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What is interesting with stablecoins is that they are on the blockchain, which acts as a decentralized, uncensorable ledger which doesn't require you to tell a
by Saline9515 1y ago
What is interesting with stablecoins is that they are on the blockchain, which acts as a decentralized, uncensorable ledger which doesn't require you to tell a bank clerk what is written inside your wedding ring to be allowed to buy a second hand BMW in Poland.
- baq 1y agobut if you buy a BMW in Poland on a stablecoin chain, everybody will know.
- djrj477dhsnv 1y agoOnly if they happen to know the connection between you and the seller's wallet addresses and your respective identities. Almost all the crypto I have is from p2p or freelancing. Very few could connect my identity and my wallets.
- Saline9515 1y agoMaybe, but at least no one will block the payment.
- topranks 1y agoIndeed. Blockchains are for breaking the law. I think it would be wholly better, in democracies, if we changed laws we didn’t like than tried to create technology to evade them.
- Saline9515 1y agoThe law says that banks need to do AML/KYC, a blockchain is not a bank, it's decentralized. Besides, being able to break a law can be good, when such laws have little to do with crime prevention, and more about feeding an industrial complex that earns from those frictions. And buying a car is not illegal as far as I know. The main proponent that dictates the regulations, the FATF, is a shady, unregulated body that is used for political and economical repression.
- wbnns 1y ago> a blockchain is not a bank, it's decentralized Not all blockchains are decentralized, it depends on the consensus mechanism