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?
Not taking sides so I think both bitcoin beating traditional payment processors and payment processors adapt blockchain technology has the potential of taking their places in the future. If people behind blockchain will make a move to trigger or enlighten people about bitcoin the massive adoption of using blockchain will happen and replacing traditional payment processors will be possible, if and only if a massive adoption will occur, as massive as fiat's widespread adoption and usage. Meanwhile, talking about payment processors adapt to the blockchain in the future is also depends on the people behind payment processors if they will let being traditional put them into bankruptcy.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?