And even if recent claims put the price at between € and € and the processing time at under ten minutes, this compares poorly to 0.2 euro cents and a maximum of ten seconds for transactions on the forthcoming TARGET Instant Payment Settlement (TIPS) service.
The second function of money is acting as a unit of account, without which buyers and sellers would not be able to measure the value of a particular good or service. VCs fail this test – none of them are generally accepted as a unit of account. In part this is due to the lack of widespread recognition.