- Minuscule transaction fees as opposed to 3% banking fees.
- Less necessary server infrastructure to manage identity/payments
Would these not be benefits or am I missing something?
I think that's what this project does, and the headline is simply misleading. It's not really "blockchain-enabled", it just uses Ethereum for payment.
What else can be inferred from the headline? What would it mean to "put car charging on a blockchain"? Can you explain for the rest of us ?
> the blockchain verifies how much the driver owes
Maybe there's something here where it's pulling external data (e.g. set price/unit or a trusted source that says how much was taken) to decide the price?
Of course not. You're paying for customer service, marketing, fraud protection & settlement, and a host of other things with that 3%. It's not 3% because that's what it costs to run a computer to figure out payment processing, it's 3% because that's what the banks can charge to run their business. In effect most people pay 2% or less because of credit card points, so really it's just a forced discount on retailers. Again, because the banks can.