Centralized fiat payment systems require consumers to hold an existing banking relationship, while holding and storing cryptocurrencies does not, which gives decentralized payment systems comparative advantages in orders of magnitude.
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Centralized fiat payment systems and platforms typically require some form of an existing banking relationship in order for consumers to utilize their services. Holding and storing cryptocurrencies does not require a banking relationship.
Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323
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payment systems relying entirely on cryptocurrencies
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conditionsupport: arguedsystemic-risk
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extendskaal:claim:3396522-016 Because cryptocurrency transactions are possible without a banking relationship, stable cryptocurrencies can r...
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