Great recap Dave, and your posts are both fun and thought provoking. Given that we agree 80% of the time, I was trying to think of the top area where we disagree. I believe it is on the need for a replacement for "cards". While value exchange between trusted parties can be handled within a commercial agreement, most value exchange is not within a formal legal agreement. That is where V/MA come in.. it a legal structure where value is transferred, with defined rights, liability and support. All of this benefit comes at a very low cost in Europe (35/25 bps). The majority of eCommerce must run within this construct, this infrastructure has been built, and is supported by a wide array of specialists. Neither merchants nor consumers search for a 0 cost alternative.. Additionally there is very little need for "instant" speed... sure it would be nice.. but I don't want to pay for it or bear any additional risk.
Tom thank you! You won't believe this but I was just sitting staring at an empty screen trying to come up something interesting to write for Forbes this week, and you have (as always) made me think! I'll write something about the barriers to shifting to A2A, will try to get it out tonight our tomorrow 🙏🏻
Great recap Dave, and your posts are both fun and thought provoking. Given that we agree 80% of the time, I was trying to think of the top area where we disagree. I believe it is on the need for a replacement for "cards". While value exchange between trusted parties can be handled within a commercial agreement, most value exchange is not within a formal legal agreement. That is where V/MA come in.. it a legal structure where value is transferred, with defined rights, liability and support. All of this benefit comes at a very low cost in Europe (35/25 bps). The majority of eCommerce must run within this construct, this infrastructure has been built, and is supported by a wide array of specialists. Neither merchants nor consumers search for a 0 cost alternative.. Additionally there is very little need for "instant" speed... sure it would be nice.. but I don't want to pay for it or bear any additional risk.
Tom thank you! You won't believe this but I was just sitting staring at an empty screen trying to come up something interesting to write for Forbes this week, and you have (as always) made me think! I'll write something about the barriers to shifting to A2A, will try to get it out tonight our tomorrow 🙏🏻