[arcticbull]

I mean, so is FedNow and RTP and SEPA - the list goes on and on - none of which are blockchain powered. They settle instantly and finally. In the case of international transfers, the delay is intentional for regulatory and risk management purposes. Not technical reasons. So the advantage of crypto isn't technology but regulatory arbitrage.

[datadata]

These work if you either have a master fed account or have credit with some bank that does. You can't settle instantly with an entity that is not already known in the system.

[arcticbull]

I can't see how that's a problem.

[datadata]

Do you think a bearer asset like cash has zero use cases? Bitcoin allows settlement much like this with a party that doesn't need to be identified and already trusted by a central clearing house. Of course this can be dangerous and might not be desirable for every transaction, but there clearly a technological achievement to make it possible.

[arcticbull]

No, my point is that having to use an intermediary is not an issue. If you really don't want to be identified open an LLC.

[datadata]

Proposing opening an LLC is a pretty involved workaround that again requires more supervision and gatekeeping (e.g, for many people and many countries this is not even possible). Cash like settlement with any person on the planet without any intermediary is a pretty big technical achievement that absolutely was not possible before blockchain.