Credit Card fees on the chopping block?
I'm sure some of you have seen the Jack Mallers presentation at BTC 2022. The dude comes across as a punk...but I gotta give him props - he's smart.
With his cash-BTC-cash transaction point of sale software, I believe credit card companies...and certainly the western unions, are on the verge of being disrupted.
If Mallers can write software that utilizes the BTC blockchain just to record a transaction, and the merchant doesn't even know BTC was involved (with no BTC tax/volatility issues), then how much longer can credit card companies continue to reap 3% transaction costs going forward? What stops Apple, Google, CashApp, etc from writing software that records transactions on the blockchain?