kaal:claim:3406323-014

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.

Source quote, verbatim

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.

From

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019), IV. Opportunities, p. 9
https://ssrn.com/abstract=3406323 · source PDF

Cite as

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

Holds when

payment systems relying entirely on cryptocurrencies

Classification

conditionsupport: arguedsystemic-risk

Related claims

extends kaal:claim:3396522-016 Because cryptocurrency transactions are possible without a banking relationship, stable cryptocurrencies can r...

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