Could it be Flexa?
Tap and pay crypto is coming to Coinbase Wallet and L2 interoperability is on the way
The article says soon. Amp is confirmed /s
But seriously if Amp Flexa or Ampera is in this then it’s a big play we all hope for. Base is going to be part of the Amp ecosystem as shown from another recent post so maybe!
I’m curious but do we actually have a patent for tap to pay? It feels like we have more of a scan to pay solution on top of the payment links. I just want to see if this is something that gets around Flexa so Coinbase can charge their own fees.
I don’t think so guys. I believe Coinbase Wallet is going for its own system using stablecoins instead of collateral. It’s not going to let you buy things directly with crypto. Instead, you’ll sell crypto in your wallet to either cash or stablecoins and then use those to buy things.
This makes me sad. Flexa’s approach allows for immediate crypto use without that extra step while buying things and it seems it benefits both merchants and customers. NOT in a way that helps big players like Coinbase.
This might be a sign to move on since it seems they haven’t gained enough traction yet. Coinbase’s name alone will attract users even if it’s not as good as other products. That means Coinbase can keep developing it with user support and funds. They don’t even have to charge merchants fees because they make money when you sell your cryptocurrency for cash or stablecoins. We will see what happens.
This reminds me of the iPod vs Zune situation.
@Quin
The problem is nobody wants to use their crypto investments to buy stuff like toilet paper. Right now, the main reason to buy crypto is to invest. Flexa has a great idea but practical use isn’t working for what most people are doing.
@PupaSupa
Flexa’s end goal isn’t just to enable crypto payments, it’s to be a money rail that offers almost no fees for both the merchant and the customer while being asset neutral. Asset neutral does not mean only crypto.
Banks like Capital One use MasterCard to transfer your money from the bank to a merchant and have to meet MasterCard’s fees. There’s a huge incentive for regular fiat to switch to a Flexa-like system as well. Ideally, credit cards would fade away, banks would have a Flexa collateral pool, and you’d pay in USD at any store without needing a card—through a mobile app that utilizes Flexa’s technology.
I think many of you are misunderstanding what the technology is trying to achieve.
@Windsor
This is interesting. You’re right that I haven’t thought about it this way. This seems promising.
@Windsor
Your response doesn’t relate to the post I was responding to.
PupaSupa said:
@Windsor
Your response doesn’t relate to the post I was responding to.
Yes it does. Flexa isn’t about spending crypto, you didn’t even read my comment.
PupaSupa said:
@Windsor
Your response doesn’t relate to the post I was responding to.
Yes it does. Flexa isn’t about spending crypto, you didn’t even read my comment.
You made an account just to respond to me? The post I replied to was about limitations. When I bought AMP a while back, it was marketed as a converter. I sold mine at a good time and made some cash because I realized it had no real use since people aren’t going to buy toilet paper with crypto that might increase in value overnight.
If you have a new purpose now that’s great, but the post I replied to raised concerns. I was just stating facts, and if you disagree, I know you’re wrong. If you like AMP now, awesome. Go for it!
I still have doubts and this odd chat with you hasn’t changed that.
@Bao
Looks like investing. It feels more like a warning for gambling.
PupaSupa said:
@Bao
Looks like investing. It feels more like a warning for gambling.
You think this testing of the Flexa Capacity version 3 dApp is gambling?
PupaSupa said:
@Bao
Looks like investing. It feels more like a warning for gambling.
You think this testing of the Flexa Capacity version 3 dApp is gambling?
I don’t know, it just looks like you’re staking something. Explain if you want me to understand something you think I don’t. But please don’t just be blindly optimistic about your investment. We all win some and lose some.
@PupaSupa
And this ‘toy’ gives 15-minute compounded interest to every staker who supports the AMP collateral for those pools. When transaction volume goes up, so does the AMP buy pressure which drives the price up due to increased usage.
@Bao
When are Amazon and Walmart going to get involved?
The SDK is not very useful without good wallets to use it. Right now, we have Nighthawk and maybe Zcash? That’s basically it.
Also, Flexa and AMP have to figure out how to make users spend their BTC or ETH on regular items like lattes at Starbucks.
We need to get fiat to fiat transactions rolling, as that will be where the money is.
Parents in middle-class America don’t want to use crypto to buy their pumpkin spice lattes.
@Williamson
I feel getting vendors is the easy part right now. This system is a digital retail solution that fully collateralizes payments without needing a big liquidity provider.
A valuable partnership would be a bank that has Flexa payments built into their banking app. It’s not valuable just for converting checking account USD to merchant USD through Flexa, but because the bank could set up a credit account beside the checking account, offering customers the credit card payment experience they know, but without needing a fraud department to deal with failed transactions. It provides an instant settlement experience way cheaper than legacy cards can, due to the technology differences. That means the bank can focus on giving their customers credit and profiting off their payments.
A bank with a Flexa credit account would disrupt the old credit card model completely.
@Bao
A bank or two would definitely help, but I thought that was XRP’s area.
Williamson said:
@Bao
A bank or two would definitely help, but I thought that was XRP’s area.
This comment is empty, admin should fix
@Bao
I’m curious too. That’s a great question. I’d like to be wrong. Just when I want to walk away, the mystery pulls me back.’