4 ms·
The problem it solves is that it enables two parties to exchange digital values automatically and without interference. The problem manifests itself in full vi
by decentralised 8y ago
The problem it solves is that it enables two parties to exchange digital values automatically and without interference.
The problem manifests itself in full view in situations where citizens are asked to leave their money or possessions in a country before they are allowed to leave or in situations where the inflation rate makes surviving on a fiat currency next to impossible (ie: Venezuela).
In the western world, the problem of interference in your ability to do commerce with whoever you wish might be harder to detect but just recently SWIFT decided to enact the US government's capital controls on Iran for EU companies, despite the EU having declared they would stand by the agreement... For a EU based company or individual there is now very little chance to do legal commerce in Iran, Venezuela, Cuba, North Korea, Syria, Myanmar and a few other countries because of the US's influence on the money markets.