Explain to me how cashu mints *aren't* essentially custodial banks?
Discussion
They can be much more. Imagine service like Netflix where you mint some ecash (swapping from lightning) on their mint (or some you both agreed on) and you pay for minutes you watch just by sending some http (or whatever) headers with the tokens.
Wouldn’t that all be handled internally on the Netflix like service? How does ecash help them? Allow me to withdraw my unused tokens… seems bad for business (good for me)
Well they don't need complicated a payment processor infrastructure.
There is also a v4v ethos.
And how many times you'd like to watch something but don't want to pay like $30 for a month. You not paying cents to watch content is their loss.
And further imagine something like a WiFi access point that charges you per minute or per GB. Cafes could earn sats by opening up their access points. People in densely populated areas of cities could provide extra access points as well.