I know very little about cryptocurrency, but from my understanding this thread is mostly on point. Would be interested in views from experts in the areahttps://twitter.com/justinlabel/status/1433630073974894594 …
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Yeah, if there was a “crypto card” or “crypto paypal/venmo” it could take off, but transaction latency and technology entry barrier make it impractical for the global financial revolution to one-world-currency that the fans dream of
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Also, these nations could just switch to dollars. Panama and some other countries have done. Surprised this doesn’t happen more often.https://en.m.wikipedia.org/wiki/Currency_substitution#Types …
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That will be possible when cryptofolks make it a seamless transaction. Remember, m-pesa is handled via cellphone credits without the need for banks and it is used for buying bread and bananas. Right now >90% of Kenyans have this mobile currency account!https://www.vox.com/future-perfect/21420357/kenya-mobile-banking-unbanked-cellphone-money …
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So the goal would be skipping the agents as much as possible. It sounds like cashless transactions are possible in these apps, which is exactly what is needed. Good stuff! Hacking sounds concerning in populations with limited computer literacy.
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