Whenever there is an issue regarding fiat currency, bitcoin is sure to have the last laugh. Bitcoin has been around for about 8 years as an alternative digital currency, which is perfectly capable of operating of ensuring transfer of value without the intervention of an organization or a government as the trusted third party. The decentralized, open source, peer to peer transaction protocol allows people who are part of the network to act as a third party to facilitate transactions.
When it comes to fiat currency, the story is completely different. Every organization, starting from the government appointed Central Bank to the local bank branch or the payment gateway service provider wants to act as the gatekeeper for their customers’ funds and charge a hefty sum for doing so. Customers end up unnecessarily paying for these services which may not even be beneficial for them.
Dissatisfaction among customers is a common occurrence in the fiat industry. Recently, Walmart in Canada made its displeasure towards the payment processing giant VISA by announcing that it will not be accepting VISA powered cards anymore from its customers. While the ban is expected to come into effect from July 18, Walmart Canada