What are the key differences between blockchain and traditional payment systems?
An example of an AI chatbot conversation about blockchain vs traditional payment systems.
What are the key differences between blockchain and traditional payment systems?
Blockchain payments are decentralized and secure, while traditional systems rely on banks and intermediaries.
Can you explain how transaction speed compares between the two?
Blockchain transactions can be slower due to network congestion, while traditional systems can process payments instantly.
What about transaction fees?
Blockchain fees can vary based on network demand, while traditional systems often have fixed fees set by banks.
Are there any security advantages of using blockchain?
Yes, blockchain offers enhanced security through cryptography and immutability, reducing fraud risks.
Which system is more widely accepted today?
Traditional payment systems are more widely accepted, but blockchain adoption is growing rapidly.
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