Congratulations on missing the point. This technology enables regulatory arbitrage and empowers cross border transactions where enforcement of the rule of law in one country is weaker than the other. Go back and listen to this podcast and learn something from the person who invented blockchain:

Somebody in the United States can pay somebody in Russia and vice versa and it has nothing to do with the politics that’s happening between Russia and the US that’s distinguishing factor of Bitcoin if you didn’t care about that feature then you probably shouldn’t be using Bitcoin

Unfortunately there’s there’s a lot of new money that came in to Bitcoin that doesn’t have a good appreciation of this and they made a lot of money in it so they think it’s really cool but their view of the world is still the visa and PayPal view of the world where we really just want to optimize transactions per second and we don’t really think about security that much … if something goes wrong you can just call the FBI that is (paypal’s) ultimate security protocol.— Nick Szabo

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Incentives architect for TandaPay

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