The States Allowed Banks To Issue Crypto Dollars Backed By Fiat Bucks

The States Allowed Banks To Issue Crypto Dollars Backed By Fiat Bucks

Why crypto-fiat- that's cool:

1. Instead of banking agreements, you can write smart contracts.

2. It is easy to do on the machine what now requires manual labor:
— direct debit,
- locking/unlocking,
- imposition and removal of encumbrances,
- money transfers,
- payment chains,
— automatic collection of money from a heap of counterparties or spraying it over the heap
— digital securities

And all this without the wild fees of payment systems and banks.

It is clear that this is not as Zen as the Cue Ball. But it should be borne in mind that it takes humanity 20-30 years to master a new technology, and the cue ball is only 10.

Therefore, first, some half-measures are needed so that people get used to the new topic. And then gradually expand the Overtone window

© text by George Goognin

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P.S.
Only some of the posts are on smartlab, the rest are in telegram.
(some SmartLab people don’t like it when they put a link to a telegram in a post, if you’re one of them, sorry)