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Speaking as a Kenyan, I see it pretty high in the list of users of cryptocurrency, but it has one of the most accessible and inclusive financial systems in the
by abenga 4y ago
Speaking as a Kenyan, I see it pretty high in the list of users of cryptocurrency, but it has one of the most accessible and inclusive financial systems in the world (mobile (fiat) money). Everyone I know/interact with has a mobile money wallet and uses it from day to day for real financial transactions. Everyone I do know that is active in the crypto world is speculating in search of out-sized investment return.
One country (Trinidad and Tobago) where I speak to a friend who is often complaining about dollar shortages and government-imposed forex controls is not on the list.
I don't think cryptocurrencies are currently being used to solve the problems the article is assuming it does as much as the article's thesis suggests.
- FabHK 4y agoVery good point. And frankly, when some Argentinean uses crypto to circumvent capital controls and get a better rate for his incoming payments than his fellow law-abiding citizens, that doesn't strike me as a use case "solving a problem" either. A lot of the "oh you're only anti-crypto because you're so financially privileged" inclusion is pretty disingenuous, if not predatory.
- 8324679543574 4y agoI don't understand why you don't think that's solving a problem. The Argentine government stealing people's money and forcing them to use a currency it deliberately destroyed is a huge problem. Allowing more people to escape the government's exploitation is good. You are either privileged enough to not live in Argentina or privileged enough to belong to the political elite who are exploiting the rest of the population if you don't think that's a problem. Even if you have no money to circumvent capital controls with, you are still harmed by their existence and benefit from the system being undermined.