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Emin Gun Sirer pointed to nbcnews which stated: “Virtual currencies are sometimes associated with lawlessness, but the reality is they’ve become a regulated business with safeguards against money laundering.”
He also stated, the fact that financial sanctions are part of the discussion is why we need crypto.
Community Reaction: Avalanche is neutral. Please don’t speak politics.
Let’s be honest. If crypto is adopted, do you think Putin would behave as per the law, He will continue invading like the old days. Decentralization gives power to bad actors too and centralized bad actors are better than decentralized ones in my opinion.
I did not expect it from Emin or I hope it is just my misunderstanding.
You misunderstood. He’s just saying that is the reason why we need an alternative way of keeping our money safe.
People like you will make this world a better place, professor. We will show the world that Crypto and Blockchain will bring freedom and peace.
How do you figure? He is implying avoiding economic sanctions is a good use case for tyrants.
I don’t think that’s what it means. The Professor refers to the importance of cryptos when people run out of resources to survive due to financial sanctions. Just one example of how important other sources of money are.
Couldn’t the equivalent of sanctions be achieved with Avalanche by banning a party from a permissioned Subnet?
People just saying: Emin only cares about money. What he’s basically saying is that relying on banks is not that efficient sometimes. Hell, even paying on crypto saved me a few times.
Posting pictures of peace to improve your social media reputation won’t help Ukraine and it won’t stop the war. Let that sink in.
It is important to understand that cryptos are crucial in these critical times. More on the issue of sanctions.
People must understand the importance of owning our own money. Banks and financial institutions are a great impediment to our freedom.
Exactly, many people think that financial sanctions solve something, but they say it without thinking about the consequences that this would bring to the citizens. Just proposing it only indicates that centralization dominates us. We need crypto.
Looks like some people here forget what it means to be an individual. Look, some people need to make a living during tough time and cryptocurrencies can be a strong solution, that’s it.
Fair point but what happens to future situations, when CBDCs are being used on decentralized networks? Sanctions work but how so with decentralization?
Financial sanctions have always been part of centralized systems. The same happened last week in Canada, with the government freezing protestors’ bank accounts.
Imagine all those families with blocked accounts; we need external transactions. I respect your vision, professor, I understand it, and I agree. We cannot rely only on the STATE.
People can’t really understand the true usefulness of crypto and how it works in extreme situations like some people are living today
