Bitcoin: the Stripe perspective


If we want to make Bitcoin useful but still allow consumers to think in their local currencies, the place to start is likely by building a series of “gateways”. These gateways should allow people to transparently get into and out of the network, while always thinking in terms of their normal currency.

A consumer could go and sign up for a gateway in their country, link their local bank account, and then specify all their actions in currencies they understand: “send £10 to this destination; send $20 to that destination”.

Behind the scenes, the sender’s gateway would convert the specified amount to Bitcoin and send those bitcoins to the recipient’s gateway. The recipient’s gateway would then translate the received amount back into the recipient’s preferred currency.

If this became widely adopted, we’d suddenly have proper connectivity between the world’s financial systems.