Almost all delayed transactions are due to fraud. The delay is often implemented to protect the sender from losing funds.
How does crypto handle fraud?
[1] https://www.westernunion.com/us/en/restrictions-money-in-min...
> How does crypto handle fraud?
Not every transactional system needs to adhere to the same set of antiquated and arduous AML checks and balances; which often break (either by allowing fraud to occur or incorrectly flagging and delaying valid transactions). For comparison, Cash App has no dispute mechanism:
https://cash.app/help/us/en-us/6501-sent-money-to-the-wrong-...
So the real question is: what is the technological benefit offered by decentralized ledger-type technologies versus traditional ones? The answer for many is that the technology is much worse in fundamental ways. Additionally the governance issues of a decentralized system or organization are very challenging to address.
1. https://en.wikipedia.org/wiki/Financial_Action_Task_Force
As to your fundamental question, the above might already hint at it: decentralization. It’s an open source spec; shared and unified across the globe, that is not in the control of any one state government or private company. Other features like near-instant settlement times, programmability, 100% uptime, privacy (ZKP), permissionless usage, minimal transaction fees (L2)—these are all practical bonuses that do improve on the status quo in today’s payment processors.
Cash App is US only and thus doesn't apply to your initial comment. Let's stay on topic please. Thank you.
Reiterating what I wrote in another comment, since you seem to be viewing this solely from your own experience:
> A lot of people have a limited set of experiences, such as sending wires or Wise payments to/from a specific country, and it works well for them, without realizing there is an entire world of other scenarios outside of this scope where it is not as well suited.
And Cash App is just an example; people are happy to send money with it, despite the lack of dispute and reversibility. Many people have friends and family across the world now and would probably be fine sending money to them without strict, slow, and costly AML checks on every transaction.