What floors me is the time when companies like Paypal and Stripe called crypto trash and a waste of time. Now Paypal offers some onboarding on crypto and guess what next comes Stripe who just announced they will be launching a crypto payments front.
Do We Care?
For me personally I don't, these business are only trying to save face now to the industry that is taking their business. They simply act as the "middle man" again offering nothing of value in return for their middle man fees.
What these companies don't realize yet is they are obsolete. In fact you're going to have to report EVERYTHING as you fill out countless KYC information, tracking details, access to your wallets, NFT orders and so forth.
Will most people care about giving that up?
Nope, for the most part those who don't really understand crypto yet and realize it takes a little work on manage their funds sadly wont and instead wave all of those freedoms for a little easier of a interface.
These moves at least do bring something of value and that's in the way of proving what we knew all along. The legitimacy of crypto and how powerful it truly is. Now we see companies and governments scrambling to try and make sense of how they can add it to their books and cash in on it.
Make not mistake about it though you are going to be paying much higher fees than if you where to just use crypto itself. But we already see many don't care with the introduction of Coinbase.
This also brings with it further adoption and use cases however in this case it's almost always transferred back into USD and you're gonna pay for it this is why I talk about those big fees. You'll be paying massive fees for ease of use so the company can make profits and convert that crypto into a USD value. It's pretty wild when you see it in action all the steps to make it happen and that end cost goes back to the user.
I'm curious if it would be enough for someone to do some research and start using crypto themselves or if they would simply not bother and move on. We all know how much of a attention span people have these days.
Web3 gets tossed around A LOT anymore. There's really no definite answer as to what it is or how it will work. But be sure companies like stripe will be sure to use it and say they are on the forefront of making easier payments for web3.
I find that difficult to believe and a future of web3 that looks like that honestly disgusts me! What we need from our developers here on crypto are easier onboarding methods and abilities to use the blockchain as well as making it easier to understand.
What made coinbase so popular was the easy of use. The constant battle I have with developers is nuts. To them it makes sense but far too few realize it doesn't make a ounce of sense to your users and with that major issue there your project will have a very hard time to run.
We did see a nice blend however with Splinterlands that offers a easy onboarding method with paying via CC and then using those funds to give the account enough hive in order to do battles "transactions" on the hive blockchain.
These types of easier onboarding will be what shape how web3 will be. Either company run or the crypto community by the masses and more decartelized. It's up to our devs though to make that happen.
