Re:Introducing A16Z Crypto
by wpietri on Tuesday June 26, 2018 @12:17PM
(#17401835)
I'm saying it's a narrow case because most people doing international transfers are not interested in getting on the wrong side of the law. If you have data otherwise, let's see it.
Yes, the international transfer system isn't great. But that doesn't mean that blockchains are the best solution. Or a solution at all.
Is Somalia undergoing economic breakdown? I didn't find much evidence for that, and war doesn't mean that it is. And if it isn't, then it's not the kind of economic-collapse case that is typically used to justify Bitcoin.
If you're using an intermediary, then there's no real point to a blockchain solution. Blockchains create a trustless context. If I'm willing to trust an intermediary, then a blockchain doesn't add value.
Yes, the international transfer system isn't great. But that doesn't mean that blockchains are the best solution. Or a solution at all.
Is Somalia undergoing economic breakdown? I didn't find much evidence for that, and war doesn't mean that it is. And if it isn't, then it's not the kind of economic-collapse case that is typically used to justify Bitcoin.
If you're using an intermediary, then there's no real point to a blockchain solution. Blockchains create a trustless context. If I'm willing to trust an intermediary, then a blockchain doesn't add value.