Comment by projektfu

Pix, the Brazilian payment system, is basically a utility, and payers authorize the payment rather than the payee. It has very little friction, everyone uses it. It does require working internet.

I feel that Algorand (I'm not a holder anymore) was positioned to work as such but would require all the parts to make it successful. The 0.001 ALGO transaction fee cuts down on silly transactions while making 0.1 ALGO transactions possible. It also allows trading in stablecoins or CBDCs as they are enabled. It can complete transactions in milliseconds and moderately-sized participants can easily help maintain the whole network. It never gained traction, however, probably because it isn't a good HODL.