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Those businesses are succeeding exactly because of the lack of banking/identification access in Africa. They use phones as the axis of identity, which people do
by darawk 7y ago
Those businesses are succeeding exactly because of the lack of banking/identification access in Africa. They use phones as the axis of identity, which people do have (somewhat) ubiquitous access to. However that doesn't make it easy to access the US stock market, which is why this guy's concept would have been useful to them.
- arcticbull 7y agoYou can't access the US stock market without SEC regulation thanks to the Securities and Exchange Act of 1934. No amount of blockchain is going to change that.
- darawk 7y agoAccording to US law, you mean. However, nothing stops a foreign entity from creating derivatives pegged to the price of US stocks. Which is exactly what this guy was attempting to do.
- arcticbull 7y agoOwning stock conveys beneficial ownership share, pays dividends, etc. This is strictly worse.
- darawk 7y agoWorse than what? Their alternative is owning nothing at all. And derivatives are just fine - they can be pegged to the dividend adjusted value of the asset.
- arcticbull 7y agoIt's not an investment, it's gambling. I'd suggest that's probably not the best use of capital for what you identify as an impoverished group.
- darawk 7y agoHow exactly is a single-stock future any more gambling than investing in that stock directly?
- deleted 7y ago[deleted]