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by dna_polymerase
2760 days ago
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> Ok, but what problem is cryptocurrency solving exactly? Simple. It enables payments, to be more precise: Online Payments. Now you could do those using your credit card (like most people in the US do, or basically all of Scandinavia). That is, if you are able to open an account with a bank, and being issued a CC. However, this is not possible for many people. Outside the western world banking isn't available to the same extent as it is there. In a world where more and more commerce moves online - thus enabling whole new businesses and economies - we can't afford to just let people behind. Speaking for Ethereum now, banking the Unbanked is a centrepiece of the project. Also, wire-transfer isn't free in some places of the world, some projects seek to eliminate those fees entirely or reduce them to peanuts effectively. It's basically democratising online payments and giving people access. Also some projects (like ZCash and Monero) seek to bake in privacy into payments, which is nice given that all Credit Card payments are recorded by private companies. I don't know about you but I already dislike online advertising, I don't want some company to know about everything about my payments. |
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Lol