As UK Cash Infrastructure Collapses, Big Opportunity For Crypto
Todays video is another one of those recorded in the hotel episodes. An opportunity for the UK to adopt crypto to solve a problem benefits all crypto investors so allow me to share this news and some of my thoughts.
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thanks for the video CC!
One other thought on this - it will be difficult for a business to supplant something like cash because the government shoulders all the costs of producing and verifying cash.
Recently speaking to my Dad on how technology is transforming every aspect of life e.g. Need other to switch utility provider online. He has me and other siblings to support him, eventhough he can check emails . Question how others of his generation will struggle. Some even still don't how to use computer and this is where I see a major concern will remain going towards crypto using a regular payment
Nice analysis. Some countries have already moved to rid themselves of cash which is a disservice to the older folks, if not everyone given the lack of just alternative. The blockchain has a long way to go in this sphere as it needs to be easy and eventually, ubiquitous. I agree this need is perfect for blockchain as it would reduce fees and speed things up.
Certainly the opportunity for a change, for crypto to emerge as a solution to this type of problem is significant; but I found myself caring more about your insight re: those left behind (presumably being those without access to crypto or the tech to allow them to not be dependent on cash). In one sense, we need the ubiquitous problem to scream for attention so those with the skills will help solve it. In the meantime, I worry for the economically or educationally underprivileged, seniors or anyone who doesn't have access to the system and are dependent on cash. I feel like I'm arguing against myself. I want the growth, but I have no desire to succeed without also expending effort to bring others along with me.
At the end of the day, I'm just overthinking your insight. I know few people who are aware of crypto and less that have a sense of trust regarding it. So I'm rooting for education concomitant with adoption so no one is denied access to a need because there relying on the old system (cash).
sure, even I come late to get my nigth dose of crypto news ....
Nice to see you back. Vow, the decashing of society seems pretty devoloped in the UK.
Cash is almost dead, surprised it's still used by so many.
I really like using cash for tipping. I also like the control feature of going "out on the town" and setting a limit before as to what I'm planning on spending. That being said, it would be really cool walking up to the bar and tapping the phone and seeing a light shine or light up with colors, after giving a crypto tip to the wait staff. Putting a limit on your phone as a budget for that nights entertainment. It all can be done with out cash and still garner then same end result. It's up to us in the future to make it work....
Is crypto up to the challenge of replacing the privacy, convenience and acceptance of cash?