Question

One current trend is the rise of Cryptocurrencies in society. However, some argue that there is a design problem.

consider the current limitations of payment gateways and reimagine the payment processes.

main question is to identify All user (and non-user) groups identified and considered classification of their needs in this system e.g. primary user, secondary user, and tertiary users.

Please identify the users/stakeholders in this cryptocurrency payment system domain and/or gateway. pLease provide examples and in depth analysis on each user group

Answer 1

Traditional bank payments have many problems with them and one of them is the dependency of these transactions on the bank, so if the bank is not available at any time thus the transaction cannot be done. Thus for the payment gateways, the bank is the crucial part of the transaction. There is no such flexibility in these transactions as they are mostly regulated very strictly by the bank.
But the transactions made by the banks are very safe and are atomic in nature. There is a method of reversal of amount which one pays to someone which is not the case with cryptocurrency.
cryptocurrency technology which can be used as the payment method. But there are many pros and cons with this technology as in this these payments are just one way which is a good thing for the transactions as if someone would have paid you it cannot be reversed so if you have sold something and got the payment using cryptocurrency then the amount cannot be taken back as it can be done in case of credit cards.
The cost of cryptocurrency is very less and is determined by the user, as it depends on the speed at which we want to receive the money.
But unlike traditional bank transactions there are not secured to that extent, and as this is decentralized thus its value is not constant.
Thus the traditional payment methods have their own pros and cons, so does the cryptocurrency has.

Do let me know if you have any doubts regarding the same.
Thanks