Crypto solves the following problems: a) anonymous online drug...

October 12, 2023 at 9:04 AM  ·  Comment — Christine Peterson's post  ·  View on Facebook  ·  Markdown source

Crypto solves the following problems: a) anonymous online drug purchases (Silk road and successors) b) inflation (many countries with hyperinflation, India suddenly declared all cash worthless) c) currency controls (Chinese can't take more than $50 K out of the country, US can't take more than $2500 out without declaring) d) financial censorship of political dissidents (Wikileaks, Canadian truckers) e) financial censorship of disfavored industries (gun dealers, sex workers, drug dealers) f) KYC/AML honey pots (Equifax leak, IRS leaks, etc) g) lack of banking access in poor countries h) vendor chargebacks i) government surveillance f) business surveillance g) lack of access to early stage venture capital investment Those are just the problems related to the financial industry. Crypto also helps solve a) censorship resistant video sharing (LBRY) b) decentralized DNS (Handshake, ENS) c) decentralized semi-permanent storage (Arweave) d) anonymous, censorship resistant web browsing / communication (Oxen, Nym) e) venture capital fundraising (Ethereum) f) prediction markets (Polymarket, Augur)