You hit on a point that bothers me in all the discussions of cryptocurrency. Not having access to banks is a real issue; quicker bank transfers a less critical, but still real concern. Neither of these need cryptocurrency to be solved, and neither of them are solved by cryptocurrency; so why are they used as arguments?
Concrete example: I have an app on my phone that allows me to instantly transfer funds from my bank account to other people using a QR code with no transaction cost. That was part of the promise of cryptocurrencies and is still trotted out as a potential benefit - but this system does not use cryptocurrency at all and has none of its downsides.
If a problem is solved without cryptocurrency, and without cryptocurrency's crippling problems, cryptocurrency clearly wasn't the answer to begin with.
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You hit on a point that bothers me in all the discussions of cryptocurrency. Not having access to banks is a real issue; quicker bank transfers a less critical, but still real concern. Neither of these need cryptocurrency to be solved, and neither of them are solved by cryptocurrency; so why are they used as arguments?
Concrete example: I have an app on my phone that allows me to instantly transfer funds from my bank account to other people using a QR code with no transaction cost. That was part of the promise of cryptocurrencies and is still trotted out as a potential benefit - but this system does not use cryptocurrency at all and has none of its downsides.
If a problem is solved without cryptocurrency, and without cryptocurrency's crippling problems, cryptocurrency clearly wasn't the answer to begin with.