Re:Libra still needs more baking
by fidelramos on Sunday April 26, 2020 @06:13AM
(#22986029)
There are people who don't have and cannot open bank accounts, especially in third-world countries. Cryptocurrencies (I'm talking about Bitcoin and friends) give them a way to receive money from anywhere in the world and store it safely.
In my country (Australia), our Government could deposit money into the bank account that paid their last tax return with in less than a day... We have no transfer fees and real-time transfers (you can link a phone number to your account too). For international, things like TransferWise are pretty compelling and have crazy low fees...