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by elzr
4598 days ago
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Credit cards & banking are much less distributed outside the developed world. While in the US, 63% of the 15+ population has a credit card, in Mexico it's barely 13% (in Latin America in general it's only 18%). This is a HUGE obstacle for e-commerce and bitcoin's cash-like, informality (no requisites, no need to register or be approved by a central entity) might allow it to spread where banks have so far been unable to. (Source World Bank Financial Inclusion Data http://datatopics.worldbank.org/financialinclusion/) |
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http://sourceforge.net/projects/bitcoin/files/stats/map
/sarcasm
People in less developed countries don't buy online not because they don't have credit cards, they don't buy because they don't have money. If you make $5/day, bitcoin doesn't suddenly give you the ability to buy brand new iPhone.