It's been a decade since Bitcoin emerged as a decentralized digital currency for the people. While it's no secret that Bitcoin and other cryptocurrrencies have some drawbacks, they're still a great alternative to Fiat when it comes to making payments without a centralized entity in charge of our funds.
With latest advancements such as DAGs, smart contracts, Layer-Two scaling solutions, Dandelion Protocol, Zero Knowledge Proofs, and more, it's becoming more evident that crypto will someday replace traditional payment processors like PayPal, Apple Pay, and Android Pay. Yet, Blockchain technology is still struggling with user adoption and regulatory compliance.
Nonetheless, do you believe that there's hope for Bitcoin to beat traditional payment processors or will those same payment processors adapt to the Blockchain in the future?
Bitcoin or another decentralized cryptocurrency cannot replace traditional payment systems. They will closely cooperate and develop together, complementing each other with their special capabilities. Moreover, most likely, the cryptocurrency will develop and transform further, since today it has a lot of shortcomings and is far from perfect. Traditional payment systems will not disappear anywhere, together with cryptocurrency they will provide us with additional opportunities.With latest advancements such as DAGs, smart contracts, Layer-Two scaling solutions, Dandelion Protocol, Zero Knowledge Proofs, and more, it's becoming more evident that crypto will someday replace traditional payment processors like PayPal, Apple Pay, and Android Pay. Yet, Blockchain technology is still struggling with user adoption and regulatory compliance.
Nonetheless, do you believe that there's hope for Bitcoin to beat traditional payment processors or will those same payment processors adapt to the Blockchain in the future?