Re:How Blockchain Works
by lawn on Wednesday September 26, 2018 @12:16PM
(#18077464)
> how it’ll change the world please.
Permissionless and trustless digital payments truly has the power to change the world.
It arguably already has with the rise of darknet markets and cryptojacking. Think of all the movies where a suitcase of cash must be delivered to a drop off spot, this now all goes away.
But the bigger picture includes making it much easier and safer for business which cannot take credit cards to accept payments. Think donations to wikileaks, porn and marijuana businesses.
Think about what it means for people to control their own money in case of a crisis. In places like Venezuela people are already using cryptocurrencies to avoid inflation, a corrupt government and to cross the border with their wealth intact. Charities like eatBCH uses cryptocurrency to send people money into the country in order to buy food.
Yet another step back, if cryptocurrencies would truly catch on and replace government backed fiat for general use, then it's not as easy to simply "print more money" to get away from financial troubles. Banks might then have to take responsibility for their actions instead of getting bailout after bailout.
Permissionless and trustless digital payments truly has the power to change the world.
It arguably already has with the rise of darknet markets and cryptojacking. Think of all the movies where a suitcase of cash must be delivered to a drop off spot, this now all goes away.
But the bigger picture includes making it much easier and safer for business which cannot take credit cards to accept payments. Think donations to wikileaks, porn and marijuana businesses.
Think about what it means for people to control their own money in case of a crisis. In places like Venezuela people are already using cryptocurrencies to avoid inflation, a corrupt government and to cross the border with their wealth intact. Charities like eatBCH uses cryptocurrency to send people money into the country in order to buy food.
Yet another step back, if cryptocurrencies would truly catch on and replace government backed fiat for general use, then it's not as easy to simply "print more money" to get away from financial troubles. Banks might then have to take responsibility for their actions instead of getting bailout after bailout.