Centralised payments is a massive problem, that you aren't aware of unless you're a merchant. Merchants end up subsidising the 2-3% cash back deals peddled by the Visa/AmEx of the world. They have little negotiating power against entrenched monopolies, just look up the AmEx case recently ruled on by the supreme court, or the million other online complaints of merchants unable to reduce the cost of accepting payments.
PayPals, Squares, Braintrees of the world routinely blacklist legitimate merchants, because an error in their system might just be a blip on their operations, while it bankrupts small businesses reliant on cash flow.
The more recent trend of banning businesses for appeasement of the social media lynchmobs is yet another reason for decentralisation.
We need a payments solution that is fair, reliable and free of censorship for merchants to really feel safe in a world increasingly moving online. If such a decentralised system removes the 5% milked by middlemen who add little value, and lowers prices of goods for the end user, while putting more money into merchants' accounts, I'd call it a massive win for everyone.
Bitcoin is only the first iteration, a viable proof of concept of you will. In a few years, you'll have every feature that Visa provides, including protections for the end user, without a Central monopoly keeping all the wealth actually created by merchants and consumers
PayPals, Squares, Braintrees of the world routinely blacklist legitimate merchants, because an error in their system might just be a blip on their operations, while it bankrupts small businesses reliant on cash flow.
The more recent trend of banning businesses for appeasement of the social media lynchmobs is yet another reason for decentralisation.
We need a payments solution that is fair, reliable and free of censorship for merchants to really feel safe in a world increasingly moving online. If such a decentralised system removes the 5% milked by middlemen who add little value, and lowers prices of goods for the end user, while putting more money into merchants' accounts, I'd call it a massive win for everyone.
Bitcoin is only the first iteration, a viable proof of concept of you will. In a few years, you'll have every feature that Visa provides, including protections for the end user, without a Central monopoly keeping all the wealth actually created by merchants and consumers