Digital Economies

jakehake

Preachs PA
Staff member
Patron
I know there was some mention of Bitcoin in other threads the other week but interesting that VISA have seemingly patented a fiat currency idea using blockchain


Given this was seemingly a time where things are being ripped up and “anything” can be the new normal. There was always the view that shops “had” to allow cash yet alreadyin the space of weeks most are actively trying to encourage people only to use electronic payments where possible. Almost like it’s striking whilst the iron is hot. Also not sure how something works when Visa obviously only really has MasterCard as an opponent and how one or the other can coexist if it does change the concepts.

Despite working at a blockchain dependent company I’m still utterly baffled by it all frankly
 

Sid Snot

Manager - East Cheam FC
Patron
I know there was some mention of Bitcoin in other threads the other week but interesting that VISA have seemingly patented a fiat currency idea using blockchain


Given this was seemingly a time where things are being ripped up and “anything” can be the new normal. There was always the view that shops “had” to allow cash yet alreadyin the space of weeks most are actively trying to encourage people only to use electronic payments where possible. Almost like it’s striking whilst the iron is hot. Also not sure how something works when Visa obviously only really has MasterCard as an opponent and how one or the other can coexist if it does change the concepts.

Despite working at a blockchain dependent company I’m still utterly baffled by it all frankly
Not sure about the UK but Amex is very strong in North America.

My ethereum hurts after trying to read that 😂!
 

LancasterRed

Mad Scientist
Patron
This was always going to happen. COVID-19 only accelerated it.

I don't really get blockchain either - I always ensure I take the other questions when given the choice. Have to admit I'm not comfortable with it in its current form unless it can be simplified into a definition that anyone can understand, there's too much fluidity in the way it's interpreted at the moment.
 
This was always going to happen. COVID-19 only accelerated it.

I don't really get blockchain either - I always ensure I take the other questions when given the choice. Have to admit I'm not comfortable with it in its current form unless it can be simplified into a definition that anyone can understand, there's too much fluidity in the way it's interpreted at the moment.
No - nothing there for me - over my head like,a bloody rocket.
Don't tell him but John T is easier to understand than that gobbledygook.
It's stuff like that which makes me grateful to be a dinosaur.
 
No - nothing there for me - over my head like,a bloody rocket.
Don't tell him but John T is easier to understand than that gobbledygook.
It's stuff like that which makes me grateful to be a dinosaur.
Just returned to this thread - BIG mistake!!! Once you click on the link, it's got you.
The only thing l understand from the other posters is their user name and the full stops.
No idea what they are talking about, but it's becoming addictive.
Is it just me or does anyone else feel the same?
 

Michael

Manager

What do we think?
I couldn't read this as don't have the subscription, so really I'm just responding to the headline...

I've always felt the government should introduce an online sales tax to try and encourage people to head back to brick and mortar shops. Doesn't have to be huge, say 2-3%, but hopefully would provide a win-win as if more people visit shops it can create more jobs, result in less empty highstreets etc, and if not its still more money in the coffers.

Could be total hairy strawberries of course, but just my tuppence worth.
 
OP
J

jakehake

Preachs PA
Staff member
Patron

What do we think?
Paywalled but I get the gist. It's a tricky one, VAT affects the poorest most. Reducing it by even a tiny amount won't affect most people to an extent that they would notice it in their pocket. The retail and hospitality sectors are saying to give them an additional reduction would help their recovery. There feels like their will be a blatant spending boom this year regardless once people are back allowed out so even if you don't touch the rate receipts would likely be up (though whether that fills the gap from the lost receipts these last few months it seems unlikely). They aren't allowed to put any taxes up I thought based on their original pledges so reducing something they can't reverse could be interesting
 
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