The merchant advisor to Litecoin Foundation Jonny Moore is noting how Litecoin, Bitcoin and other digital assets could become more stable for use on everyday purchases.
In a new video, Moore said:
“A lot of people say, Jonny, Bitcoin is never going to be a good payment system because it’s too volatile. That’s why we need Libra coin. That’s why we need stablecoins, they say. Guys, we’ve already solved this problem.”
For those that don’t know, in order to use cryptocurrencies like Litecoin for everyday purchases and to get merchants onboard by accepting digital assets as a payment method, Moore goes onto explain how point-of-sale platforms use software that can settle crypto transactions in an instant, converting Bitcoin, Litecoin and more into fiat as soon as the merchant finalises the sale.
You can see Moore’s full video tweet here.
The solution bridges old money with new crypto assets by giving people the ability to spend crypto in the real world whilst they also enable merchants to receive dollars, removing the need for concerns in regards to exposure to Bitcoin and the consistent volatility that is standard with cryptocurrencies.
Moore says that software Aliant Payments is one of the several firms that address the use of crypto as regular cash.
“Guys, it’s simple. It locks in the price at the time of sale. There’s no volatility at all for the business. So this argument of Bitcoin or Litecoin isn’t good for payments because it’s too volatile or it’s not stable – well, they’re a great candidate to use Aliant’s crypto gateway because they don’t want to keep the Bitcoin or Litecoin. They want a stable price.”
“Aliant Payments is the one that partnered up with the Litecoin Foundation with the Miami Dolphins deal, bringing Litecoin as the official cryptocurrency of the Miami Dolphins.”
With the new partnership between the NFL team and the cryptocurrency, sports fans will be able to use Litecoin to buy tickets for events.
“What they’ve developed is huge. This cuts out the need for Libra coin, for stablecoins. You can hold your own private keys, a decentralized coin, and spend it when you want to spend it on stuff.”