If Stripe really goes with their own L1, it will be a mistake. It would be another example of the „blockchain not crypto” cargo cult attempts we saw around 2020 with every second financial institution building their own private blockchain on Hyperledger Fabric. Where are they now? Why isn’t anyone talking about them? This would prove that they don’t get it. The reason we’re talking about crypto at all is that it’s different from what we have in TradFi and Fintech. If I wanted to build just solely on the Stripe stack I would do so today. It’s not like making stuff on blockchain unlocks some special capabilities unavailable on Java or .NET. But building on top of a global, permissionless, trustless financial system does. Building your own L1 is like building your own private network to compete with the internet. Just waste of time, resources and opportunities.