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A comment on Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say. Parent comment

Re:Facebook Is Developing a Cryptocurrency for WhatsApp Tran... by gregschlom on Friday December 21, 2018 @10:49AM (#18734021)
And how does that person in that small village in Peru converts their WhatsApp coins, or whatever they are called, into actual money?

And if the answer is: they do a transaction with someone else who wants to trade their money for WhatsApp coins then again, why do you need the blockchain versus a centralized WhatsApp currency.

Blockchain is a solution when there cannot be trust. If I trust WhatsApp, and you trust WhatsApp, and WhatsApp has a money exchange feature, we don't need the blockchain.

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Re:Facebook Is Developing a Cryptocurrency for WhatsApp Tran... by the_clarence on Friday December 21, 2018 @11:18AM (#18734257)
It could be about the legality of aetting a bank in every country and figuring out rate exchange
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Re:Facebook Is Developing a Cryptocurrency for WhatsApp Tran... by geofft on Friday December 21, 2018 @03:40PM (#18736437)
Why would it be more legal / legally easier to set up a service in Peru that turns WhatsDubloons into soles and vice versa, affiliated with a multinational company that converts WhatsDubloons into USD, than an entity that directly transfers soles and USD?
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Re:Facebook Is Developing a Cryptocurrency for WhatsApp Tran... by the_clarence on Saturday December 22, 2018 @04:31AM (#18739830)
Because these crypto exchanges already exist
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