I think another big way we can improve the money and skills system is by eliminating the unnecessary and costly middlemen in a lot of the areas around money. Western union is a prime example. They charge insane fees to send money to areas where it really doesn’t cost them much any longer. It could have been justifiable in the 90’s and early 2000’s but now they are just extorting people. That area pisses me off, how they can get away with that shit. Regulatory capture though..
With the gaming aspect of it, I think it ties in though to the above. Companies pay other companies to find talent to do what they want. With investors buying things directly such as Splinterlands and then looking for someone to use their assets for them for a cut of the profit, I think there’s huge opportunities to eliminate the middlemen in that scenario. Maybe I’m thinking of it wrong and we are too small to have the issues of large scale investors but I think at least one company doesn’t have to pay another company to look for someone with the skills they want in gaming. I invest, post or talk to some folks, about asking someone to play for me and they give me their skills, I give them the assets and we both win without fees. They get a cut of the proceeds and things jive well!
I think XLM is already doing that in Africa and Asia - they are enabling people to send money cheaply, they are investing XLM in startups etc etc
I don't know much about all of the other projects, but soon it is going to be the way charities move their money too.
I am so impressed by how XLM (Stellar) works - it is very similar to XRP (Ripple) but these guys have a mission. The protocol is fast and rather cheap.
I use it if I want to move coins between exchanges, works great, here is my article about it: https://ecency.com/hive-167922/@ghua/transferring-crypto-around-the-cheap-way
I have been using LTC at times for the same reason :)
I used to do it as well few years ago, now it is too expensive :P
Yeah I have heard of them but it's still fees and middlemen. It's a huge step in the right direction what they are doing though! The fees and speed are far better than traditional finance can do.
For sure. Not only that, it can take days, where in that time they are earning on it too. My brother paid I think 13% fees to send my daughter a couple hundred dollars of r her birthday a few years ago. That is insane.
I don't think you are thinking of it wrongly. I think most people are though, as they believe that the current conditions today are the only conditions. A couple years ago, there was no DeFi, no crypto cards, no gaming, no nothing... Five years form now, the products and services that fill this space will be very diverse and they will start being increasingly divergent from what is possible anywhere now.
Yeah the delays are something I forgot about. How ridiculous lol.
Thinking of 5 years from now is wild, to think of all that's happened in just the last year alone!
Sadly, even with the coming of Decentralized finance, many people are still depending on their party institutions for carrying out their financial activities. You couldn't have imagined that people will prefer bitcoin ETF to Bitcoin itself.
Most times it feels that these third party financial services are part of the obstacle preventing the full adoption and use of defi projects and cryptocurrency.