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Tell me how someone living in Rural Africa can get any useful access to the Ethereum blockchain, without accepting a significant loss of expected benefits. Fra
by ppf 6y ago
Tell me how someone living in Rural Africa can get any useful access to the Ethereum blockchain, without accepting a significant loss of expected benefits.
Frankly, if we're going to be broadly racist and otherwise discriminatory about this, I would say that Ethereum and other blockchain systems are vanity projects for first world, white, city dwellers, with very little relevance for the rest of the world.
- dmihal 6y agoWell I have plenty of friends in Argentina, and Ethereum is helping them live through hyperinflation. Their currency is plunging, their banking system is corrupt, so these are their options: 1. Trade Pesos for USD on black market exchanges. Hide cash in safes & under mattresses 2. Purchase Dai or other stablecoins. Keep money in multi-signature vaults, earning interest through lending protocols. Plus, cryptocurrencies allow many of them to work for foreign companies and get paid directly in stablecoins.
- endori97 6y agoUSD isn't that great because there's so much counterfeiting
- lentil_soup 6y ago100% agree. I come from a country with strong currency controls, US/EU sanctions, no access to international credit cards or money, and an almost 1000% inflation rate. No one cares about crypto currencies, everyone wants hard cash US Dollars, money you can actually use on the streets and hold in your hands. You don't want money that adds another layer of indirection and confusion that you somehow need to trust will get you groceries next time you go to the shops.