There is a need and opportunity here to rebuild the aging, legacy infrastructure in payments, at the IRS, and within the banking system. It is not a technology problem. It is an opportunity, says payments consultant Collin Canright.
Until the technologies provide significant savings, cryptotokens threaten financial stability, and the risks of open access to central bank balance sheets are worked out, retail CBDCs are a long way off, writes Collin Canright, a fintech consultant.
Major retailers accept bitcoin, and BitPay reports that it will process more than $1 billion in payments this year. Even McDonald's is reportedly considering that it will accept bitcoin payments, writes consultant Collin Canright.