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But none of that needs Blockchain as a technical solution. E.g. my bank allows worldwide free SWIFT transfers in many many currencies. It's not hard to find ou
by ulfw 5y ago
But none of that needs Blockchain as a technical solution.
E.g. my bank allows worldwide free SWIFT transfers in many many currencies. It's not hard to find out someone's name, bank account number and SWIFT code et voila... money sent. There's plenty of other solutions from Paypal to (Transfer)Wise etc.
Saying "it can be done in 20 seconds with crypto" is really only half the truth. At the end of the day we all need fiat money. So there's always a conversion step (if not two!) between fiat -> crypto -> fiat money. I can't pay my baker in Cardano nor my hair stylist in Fantom.
- neiman 5y ago> Saying "it can be done in 20 seconds with crypto" is really only half the truth. At the end of the day we all need fiat money. Fair point.
- RandomLensman 5y agoUsing some kind of crypto as a more internal transfer and accounting unit seems like a fair use case. And then on/off ramps to traditional when needed. Could likely be done simpler, but then why not (there are payments solution providers that keep everything internal etc.).
- democracy 5y agoI think the crypto shills for the "bank the unbanked" and "international money transfers" never really did any international money transfers