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We can provide banking service to 8 billion people on this planet. It is obvious that we can't do that with traditional banking we have. It is just not scaling.
by m00dy 5y ago
We can provide banking service to 8 billion people on this planet. It is obvious that we can't do that with traditional banking we have. It is just not scaling. Price of cryptos are speculative but the underlying technology a.k.a blockchain which gives users ownership over certain digital assets is here to stay.
- azth 5y agoPlus, no reason that the major cryptocurrencies (Bitcoin, Eth) won't become stable over time as things become more mature. Secondly, many of these articles seem not to mention that the major crytpocurrencies are a way out of government money printing. That's a huge plus for some of us. We now have a proper deflationary currency that is not affected by interest backed debt (which is a major sin in Islam, Judaism, and Christianity, that's over 50% of the world's population), and that the government is not able to devalue by printing more money at a whim.
- pintxo 5y agoWhy would traditional banking not scale to 8b people?
- m00dy 5y agoBecause, generating public/private key pairs for 8 billion people will/is taking a lot less time then average time that is taken for onboarding/kyc procedure of each bank that exists in each nation state.