@maff1989 I think something like Monaco card will be the intermediary between mainstream vendors.
Your thoughts on a Monaco card-style solution? Do you think it defeats the purpose of decentralizing?
RE: How can large-scale merchants like Walmart accept cryptocurrency as payment?
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How can large-scale merchants like Walmart accept cryptocurrency as payment?
Monaco card seems, to me, to be a crypto-to-fiat conversion layer that is not the same as accepting cryptocurrency. It's essentially a BitPay card. Merchants have no need to accept cryptocurrency with Monaco; the consumer is the one that spends the crypto, and Monaco converts this to fiat for the merchant to accept during a transaction.
Plus, Monaco is holding the money. They control the private keys. This is the equivalent to a traditional bank holding your fiat currency. If something happens to Monaco, what happens to the money they hold? I personally would not want to risk the possibilities in that scenario.
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Good question and answer. very intriguing concept and discussion. Keep up the good work! I am looking forward to the day when the fiat Reserve note is not taken seriously anymore.
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