It's not this one off transaction where, "Oh man, I got a great deal on this car.
Users who might have logged in once since creating a Coinbase or Kraken account are now trying to day trade on systems built for one-off transactions.
They include failure to maintain controls to prevent money laundering and terrorist financing; failure to assess the risks of customers and one-off transactions; failure to undertake due diligence checks on customers; failure to keep up-to-date records on customers and failure to carry out proper compliance checks.
That means they are essentially one-off transactions and the company is forced to hold these assets on the books with no easy way to account for their actual value.
If you assume such a market in tiny one-off transactions, then digital cash makes a lot of sense.
German businesses fear that the costs of due diligence will be too high for small and medium-sized enterprises, and for suppliers interested in one-off transactions.
For example, one-off transactions favor competitive types who see the negotiation as a game they must win.
Nor is there any hint that many of them were involved in one-off transactions with financial services firms like Chase, Citi, and Merrill Lynch.
In all our interactions with suppliers, but most critically with the audience we must also shift from one-off transactions to ongoing relationships.
This of course made sense for frequent client-merchant interactions and not for casual (one-off) transactions – for example, I wouldn't want the taxi that I took this morning to keep my card on file.
Classic e-commerce businesses were mostly saddled with high customer acquisition costs (loads of Google Adwords spend), low customer retention (one-off transactions), and operating models that consumed cash (due to warehouses full of inventory).
