and kind of kill the original use case, which was to just make financial services accessible to everyone,"
What does that even mean? Anyone above the age of 18 has access to financial services. I had a bank account before that age because I was working.
Here's a question. If someone doesn't have access to financial services, how are they supposed to buy/use a crypto currency? Last I checked, you can't scan a dollar bill and tell someone, "Yup, here's the dollar. Now give me that fraction of a bitcoin."
And cryptocurrency changes that how? By giving them a virtual wallet to store virtual cash instead of using an actual wallet with actual cash? What's the difference? Is there a real bank that magically appears for them, or does it simply make tangible assets intangible? How are they digitizing their cash to buy crypto if not through a bank? A brick-and-mortar broker who takes a big chunk?
When a (shall we say) modern cryptocurrency is used with smart-contract technology it's possible to supplant traditional banking services, which include deposits and loans. If unbanked people 'bank' using cryptocurrency then they can participate directly in investment (to loan seekers). Finance is becoming democratized.
There is no likelihood man can ever tap the power of the atom.
-- Robert Millikan, Nobel Prize in Physics, 1923
Say what? (Score:2, Insightful)
and kind of kill the original use case, which was to just make financial services accessible to everyone,"
What does that even mean? Anyone above the age of 18 has access to financial services. I had a bank account before that age because I was working.
Here's a question. If someone doesn't have access to financial services, how are they supposed to buy/use a crypto currency? Last I checked, you can't scan a dollar bill and tell someone, "Yup, here's the dollar. Now give me that fraction of a bitcoin."
Re:Say what? (Score:1)
Re: (Score:2)
Re: (Score:1)