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India, Indonesia, and China are already using WeChat, GoPay, PayTM. I'm not sure what Bitcoins or Libra can offer that e-wallets don't already provide. And thes
by djpr 7y ago
India, Indonesia, and China are already using WeChat, GoPay, PayTM. I'm not sure what Bitcoins or Libra can offer that e-wallets don't already provide. And these e-wallets, unlike crypto, work well with existing gov't regulations.
Some of them, like GoPay works with the Indonesian gov't to provide loans for micro-small businesses. Since they have the data of business transactions they can forecast loan repayments.
> By the way, what are they all planning to do if the scaling efforts of real cryptocurrencies succeed and the dream of digital cash becomes a reality?
My fear is WeChat and GoPay will get there first well before cryptos.
- ilaksh 7y agoThe differences between digital cash and an e-wallet are as follows: Digital cash is a public system. It is not run by a monopoly company. It is auditable by all. Fees are reasonable. Wallets are entirely in your control. Wallets are private. Companies and governments can't control your money. The system is secured by strong crypto.