Could the Cryptonote technology replace Offshore Banking?

[mrkavasaki]

Could Cryptonote Coins like Bytecoin and Boolberry replace Offshore Banking?

Or what do you Guys think could be the most Killer Application for Anoncoins?

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[kekek]

What reason would they have to replace offshore banking? Currently they only offer more risks than the already existing systems.

[oblox]

The fundamental problem regardless of coin type comes from moving funds that are currently stashed away back into exchanges with an obvious paper trail. Anyone already having the luxury of offshore finances isn't going to risk creating a trail just to move their funds into something that may or may not be more suitable for their privacy needs than they presently have. Besides, the liquidity isn't there for such a task anyway.

[markm]

If you do have Offshore Banking, how do you get funds in and out of that without a paper trail currently?

I am curious, partly because how-ever it is done might also serve or be adaptable to moving funds into and out of anoncoins, or any other coins for that matter. ?

If it is customarily currently done by having a mule/bagman fly offshore smuggling as many $100 bills as he/she can manage to sneak past customs, maybe having the offshore bank turn it into anoncoins for you might be useful so the offshore bank itself does not know about every payout you make with the funds between handing them over to them and sending another mule/bagman to them to get them back as fiat?

-MarkM-

[cryptopaths]

If you do have Offshore Banking, how do you get funds in and out of that without a paper trail currently?

I am curious, partly because how-ever it is done might also serve or be adaptable to moving funds into and out of anoncoins, or any other coins for that matter. ?

If it is customarily currently done by having a mule/bagman fly offshore smuggling as many $100 bills as he/she can manage to sneak past customs, maybe having the offshore bank turn it into anoncoins for you might be useful so the offshore bank itself does not know about every payout you make with the funds between handing them over to them and sending another mule/bagman to them to get them back as fiat?

-MarkM-

Just because it's offshore banking doesn't mean it has to be some sketchy operation. There are many reputable offshore banks that are actually just a branch of domestic banks.

[oblox]

If you do have Offshore Banking, how do you get funds in and out of that without a paper trail currently?

I am curious, partly because how-ever it is done might also serve or be adaptable to moving funds into and out of anoncoins, or any other coins for that matter. ?

If it is customarily currently done by having a mule/bagman fly offshore smuggling as many $100 bills as he/she can manage to sneak past customs, maybe having the offshore bank turn it into anoncoins for you might be useful so the offshore bank itself does not know about every payout you make with the funds between handing them over to them and sending another mule/bagman to them to get them back as fiat?

-MarkM-

Just because it's offshore banking doesn't mean it has to be some sketchy operation. There are many reputable offshore banks that are actually just a branch of domestic banks.

For purposes of this exercise, these aren't the banks that the majority of "private wealth" are stored in.