anyway?!?
I'm not sure who promised what, best kitchen I've ever heard is in Brussels. Best quality/price ratio. Those EU diplomats are all on coke.
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If you want to be censorship resistant, stick to decentralized blockchains (ethereum + bitcoin). There's still value in Tempo vs traditional payment rails - (much) lower fees, faster + 24/7 transactions.
sure there is value but it's just a some db with multiple hosters probably? are we going to be able to do basic things what other blockchains offer? probably no.
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> I don't see anyone in the real world using blockchains at all. Many companies are using stablecoins for cross border transactions, and for payouts in countries with volatile currencies. There's clear value for these use-cases. Not to mention lower fees and 24/7 availability.
What companies?
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It’s a hilarious definition of “fix” but the basic argument is that when you mandate stablecoins to hold treasuries and they start seeing actual adoption, you create demand/sink for a couple extra trillion dollars of treasury bonds. Eg if Australian locals suddenly switch transacting cocaine at scale in Tether instead of AUD, the US government can borrow more money by providing that collateral to Tether. Edit: Izzy K…
In this scenario, what happens when there’s a run on a stablecoin? The bonds are sold en masse, and the value of those bonds will be hit, driving up gov borrowing costs (plus they just lost a source of demand), meaning the stablecoin “bank” could be bankrupt, right? With stable coins you’re really trusting a private company to invest your money in a way that is robust to a drop in confidence. Isn’t this high risk? If…
But I guess we will find out in a 2027 Bessent presser announcing the Fed stepping in.
More serious answer: the bigger risk is trusting SV types to be content with a couple of percent in spread, and not starting to pull all kind of shenanigans to juice returns to a point where it becomes much harder to bail them out vs just taking back the treasuries.
US government solvency seems, as crazy as it sounds, less of an issue, as evidenced by the brief tantrums with absolutely no real effects beyond a couple of protesting headlines in the recent months. Where else are people around the world going to put their money? But as gifted as the current gov crew is at turning privilege into disaster, we're probably going to find out soon enough if there are any actual limits to that.
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Why would anyone even try to suggest that?
I know nothing about this technology/service but I do hope it would help avoiding the censorship from Mastercard/Visa.
Stripe is deeply vulnerable to pressure from Mastercard/Visa.
In this day and age, countries need not be beholden to the pile of duct tape that is the credit card system and its innumerate middle-men and inefficiencies.
This is a good thing.
The whole payment sector is so fucking idiotic. Why would Stripe need a L1? Partnered with paradigm? The company behind every crypto scam in the past 5 years? Who needs this? Who wants this? I just want to order a book from Amazon; why would there be a blockchain?
> 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 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-...
This is off-topic to their grand blockchain adventures, but I need to mention it: I would love for stripe to start paying appropriate VAT on transactions between their merchants and EU citizens, I've been on their ass about it for nearly a year now. I've reported multiple merchants to them which simply refused to provide an VAT invoice for any transactions. Legally, merchants outside EU are required to pay VAT on the…
You're trying to get Stripe to force merchants to conform to some arbitrary document format for an invoice that isn't even part of Stripe's transaction flow, based on a regex on emails for certain TLDs?? Is Stripe the world's paperwork policeman?
Maybe just don't order from merchants who won't supply you documents in the format you like, instead of trying to get Stripe to act as judge, jury, and executioner in the court of Stripe. Or talk to your government representatives and get them to lift these rules so you can do business like everyone else in the world.