“From my perspective, at the heart of the war for the future of money is the impending battle over who will issue the dominant digital currencies of the future, and thus who will control the networks or “rails” upon which a majority of payments and transfers of value take place.”

I agree and would say that one of the greatest opportunities that digital currencies present is choice. Consumers and businesses can now choose to hold their reserves in whatever currency they like. When it comes to payment rails, we have more options than ever. We can use crypto-systems like Bitcoin, Litecoin, Dogecoin or we can use Fiat via cash or a legacy rail such as Paypal, SWIFT, ACH, etc.

The rise of dollar-ecoins will present a digital and programmable alternative to legacy fiat rails and will present retail and central banks with a difficult challenge. By adopting and promoting these more efficient rails they will be cannibalizing high-margin business units and could inadvertently trigger a run on the banks.

From my perspective, the major gap that exists right now is usability. The wallet landscape is fragmented, scam wallets are stealing peoples money, discoverability is an issue, and average people don’t tolerate anything confusing or non-intuitive. I see a universal digital wallet as the solution and I wrote a book about it if anyone is interested.

Let's keep the discussion going.

Be truthful, fearless & gentle.