**Summary:**
The video discusses one of the often overlooked features of the Hive blockchain, focusing on peer-to-peer transactions with no fees and extremely fast settlement times. It highlights the potential for Hive to disrupt the cross-border payments industry, which is estimated to involve trillions of dollars annually. The speaker emphasizes the significance of this capability in eliminating borders and traditional banking systems from the payment process.

**Detailed Article:**

Task starts by shedding light on the basic yet essential feature of peer-to-peer transactions on the Hive blockchain. He emphasizes that while many blockchains allow this functionality, the crucial differentiator for Hive is its decentralized nature, with over 100 block validators ensuring the system's integrity.

The video discusses the seamless process of sending money from one wallet to another on Hive without incurring direct transaction fees, thanks to the staking of Hive tokens. Task stresses the significance of this feeless and fast (three-second transaction time) system in comparison to traditional banking systems.

The conversation delves into the potential disruptive impact of Hive on the cross-border payments industry, estimated to involve trillions of dollars annually. Task emphasizes the value proposition of Hive in facilitating instant, feeless transactions irrespective of geographical boundaries, likening it to sending a transaction to a neighbor or to someone in a different country without any distinction to the network.

Furthermore, the video touches on the lack of attention given to cross-border payments in the cryptocurrency world, despite the vast size and growth rate of the industry. Task underlines the power of Hive to potentially target a portion of this market, revolutionizing the way transactions are conducted globally.

In conclusion, Task encourages viewers to consider the revolutionary implications of Hive's capabilities and how it could disrupt the massive cross-border payments sector. He questions why more attention is not given to this fundamental feature of Hive and its potential to transform traditional financial systems. The video ends with a call for further consideration and discussion on the disruptive power of Hive in the realm of cross-border payments.

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*Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.*

certainly that is a very interesting detail which I had not taken into account that they hardly charge us for sending payments to any part of the world

The speed of transactions is definitely the bottleneck and I think the blockchain is the best at that factor. At the same time, it is also transparent so people know that the money was sent over. 

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At the customer service counter in my local grocery store, I’m sometimes in line behind someone doing a money transfer, often to Central America. *Show your ID. Specify the name of who you’re sending it to. That’ll be $9.95 per transaction. Fork over the Jacksons*. 

After one such transaction, I asked the cashier why people transferred money that way when crypto was so much easier. Got a blank stare and a *”What?”* 

I sometimes feel like I’m standing among dinosaurs.

Most of your bigger layer 1 blockchains don't have that many active validators. I think Hive is decentralized enough. We do need more witnesses onboard, but I know that without being incentivized more than they are unless they are in the top 20 cabal. But I am interested to see how the vote decay is going to shake that up.

[HivePay](https://hivepay.io) has already done a lot of groundwork to help businesses accept HIVE and HIVE-Engine Tokens. The best part is that HIVE-Engine does include wrapped assets meaning it could even be used as a better, faster, cheaper version of Lightning Network. One of the biggest roadblocks I have seen is that there are not enough places to easily exchange HIVE to other cryptocurrency or products/services. The situation for HBD is even worse. 

THORchain integration and [this proposal](https://peakd.com/me/proposals/206) from @ecoinstant could help us with some good momentum. 
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Right now with any crypto, unless the price is locked in, volatility in real world fiat price could outweigh the reduction/free in fees. 

HIVE, even though there is no direct transaction fee, liquidity is a challenge for large amounts for it to be feasible. 

For large transfers, BTC fee is a tiny % compared to the legacy banking system.  For smaller transfers, fees for ADA, BCH, XMR for example are low enough and have better liquidity. 

HIVE right now feels like an excellent solution in the micro-transaction space and needs to grow up before taking on bigger ticket items.