> In fact, the requirement that you need good internet speed for crypto to run locally means it's even harder for a place without infrastructure to participate.
Internet costs less than $2 for monthly unlimited data.
You can find 300-500 Mbps broadband in small towns of country where you won't find roads or basic hospitals.
This access is fast and cheap enough for unbanked people to access it.
These unbanked people would also have access to things like smartphones and computers because crypto doesn't exist in real world.
And yet those countries would not have banking infrastructure.
Nice. Nice.
Any such countries exist?
But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading.
And yes, crypto is starting to catch on out there as an alternative.
Keyword: some.
Also, banking over SMS was a thing long before crypto.
> But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading.
Then it will be swallowed by something smilar to AliPay. Not by crypto.
SMS is less useful than a lot of things. It doesn't mean that crypto is the solution, or that it won't get replaced by something more useful.
As for "cash on-ramps", it just shows that there's nothing inherently useful in crypto that can't be solved by other means. These are centralised points that people explicitly trust to handle their money. It's nothing new, and once societies stabilise they inevitably re-discover/re-implement all the rules and regulations you're so dismissive of (such as KYC rules).
> If you look into this, such as the Gates Foundations research on payments and remittance in bankless societies, you’d see that crypto
Let's see what Bill Gates himself says about crypto: https://www.reddit.com/r/IAmA/comments/ut7yj0/im_bill_gates_...
Say this is true, how amazing would that be for countries without existing banking infrastructure to easily access it?