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Can anyone link to a clean writeup of one crypto app or use case (ex speculation/laundering) with strong PMF, on track to win a decent market? Honest question.

Can anyone link to a clean writeup of one crypto app or use case (ex speculation/laundering) with strong PMF, on track to win a decent market? Honest question. This writeup cites remittances, but last time I looked into it, crypto was a) a minor player in remittance markets, and b) is growing slower than many incumbents and new entrants, so that feels like a weak example. I haven't looked into banking in Vietnam, but I would guess there is a similar story (ie crypto is a niche, not on track to serve any sizable portion of unbanked Vietnamese customers, weaker success than several non-crypto mobile apps). I'm in the market for a nice writeup on some market where crypto is actually winning.

mattdesl 4y ago
Not related to money/finances, but I wrote about Farcaster here which uses blockchain as a decentralized namespace registry for a social media protocol: https://mirror.xyz/mattdesl.eth/_F9vQAUeeBB9AJNwMNaE_G5kTcl1dFMIY3NjzImJ7PE https://mirror.xyz/mattdesl.eth/_F9vQAUeeBB9AJNwMNaE_G5kTcl1...
latchkey 4y ago
American who spent 2016-2020 in Vietnam. Banking is atrocious there. Imagine only having about $1500 worth of FDIC insurance and the banks regularly go belly up because of corruption and making bad investments in property. Crypto is big in Vietnam, entirely as a cultural thing. They love games and they love finding creative ways to make money. They really got scammed well in the ICO days. DeFi didn't get big because they were still butt hurt from ICO days and because well, they don't understand the concepts in DeFi. Collateralized loans and providing liquidity just went over most people's heads. That said, there are a lot of unbanked people there. Women in the north still put gold fillings in their teeth to store wealth "safely". They also have great inexpensive 4/5G everywhere and smart phones. There is a huge younger generation. Most people use cash and the largest paper(plastic) note there is about $22, which makes larger purchases a struggle. It is ripe for innovation and digital P2P payments. The huge blocker is the government, which will need to be in control of all of this. Otherwise it'll all be black market dealing.

mattdesl 4y ago

Not related to money/finances, but I wrote about Farcaster here which uses blockchain as a decentralized namespace registry for a social media protocol: https://mirror.xyz/mattdesl.eth/_F9vQAUeeBB9AJNwMNaE_G5kTcl1dFMIY3NjzImJ7PE https://mirror.xyz/mattdesl.eth/_F9vQAUeeBB9AJNwMNaE_G5kTcl1...

latchkey 4y ago

American who spent 2016-2020 in Vietnam. Banking is atrocious there. Imagine only having about $1500 worth of FDIC insurance and the banks regularly go belly up because of corruption and making bad investments in property. Crypto is big in Vietnam, entirely as a cultural thing. They love games and they love finding creative ways to make money. They really got scammed well in the ICO days. DeFi didn't get big because they were still butt hurt from ICO days and because well, they don't understand the concepts in DeFi. Collateralized loans and providing liquidity just went over most people's heads. That said, there are a lot of unbanked people there. Women in the north still put gold fillings in their teeth to store wealth "safely". They also have great inexpensive 4/5G everywhere and smart phones. There is a huge younger generation. Most people use cash and the largest paper(plastic) note there is about $22, which makes larger purchases a struggle. It is ripe for innovation and digital P2P payments. The huge blocker is the government, which will need to be in control of all of this. Otherwise it'll all be black market dealing.