Not to mention how much more vulnerable bank money is due to it's centralization. Power and internet connectivity aside it also relies on one single server, often multiple single servers with multiple parts involved, for instance, a bank, a card processor and some other middle men who all want their cut. Particularly during international trading.
Here in Sweden the largest grocery store chain with over 100 stores where forced to shut down for days, because of one server going down in Florida, that's a fucked up dependency right there. And it's not just the legacy banking system, their whole inventory tracking system relied on one company which relied on that one single server, so they couldn't even take cash.
Imagine instead with crypto, in a fully decentralized blockchain economy, where all systems are decentralized and platform independent, that chain would have had their own servers in their own stores, if power goes out, no problem, they just have a set of printed QR code which the customer could scan and send the payment too, then they register all the items manually as soon as the power comes back. Internet goes out? no problem, mesh networks, wifi, Bluetooth, 4G/5G and many other protocols solves that problem, especially when the servers are in house.
Not to mention how much more vulnerable bank money is due to it's centralization. Power and internet connectivity aside it also relies on one single server, often multiple single servers with multiple parts involved, for instance, a bank, a card processor and some other middle men who all want their cut. Particularly during international trading.
Here in Sweden the largest grocery store chain with over 100 stores where forced to shut down for days, because of one server going down in Florida, that's a fucked up dependency right there. And it's not just the legacy banking system, their whole inventory tracking system relied on one company which relied on that one single server, so they couldn't even take cash.
Imagine instead with crypto, in a fully decentralized blockchain economy, where all systems are decentralized and platform independent, that chain would have had their own servers in their own stores, if power goes out, no problem, they just have a set of printed QR code which the customer could scan and send the payment too, then they register all the items manually as soon as the power comes back. Internet goes out? no problem, mesh networks, wifi, Bluetooth, 4G/5G and many other protocols solves that problem, especially when the servers are in house.