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I'll give a very simple example that shows the power of blockchains. I needed to receive a very large sum of money from a foreign country. Half was paid in cry
by dreit1 9y ago
I'll give a very simple example that shows the power of blockchains. I needed to receive a very large sum of money from a foreign country.
Half was paid in cryptocurrency, and half was paid in cash via the traditional banking system.
It took 3+ weeks for the money to make it through the banking system.
It took 15 minutes for the cryptocurrency to arrive. I don't get how anyone can not see the obvious merit to this system
- hyder_m29 9y agoAnd how long to convert the cryptocurrency into a usable currency? As long as cryptocurrencies are not widely accepted, it isn't much useful. Also, there's a good reason for the checks and balances that take time in traditional banking.