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Do these systems have the potential to finally replace cash and thus undermine some of the advantages Bitcoin has?
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I would say most emphatically
no. There is a critical issue which these systems do not address namely the:
FICO score or lack thereof of the buyer! If it is 350 or so or if the buyer does not have a FICO score none of them will work and the only alternatives will be cash or Bitcoin. In the United States alone this is a huge market.