It sounds like a waste of processing power. How about they just start a bank, issue currency with some insurance against losses from people they don’t trust? To what gain is this system in a collapsing infrastructure (other than tax avoidance and cash hoarding)? Having deposits in reputable banks somewhere won’t be at all valid when those banks can’t be reached. Promising value in crypto depends on cybernetic infrastructures that are very far from foundational needs and resources. It all sounds great until a blind guy weighs the clothes that the king takes off.

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