A Little Comparison of the Crypto System and the #banking System
▻https://hackernoon.com/crypto-and-the-banking-system-966981b5cbc?source=rss----3a8144eabfe3---4
Superior value and better valuesCrypto currencies are a superior product to nation state currency and the fractional reserve banking system, for these reasons:lower cost (transaction costs much lower than bank transfers)more convenient (you transact directly, cuts out the bank/credit card company middlemen).fixed supply.Greater alignment with our better human values.The crypto system is digital technology. Traditional banking/payments is analogue technology, that cannot be upgraded; the entire architecture is antiquated 1970s technology cobbled together in a fit of absent-mindedness. Crypto is your smart phone. The banking system is like using a Blackberry. The payments system is like using a rotary dial fixed line phone.AdoptionThe biggest obstacle to crypto currencies is access to the (...)