> To be completely clear, not all of today’s cryptocurrencies will be supported on our network ... What are we looking for?<p>> ...privacy and security of consumers’ information — the same level of security people have come to expect in their credit cards.<p>Well that is a low bar, so OK.<p>> ...strict compliance protocols will be needed, including Know Your Customer...<p>Woops, suddenly we aren't talking about a currency - we're talking about another licensed money transmitter.<p>> To reach our network, crypto assets will need to offer the stability people need in a vehicle for spending, not investment.<p>So some kind of pre-mined and centralized token system... hmmm, I wonder which poison pill they're talking about... could it be anything besides ripple?
> With 89 blockchain patents granted globally with an additional 285 blockchain applications pending worldwide, we already have one of the payments industry’s biggest blockchain patent portfolios to draw from to make these projects successful.<p>People were sold the crypto vision with decentralization as the key idea which heralded the end of an outdated an inefficient centralized system. Now it looks like the momentum behind that movement has been co-opted by those who see the potential to transform it into one which puts a whole lot <i>more</i> power into the hands of the brokers.<p>It's funny how the support of a group with one ideology has given credibility to the polar opposite ideology for people with very different objectives and principles.
The point of cryptocurrency is that you don't need a private or government middleman.<p>My hope is that Ethereum 2.0 will become popular and there will be point of sale terminals that support it natively.
I really hope they don't choose Bitcoin or Ethereum. Something like Stellar XLM is not only environmentally responsible, the protocol settles in seconds rather than minutes.