Re:Cryptos can't fix societal, political or economic problems
by user-the-name on Thursday November 25, 2021 @06:39AM
(#29340476)
> it seems useful for cross-border remittances
It seems useful for that, yes, but it turns out: It is not actually useful for that. The economics just do not work. Crypto can not support a one-way money flow, so it has to rely on middlemen for the reverse flow, and that ends up being at least as expensive as traditional ways of doing remittance.
Many companies have tried to make this work, and they have all folded.
It seems useful for that, yes, but it turns out: It is not actually useful for that. The economics just do not work. Crypto can not support a one-way money flow, so it has to rely on middlemen for the reverse flow, and that ends up being at least as expensive as traditional ways of doing remittance.
Many companies have tried to make this work, and they have all folded.