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AIUI, it's because the expensive part is not basically updating an internal database when money changes hands (no sending of BTC required), the expensive part i
by quirkafleeg 10y ago
AIUI, it's because the expensive part is not basically updating an internal database when money changes hands (no sending of BTC required), the expensive part is, to take WU as an example, operating half a million brick and mortar locations in 200+ countries.
- 3pt14159 10y agoWell what I'm saying is that it doesn't have to be the internal database. It can be a completely decentralised system. I send you $50 and you open an app and just walk up to the first money guy that you see on the street. Why do we need physical banks?
- quirkafleeg 10y agoWhat do you mean by a "money guy" on the street?
- aianus 10y agoRegulatory capture. Your money guys would each need a money transmitter license which costs millions to obtain.