Hi all. Just started looking into Stellar, loving the documentation so far - helping me understand it a lot easier than other blockchain type projects.
Reading about the Distributed Exchange here - https://www.stellar.org/developers/guides/concepts/exchange.html
It sounds super interesting - but I'm confused what the barriers are for implementing a relatively simple payment processing setup into a real world app (and why we aren't using this app yet if it does work).
For example -
I'm a freelancer. I use Paypal to send invoices to my clients, asking them to pay me $500 USD for example. They enter Paypal website, put their credit card info in which then (eventually) transfers to my account in the form of USD as well.
Is this possible with Stellar currently? Could someone give me a pointer into the right direction here.
Would the process be similar to -
1. Account A wants to send $500 USD to Account B.
2. Account A uses credit card / whatever to purchase Stellar asset recognized as USD.
3. That asset is set in transaction, goes through the Distributed Exchange and gets traded for XLM.
4. That XLM then gets sent to Account B.
5. Account B can then keep XLM or once again switch it to USD.
6. Account B sells XLM (or USD) to an exchange/company and receives actual USD in bank account.
No... that doesn't make sense. Any thoughts here? I might be way out of my league here but I'm trying my best to understand it.
Thanks so much.
Edit - This explainer snippet makes a bit more sense - https://www.stellar.org/how-it-works/stellar-basics/explainers/#Multi-currency_transactions
I guess I'm just confused - if this is working right now technically with Stellar, why is it not being used? Why am I not using a Stellar based payment system for my freelance clients day to day? Is there a major obstacle? Bank connections?
EDIT 2 - I guess the issue is rather with the anchors - not with Stellar. We need to put our trust in a third party in this situation which makes it slow, cumbersome and not worth it?