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For things like these Hawala systems are existing ( http://en.wikipedia.org/wiki/Hawala http://en.wikipedia.org/wiki/Hawala ). Really a great tool to cut out ba
by stfu 13y ago
For things like these Hawala systems are existing ( http://en.wikipedia.org/wiki/Hawala http://en.wikipedia.org/wiki/Hawala ). Really a great tool to cut out banks and government control in financial transactions. I wish this somewhat would find its way into the digital age.
- hendzen 13y agoRipple [0] has some similarities to a digital Hawala system. [0] - https://ripple.com/ https://ripple.com/
- junto 13y agoInteresting project. Has it got any traction?
- tixocloud 13y agoThere doesn't seem to be any information about who's behind this? I can see OpenCoin Inc but their site seems to be down. HN effect at work perhaps?
- rfugger 13y agoRipple is run by Jed McCaleb, founder of Mt.Gox, and Chris Larsen, founder of Prosper.com.
- cynicalkane 13y agoYes, and almost all Minneapolis banks will refuse to do business with the hawalas, and hawalas have to move money, and they are also subject to US regulations. I'm not making up issues, you know. Inability to move money to Somalia is a real thing. Here's one link: http://www.startribune.com/local/minneapolis/136396028.html http://www.startribune.com/local/minneapolis/136396028.html
- hippich 13y agoBitcoin IS Hawala =) Just standardized and widespread.