And before you tell me that this doesn't cover all currencies and countries: Ok, but it just shows that this is not technology problem (i.e. can be done with existing and better tech than blockchain), but a business model / regulation problem.
And before you tell me that this doesn't cover all currencies and countries: Ok, but it just shows that this is not technology problem (i.e. can be done with existing and better tech than blockchain), but a business model / regulation problem.
This transfer may take days, as they say on their website. Even slow bitcoin takes only 10ish minutes, or 60 minutes if you want to be safe. More modern blockchains can take seconds.
That doesn't mean blockchain is always the answer, but you're comparing apples and oranges.
What if they just support cryptocurrencies that are "environment friendly", would that change your mind about that point?
Money will always enable scammers and fraudsters, there is simply no way around that. Every single network that handles money (including Visa), enables scammers and fraudsters, even more so than cryptocurrencies.
Based on your last point, I feel like the environment point you raise is just trying to add more juice to your argument while in reality, your argument is mostly based on not liking cryptocurrencies emotionally.
I don't like cryptos because of their negative externalities, not the other way round :-)
As long as the majority of crypto transactions have these negative externalities, any action that promotes crypto is bad. As software engineers, you should already know that blockchain tech is inferior to existing technologies, and that it won't be relevant in the long-term. So why help promote cryptos now?
I agree with other commenters: stay away from cryptocurrencies. Aside from the negative environmental externalities, there are, in practice, very few legitimate uses for them. Your supporting them might bring undue shady business that could jeopardize the service. Also, cryptocurrencies are just really stupid.
Amazing that you can send almost any amount you want (up to £1 million) to another county and that it can arrive in just a matter of days.
Plus there is the added benefit that sanctions and restrictions for specific countries/individuals can be imposed when neccessary to prevent war.
This blows blockchain out of the water.