Quote from: kryptqnick on November 29, 2018, 01:40:03 PM

Quote from: self love sisters on November 29, 2018, 01:16:45 PM

Can you believe that we are still living in a world where bank transactions dont go through because it is a weekend or public holiday, what is up with that? We have the choice to move to a peer to peer (P2P) platform that can make instant transfers any day of the week.

I made a coulple of SWIFT transfers myself, so I know what you are talking about. The transfer didn't proceed at all on weekends, so it took days to send money to a friend. The and fees were quite significant as well. For 400 EUR I had to pay like 10 EUR fee or something. Blockchain is definitely a lot better for such cases with the fee being less than a dollar and the transaction being confirmed in a matterof minutes. However, many people say that blockchain is not apt for big amounts of small transactions (a supermarket is a good example). Minutes in not the time people in the queue will wait. I think that transactions are mostly getting confirmed anyway, so there could be an intermediary who will take the risks of accepting transaction before it proceeded.

Thats very right, I have also made transfers using SWIFT it takes around 3-4 days to get money credited into beneficiaries account and that too is not cheap, transaction fee is quite high and banks holidays are your holidays, if banks are closed you need to wait for their working day. Blockchain technology fill this gap, transferring funds thr blockchain is fast, easy and cheap.