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by ETH_start
1417 days ago
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>>For what? "Value storage" and grey/black market purchases and laundering? For everything: International remittance: no need to go the bank. Just send the USDC/DAI/RAI from my hardware wallet. Community treasuries: if me and a few other people in an online community want to create a jointly controlled fund, we can easily do that by creating a DAO, complete with a multisignature wallet. This doesn't require us to live in the same country, to register a corporation or a corporate controlled bank account, or reveal our real identities to each other. It makes casual financial collaboration orders of magnitude easier. Registration-free electronic cash payments. If I have a MetaMask browser wallet, and layer 2s finally solve the problem of extremely constrained Ethereum scalability, I'll be able to visit a website and when I encounter a paywall, I'll be able to pay $0.01 to read the article, instead of having to choose between buying a subscription or simply not reading the article (more likely). This is the kind of casual transaction between parties without an existing relationship that becomes far more practical with a well-developed cryptocurrency sector. Cryptocurrency becomes better than traditional finance for a significant fraction of payment applications if when scalability and privacy is solved. Relevant: https://news.ycombinator.com/item?id=31797395 |
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