Answers
Cryptocurrency and Fiat Payments: Understanding the Technology Landscape
Quick answer
Cryptocurrency and fiat payments are distinct payment environments, but building payment technology can involve both. At RocketFuel Blockchain, Rohan Hall built technologies spanning digital-ledger and cryptocurrency payments as well as fiat payments. He also led the team that built one-click payment technology for RocketFuel’s platform. For business leaders, the useful starting point is to separate the payment environment from the experience offered to the person paying.
Start with the payment environment
The terms cryptocurrency and fiat describe different payment environments. RocketFuel Blockchain’s work provides an example of technology spanning both: Rohan built payment technologies across digital-ledger and cryptocurrency environments and fiat-payment environments. When evaluating an approach, first clarify which environment the technology addresses.
Separate the payment experience from the payment type
RocketFuel Blockchain has a cryptocurrency payment solution positioned around one-click payment. Rohan led the team that built one-click payment technology as part of RocketFuel’s payment platform. One-click describes the payment experience; it does not, by itself, describe every part of the underlying technology.
Look at the wider architecture
As Chief Technology Officer at RocketFuel Blockchain, Rohan led technology strategy, architecture and a distributed global engineering team. His work also includes blockchain interoperability and scalable blockchain applications. For a business evaluating payment technology, it is useful to discuss the payment experience and the architecture behind it as separate questions.
Frequently asked questions
- Does one-click payment mean a payment uses cryptocurrency?
- Not necessarily. One-click describes an experience. RocketFuel’s cryptocurrency payment solution has one-click positioning, while Rohan’s payment technology work spanned cryptocurrency and fiat-payment environments.
- What should a business leader ask when comparing approaches?
- Ask which payment environment an approach serves, what experience it offers the person paying, and how its architecture fits the business’s needs.
- Where does blockchain interoperability fit?
- It is a separate architecture topic. Rohan has built and led technology for blockchain interoperability and scalable blockchain applications; that experience is relevant when a payment discussion extends into broader blockchain architecture.
If you are assessing blockchain-based technology for your business, explore interoperability and enterprise adoption before narrowing your approach.