Payments, especially those across borders, are often touted as a key use case and value proposition for the blockchain industry. Unfortunately, a look at both the technology, competition, and regulatory environment doesn’t really support that idea. And the launch of FedNow by the Federal Reserve in late-July is a good occasion to take a look at why, for most people and companies, the value proposition of using crypto or blockchains for basic payment services isn’t very appealing.
