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It improves that process in a disintegrating third world country, which many of us may find ourselves in within our lifetimes.


That's nice and I hope it works out for them, given how difficult it can be to get physical objects properly tracked in a digital system when the people responsible for entering data into the system can be corrupt. But getting the third world digitized is the very opposite of the "very interesting innovation" that everyone else in this thread keeps referring to; it is just making some thing that already exists again. That is not innovation, that is an incremental improvement at best.

For those of us living in prosperous Western countries (and let's not kid ourselves, that is at least 90% of HN), the biggest attraction of cryptocurrencies seems to be "if you buy this, it might be worth more in the future". Which is nice, but hardly innovative.


If you wake up one day and find that your society is disintegrating with that speed, you're going to need food, water, ammo - all of which are tradeable - and a good support network - not a bunch of fake computer monopoly money tokens.


You don't wake up into a disintegrating society, you wake up into a society that's a little worse every day for decades. See: other highly developed countries that are no longer considered highly developed.


There are very few highly developed countries that fell from that status without being at war.

Argentina is the only one that comes to mind.

Planning for the apocalypse isn't really planning, but I guess we all need hobbies.


That’s still pretty fast.


How does it improve the process in a disintegrating third world country right now? Lay it out, which steps in the process does it improve or replace? Do you know anyone who's utilized it that way, or are there case studies?


No it doesn’t and no you won’t. Where is this fatalism coming from?


Paying the barest amount of attention to the news and being repeatedly confronted with the myriad ways that once-first-world countries are crumbling.


> It improves that process in a disintegrating third world country,

A disintegrating third world country will not be able to enforce anything. So, you've transferred your money and got a key to a non-existent place.

Good luck with your "improved process".




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