Re:IBM has cut its blockchain team down to almost nothing – ...
by honest_guy on Wednesday February 03, 2021 @10:17AM
(#26014353)
> Does anyone have any specific examples where blockchain would be a better solution?
Currency, payment processing and banking are definitely the primary use cases - which is nothing short of revolutionary, in my opinion. In less stable/poorer societies, access to banking, trustless payments, and an immutable ledger are immensely valuable.
Even here in the west, I would kill for an alternative to PayPal for international payments. I was recently forced to receive payment via PayPal. Between their 'generous' exchange rates and fees, I lost out on hundreds of dollars. Shortly after, they locked my funds for 25 days while they reviewed my account. I had zero recourse and just had to wait them out. The same transaction on Cardano would've cost 7c plus the cost of exchanging it back to fiat.
Currency, payment processing and banking are definitely the primary use cases - which is nothing short of revolutionary, in my opinion. In less stable/poorer societies, access to banking, trustless payments, and an immutable ledger are immensely valuable.
Even here in the west, I would kill for an alternative to PayPal for international payments. I was recently forced to receive payment via PayPal. Between their 'generous' exchange rates and fees, I lost out on hundreds of dollars. Shortly after, they locked my funds for 25 days while they reviewed my account. I had zero recourse and just had to wait them out. The same transaction on Cardano would've cost 7c plus the cost of exchanging it back to fiat.