Bob Chakravorti was a guest lecture in Heather Russell's graduate law FinTech Program at Boston University Law School. Bob discussed the potential roles for cryptocurrencies and blockchains in finance.
In this article, Chakravorti asks why have general-purpose stored-value cards been unsuccessful in penetrating the U.S. market? Three necessary conditions for a payment instrument to be successful are discussed: consumers and merchants need to be convinced of its advantages over existing payment alternatives for at least some types of transactions...