Re:Ask HN: What real world problem does cryptocurrency solve?
by ggeorgovassilis on Monday February 14, 2022 @08:34AM
(#30331790)
> So to summarize, it is useful for variously exfiltrating money out of a country, laundering
Summarizing & paraphrasing :-) Greece instated capital controls virtually over night, likely illegally as there is freedom of capital movement in the EU [1]. The money on a bank account resides in a particular country, so its legislation applies. Which country's legislation applies to funds in a globally distributed blockchain, whose copies reside all over the globe?
Summarizing & paraphrasing :-) Greece instated capital controls virtually over night, likely illegally as there is freedom of capital movement in the EU [1]. The money on a bank account resides in a particular country, so its legislation applies. Which country's legislation applies to funds in a globally distributed blockchain, whose copies reside all over the globe?
[1] https://www.bbc.com/news/business-33303540
edited for spelling