/biz/ - Business & Finance

>>27412584
>And that’s just one extreme example, there are all kinds of examples around providing insurance, providing the ability for people to sell goods to each another, all of which depends on a system of contracts that works. And the unfortunate reality in many parts of the world, is that there is not a system of contracts that works enough to enable inflation resistant bank accounts available to everybody. That doesn’t work enough that’s resistant to financial fraud and insurance, and therefore people don’t have insurance. And insurance is basically if people are able to continue living their life pursuing their economic destiny, or not, depending on what happens with the weather, what happens with some other event that they don’t have any control over. So I think that it will accelerate globalization by allowing people to conduct commerce over the internet in a highly trust minimized way. I think it’ll completely change the domestic financial environment of certain countries, and you already see this because certain places are adopting cryptocurrency as a common currency between people within that country.