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I get instant settlement of cash transfers in my country. No blockchain was required. Switching to blockchain isn't any easier than simply improving the existi
by freddie_mercury 4y ago
I get instant settlement of cash transfers in my country. No blockchain was required.
Switching to blockchain isn't any easier than simply improving the existing system.
- everfree 4y agoReally? Running open source software "isn't any easier" than convincing your government to overhaul their banking infrastructure?
- freddie_mercury 4y agoYes, making small improvements to the existing system is much easier than getting every single financial institution in your country to switch to a blockchain.
- everfree 4y agoFor blockchains to be a useful product, it is not a prerequisite for "every single financial institution in your country" to switch over to using them.
- TimJRobinson 4y agoHow about when you sell shares? Still a 2 day minimum almost everywhere in the world, takes me about a week from sale to money in my bank account. Have you ever attempted to send shares overseas? 2 weeks minimum, up to 3 months in some of my cases, and endless paperwork and emails. On blockchains it takes less than a minute. All of finance should be fast and globally accessible, money is only the most basic use case.