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You can actually interact with some crypto projects over SMS, and at the moment there are countries where the majority of txs are SMS mobile credit swaps. The i

by exdsq 4y ago

You can actually interact with some crypto projects over SMS, and at the moment there are countries where the majority of txs are SMS mobile credit swaps. The issue is these don’t offer things like account histories, you can’t access financial products like loans (i.e micro loans) and remittance payments are hard to do from abroad in this way. But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading. And yes, crypto is starting to catch on out there as an alternative.

dmitriid 4y ago
> You can actually interact with some crypto projects over SMS Keyword: some. Also, banking over SMS was a thing long before crypto. > But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading. Then it will be swallowed by something smilar to AliPay. Not by crypto.
- exdsq 4y ago
  How do you sign up to AliPay?
  - dmitriid 4y ago
    Quote, emphasis mine: "Something similar to AliPay"
    - exdsq 4y ago
      Crypto adoption is rising pretty fast in these places. I know you dislike that, but it’s a fact - the tech does work for those usecases. SMS is factually less useful than crypto, there are cash onramps available in the most obscure places, and it helps remittance payments that something similar to AliPay doesn’t. Almost any company that comes into this space has to follow KYC which is basically impossible for the cash societies without these necessary docs. If you look into this, such as the Gates Foundations research on payments and remittance in bankless societies, you’d see that crypto is a great solution. There’s a whole world out there in the crypto sphere outside of shitty NFTs and scams :)
      - dmitriid 4y ago
        > SMS is factually less useful than crypto, there are cash onramps available in the most obscure places SMS is less useful than a lot of things. It doesn't mean that crypto is the solution, or that it won't get replaced by something more useful. As for "cash on-ramps", it just shows that there's nothing inherently useful in crypto that can't be solved by other means. These are centralised points that people explicitly trust to handle their money. It's nothing new, and once societies stabilise they inevitably re-discover/re-implement all the rules and regulations you're so dismissive of (such as KYC rules). > If you look into this, such as the Gates Foundations research on payments and remittance in bankless societies, you’d see that crypto Let's see what Bill Gates himself says about crypto: https://www.reddit.com/r/IAmA/comments/ut7yj0/im_bill_gates_cochair_of_the_bill_and_melinda/i986zfz/?context=3 https://www.reddit.com/r/IAmA/comments/ut7yj0/im_bill_gates_...

by exdsq 4y ago

dmitriid 4y ago

> You can actually interact with some crypto projects over SMS Keyword: some. Also, banking over SMS was a thing long before crypto. > But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading. Then it will be swallowed by something smilar to AliPay. Not by crypto.

exdsq 4y ago
How do you sign up to AliPay?
- dmitriid 4y ago
  Quote, emphasis mine: "Something similar to AliPay"
  - exdsq 4y ago
    Crypto adoption is rising pretty fast in these places. I know you dislike that, but it’s a fact - the tech does work for those usecases. SMS is factually less useful than crypto, there are cash onramps available in the most obscure places, and it helps remittance payments that something similar to AliPay doesn’t. Almost any company that comes into this space has to follow KYC which is basically impossible for the cash societies without these necessary docs. If you look into this, such as the Gates Foundations research on payments and remittance in bankless societies, you’d see that crypto is a great solution. There’s a whole world out there in the crypto sphere outside of shitty NFTs and scams :)
    - dmitriid 4y ago
      > SMS is factually less useful than crypto, there are cash onramps available in the most obscure places SMS is less useful than a lot of things. It doesn't mean that crypto is the solution, or that it won't get replaced by something more useful. As for "cash on-ramps", it just shows that there's nothing inherently useful in crypto that can't be solved by other means. These are centralised points that people explicitly trust to handle their money. It's nothing new, and once societies stabilise they inevitably re-discover/re-implement all the rules and regulations you're so dismissive of (such as KYC rules). > If you look into this, such as the Gates Foundations research on payments and remittance in bankless societies, you’d see that crypto Let's see what Bill Gates himself says about crypto: https://www.reddit.com/r/IAmA/comments/ut7yj0/im_bill_gates_cochair_of_the_bill_and_melinda/i986zfz/?context=3 https://www.reddit.com/r/IAmA/comments/ut7yj0/im_bill_gates_...