It’s a shitty half-step, but likely an easier on boarding process for folks who dgaf about bitcoin but can be sold on faster, cheaper ways to move money. While still making Lightning stronger as more adopt it.
Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
What you say is a total crap, you still use fiat.
The WHOLE goal of Bitcoin is to make obsolete fiat, not to support it.
How does someone go from 100% fiat to 100% bitcoin without mixing? At some point you need to drop the fiat, mixing it with someone who deals with both. At some point people pay taxes in fiat, mixing your btc with someone who is dealing with both.
Get people on nearly free and instantaneous cross-border payments.
Once they start to understand Bitcoin a little more they will realize that they don't have to go back to Fiat and that the Bitcoin network has everything that it needs already or it can be built.
Fun fact: you don't need fiat over LN to do cross border payments.
Just use only bitcoin.
Bitcoin was created EXACTLY for this, to get rid of all intermediaries and conversions.
Bitcoin is not paypal.
Read the fucking bitcoin whitepaper, it says clearly in the abstract.
But open minded and curious enough to explore and discuss possibilities. I don't think that what is discussed in the article is the end goal, but who knows, if it can be a stepping stone that could be used to lead the masses to the Bitcoin economy.
I see products like this as an attempt to win over people who can't get over unit bias and are just looking for the cheapest way to move stablecoins, a niche that keeps things like tron alive
taproot assets baby that's when it'll be "decentralized" fiat on lightning haha