What if you could buy your next breakfast with crypto?

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My Morning thoughts as I munch my breakfast...

Money as a medium of exchange of value

As we as a civilization evolved from nomads to doings different roles in the society we essentially relied on a barter system.
This system basically helped two people make an exchange or barter between what we had and what we wanted.

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The value of exchange though notional but it was functional. Slowly valuable metals like gold and silver became a store of value and evolved as a currency of exchange.

Somewhere down the process we settled into an administrative system that took control of the currency putting a tax on income and controlled the way money moved.
Down the line our money was no longer backed by gold, silver or anything of real value.
It was a piece of paper or round cobbled metal with markings.

It was a promise to pay and we have lived by this promise all our lives.
Sometime not too long back we started using digital wallets.
It gives you the option to load your wallet with fiat money.
Either by way of

1. Walking into a shop paying cash to the guy who loads it into your wallet through his terminal
2. Use a credit/ debit card to load your wallet
3. Link your wallet to your bank account and directly spend money from there or send it to someone
   Of the above three I tend to use the option of loading via credit or debit card more often.

Even though a lot of wallets promote linking your bank account to your wallet however for some reason I am not able to convince myself to do so.

Over the years these wallets have gained acceptance and the advantage is you do not have to worry about the right amount of change being returned to you. As you can make a payment of the exact amount.

The way we use money is changing

With the current pandemic we are sceptic about coming in direct contact with people. Even the surfaces we touch could be infected and can cause us to come in contact with the virus.
This includes the currency we touch and it is a difficult task to clean the currency.
One could wash the coins with soap however cleaning currency notes is all together a different game.
This has changed my inclination towards digital wallets.

Inclination towards plastic money and digital wallets

Now I reach out to my phone and fire up my digital wallet to make a payment.
This happens a lot more now since I am reluctant to handle cash.

One can scan the QR code of the store and make the payment. This is contact less and less cumbersome than handling currency notes.
Though some people do not accept digital payments and for them I carry some currency in a zip-lock plastic bag which I carry separately.
As I usually wear gloves and handle everything wearing these I try to reduce the risk of bringing back the virus and infections into my house.

Could crypto take its place ?

Since digital payments are already being accepted around us so a big question arises could crypto payments replace the digital payments for making purchases?
Crypto payments can be must faster and efficient as compared to fiat payments.
They can offer lower fee and guard our privacy too.
One may argue what is the harm in letting someone know you just bought 1 bottle of milk some 30 minutes ago?

There is a lot more to making payments for milk through the digital fiat wallet. Your wallet tracks a number of things from the amount you load into your wallet to the brands you buy and the quantity.
This is vital information in the hands of marketeers who use this information to target campaigns towards you.
Rather than you seeing the information you want, the marketing agencies create ads and content about the things they want to sell to you.

Thinking of the crypto payment alternative

What if the process went like this? you go to a store pick up the stuff you need and use an anonymous crypto wallet to make payments.
This would be without having to share vital personal information without your consent.

Maybe we should help the stores near us get to use crypto. A good starting point could be getting on to Hive, steem blurt and making an account to account payment.

SourceSorry if you find this a bit cheeky. However the stores sure could accept crypto payments.

It is time to take the initiative

Perhaps with people more inclined to use digital payments we could look at creating options to make crypto payments as a means of paying online or at stores.

I am aware there may be the odd cafe or store that accepts digital crypto payments but they are difficult to find and not the norm.
A much better scenario would be to have crypto being accepted everywhere and seamlessly.

On boarding the masses to social media platform like this that reward you in crypto could be a good starting point.

Apart from that we need a seamless crypto fiat gateway so that the money flow does not get interrupted.

Hopefully we see that day soon and it is one in which crypto is accepted without the negatives of fiat currency.

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