Re:Building for the Blockchain
by solotronics on Tuesday January 09, 2018 @12:39PM
(#16107983)
its only a matter of time before bank settlement and cross border payments are all done on blockchain. I would think that asset tracking and real esate deeds are a great application. Asking why these things aren't on the blockchain yet is like asking why businesses aren't using the internet in the 1970s.
[ Parent
| on HN ]
That's the core use case I mentioned: currency and wire transfer. I've used it for that and the value is there.
I will add though-- the major reason cryptocurrency has so much value in that space is that the alternatives (bank wire, Western Union, etc.) are so terrible from a UX perspective. If those alternatives vastly streamlined their UX I think a lot of the value in cryptocurrency in the developed world might disappear. It might still have value in countries without good and reasonably stable banking systems.
Are you at least somewhat aware that the user experience of cryptocurrency is currently abysmal, and worsening?