Fiat Gateways to Crypto


#1

There is an interesting dialogue going on Reddit about how platforms like ChainBLX will interact (or not interact) with the traditional banking world. If I understand correctly, chainblx aims to resolve issues:


#2

avoiding fiat is the whole point isn’t it?


#3

YES and CBLX is claiming that once you are in their ecosystem you will be able to conduct all transactions in crypto without ever converting back to fiat


#4

however you have to convert to fiat if you want to buy anything. come on Amazon, go crypto


#5

would be great.


#6

There will soon be news that Amazon is working on blockchain tech, it will be kind of like how the Google articles have been, not much info. Mostly saying that they are thinking of going into blockchain but nothing more; or that they designated a team to blockchain.


#7

One problem is to exchange fiat to bitcoin with a credit card. What is when the the credit card is transaction is disputed.


#8

I can’t think of a way around that one.


#9

Well it should be at the amount you converted crypto to fiat, thats wishful thinking though. Because also, what if the crypto you used rises in price? Would they give you back the higher amount? Or would it just be in fiat since you already converted it from crypto?
Lots of questions.


#10

Yeah like every company says they’re doing blockchain, but it is all so general with no specific plan. The main reason I follow this forum is that chainblx actually talks about specific features to their platform.