I think in the short term we are seeing businesses beginning to accept crypto tokens as payments (XRP Solana) but these blockchain tokens arnt meant to be used as currency per se.
What they are doing Long term is shifting the software base layer of the global financial system to work on blockchain. The current SWIFT banking system uses antiquated technology, takes your bank 3-5 business days to transfer and confirm large sums of money, think of the SWIFT banking system as paying with a Check.
Now with the use of blockchain technology, using tokens to process the transactions (right now we use Credit Card companies that charge companies ridiculous fee for this my YMCA alone pays $19,000 in transaction fees per year), and stable coins as the currency. The new blockchain tech allows for Transactions to take seconds to confirm and cost almost nothing to perform.
So when the base layer technology for global banking transaction officially switches to blockchain technologies like XRP, XLM it will remove the need for credit card processing companies like VISA. Transactions take seconds and cost almost nothing which enables employers to pay their employees in real time. Think about it, we get paid biweekly because of how expensive it costs employers to pay their employees. With blockchain we will get paid in real time, getting a paycheck at the end of each day because it no longer costs companies enormous fees to process banking transactions.
Sorry all that to say, crypto tokens can be used as currencies but really they are the token used by the blockchain to process the transaction. And then you can transact with Stable Coins that are pegged to a fiat dollar so that they are not volatile in purchasing power.
1 to 1 ratio
/ Connor Shanta
npub1cw…td8a9
2025-03-24 14:43:12 UTC
Author Public Key
npub1cwfy2n3u9fyjmd54rjwvhmgs8m6yls25f5uslvhw2j8x9drmp8eqltd8a9Published at
2025-03-24 14:43:12 UTCEvent JSON
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"content": "I think in the short term we are seeing businesses beginning to accept crypto tokens as payments (XRP Solana) but these blockchain tokens arnt meant to be used as currency per se.\n\nWhat they are doing Long term is shifting the software base layer of the global financial system to work on blockchain. The current SWIFT banking system uses antiquated technology, takes your bank 3-5 business days to transfer and confirm large sums of money, think of the SWIFT banking system as paying with a Check. \n\nNow with the use of blockchain technology, using tokens to process the transactions (right now we use Credit Card companies that charge companies ridiculous fee for this my YMCA alone pays $19,000 in transaction fees per year), and stable coins as the currency. The new blockchain tech allows for Transactions to take seconds to confirm and cost almost nothing to perform. \n\nSo when the base layer technology for global banking transaction officially switches to blockchain technologies like XRP, XLM it will remove the need for credit card processing companies like VISA. Transactions take seconds and cost almost nothing which enables employers to pay their employees in real time. Think about it, we get paid biweekly because of how expensive it costs employers to pay their employees. With blockchain we will get paid in real time, getting a paycheck at the end of each day because it no longer costs companies enormous fees to process banking transactions.\n\nSorry all that to say, crypto tokens can be used as currencies but really they are the token used by the blockchain to process the transaction. And then you can transact with Stable Coins that are pegged to a fiat dollar so that they are not volatile in purchasing power.\n 1 to 1 ratio",
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