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November 21, 2022, 06:54:31 PM |
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We came a long way in decentralizing all aspects of banking, like we can write smart contracts to pay interest, we can do loans and borrow money and trade shitcoinA for shitcoinB with anyone without intermidary
Weather it be good or not but what we havent done is the decentralization of cashing out crypto. yes there are bitcoin ATM's and we can use centralized exchanges to cash out aslong as they dont go bust but this really limits us, because we all need cash and if its just to throw it at strippers, because really everything else i can pay with crypto when using some 3rd party, but the cash part is still totally centralized.
So if elon Musk can send satelites into space so everyone can have internet, why cant he put up cash boxes where people can withdraw money with crypto(pay through metamask electrum etc..)
and you dont need to have a bankaccoutn.
If elon Musk were to put in every major city 500 - 1000 of these "cash Boxes" he could do that in every city around the world and can refill on his own for the next 200 years - without having to cash in the crypto he got for selling cash. (Numbers are obviously made up) we have vending machines for everything, for gold, watches, cigarrettes vapes, even meat and groceries where I live, but why not for cash?
And even if elon musk isnt filling up all cash boxes themself, we can decentralize them, everyone gets a share of crypto that where taken in for the % amount of cash that was supplied. So everyone can cash his paycheck take x amount of it and put it in a cash box and when someone else needs cash they pay with crypto which goes to the guy that supplied fiat for the cashbox.
Therefore we can decentralize banking and cashing out and noone would be dependent on banks. Cause you dont need an ID to cash out, you pay with crypto for cash, if you have no crypto you get no cash.
And lets say for every dollar you cash out you pay in total 1.05 to 07% in crypto, things like that can be worked out But the idea is to decentralize cash dispensary.
An uber for fiat/cash money
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