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You don't need a globally redundant ledger to store your coffee purchases. The benefits of a blockchain over traditional financial systems is borderlessness and
by trophycase 9y ago
You don't need a globally redundant ledger to store your coffee purchases. The benefits of a blockchain over traditional financial systems is borderlessness and censorship resistance. Nobody is stopping you from buying coffee, why would you need a blockchain?
- dajohnson89 9y agoExpand from coffee to hamburgers, to gas station purchases, to groceries, etc, and soon you have ruled out a major percentage of the consumer economy. Not a deal breaker, but lots of hype for crypto is how it can replace fiat transactions wholesale or damn near it.
- quickthrower2 9y ago> The benefits of a blockchain over traditional financial systems is borderlessness and censorship resistance. That's a subjective viewpoint. I might just want to earn my salary in Bitcoin and spend it, like a currency.