Finance is broken but DeFi isn't the solution(codeofhonor.substack.com) |
Finance is broken but DeFi isn't the solution(codeofhonor.substack.com) |
Yet DeFi doesn't really help at all imo. I wish all this energy went into making the system we have better, instead of trying to replace it with DeFi.
I do this on sites that support it. Spinning up a burner wallet for a site is easier than spinning up a burner gmail or temporary account.
Is privacy really just a moral benefit? Though I admit that it definitely isn't a benefit that the mainstream cares about, which is unfortunate
Yes, but in this post I really mean "banking". As someone born in a rural area in a 3rd world country, I've seen how people struggle to interact successfully with the banking system. To this day, my documents are a mess but are finally in order enough.
I would love for the promises of DeFi to happen. Cheaply send remittances to my relatives? No more navigating KYC laws that always want the particular document I don't have, and not worry about PayPal just randomly shutting off my account and taking my money?
But DeFi doesn't really do this imo. As I put it in the post, it's like trying to solve loneliness with Omegle. It makes sense kinda but just isn't the right path forward.
I'm not sure if there are PayPal brokers but it's probably possible to use a blockchain to verify fund transfers and keep track of trusted and untrusted brokers. You might also just be able to create a volunteer network. I don't use my PayPal account for much anyway and wouldn't mind being a broker if there were instructions for what to do.