[whatisweb3]

This is the “works on my machine” of the banking world. Local transfers in the UK work well but if you try to do the same transfer to a non-UK bank account, you will no longer have those same features. This is because each country implements it’s own banking protocols. In crypto, there is a single protocol that all users agree on, and so you can trade ETH, USDC, and other tokens all in the same way regardless of your physical residence.