Why Doesn't Square Create a Digital Currency?


Why not McDonalds? Better yet, why not you? You could offer discounts on wontons purchased with MMPs.

So do credit card points and frequent flier programs count as digital currency?

McDonalds, and myself, are not channel partners with an impressive list of retailers. Mcdonalds isn’t accepted as payment anywhere, but square is used.

I just thought, seeing as digital currency’s biggest folly is that it’s not accept anywhere (this is changing with bitcoin accepted at subway), why not square start their own digital currency and agree to accept it anywhere square is accepted?

money must:

  1. allow taking account: (bitcoin does this)

  2. allow to work as a store of value: (bitcoin does this, albeit the fluctuations)

  3. be a medium of exchange: (bitcoin currently lacks here)

square is in a position to offer something that can handle the last requirement of a money-- the hardest requirement to overcome. The other two are pretty easy.

I just really don’t see any added value of using a digital currency for everyday transactions, especially one that’s volatility resembles a TSLA price chart. It’s purely speculative right now and the businesses that will accept it are likely only looking for the publicity that will come along.

must be because we already have a currency.

ha ha