3 ms·
Oh I don't know let me list a few: * International transactions easier than regular currencies * No third-party seizure * Security and control (user auto
by soheil 6y ago
Oh I don't know let me list a few:
* International transactions easier than regular currencies
* No third-party seizure
* Security and control (user autonomy)
* Anonymity, privacy and no tracking (just make sure your wallet ID is not to your personal ID)
* No risk of chargebacks (better for vendors)
* Transparent and neutral (how much did you trust banks in 2008?)
You may not value some of the above and indeed some vendors may not, but I don't think you can say that is true about everyone.
- PragmaticPulp 6y agoIn practice, companies have zero desire to be their own banks. The liability would be massive, and the risk of a rogue employee walking away with the private keys is just too high. It's a two-edged sword: Those same upsides are just as attractive to potential embezzlers as they are to honest companies. In an era where we hear about database breaches and security incidents on a daily basis, do you honestly believe that companies would do better by operating their own cryptocurrency wallets? So what happens in practice? Companies would still use banking services, just like they always have. Banks would "hold" the cryptocurrency and handle transactions for them.