[Summary] E01 - Cryptocurrency For International Trade - KYB Crypto Kang’s Prophecy ( ex-Korbit CTO )

in #blockchain7 years ago (edited)

The use of cryptography in international trade increases.

  • When trading, bit coins are used instead of US dollars.
  • Why? Significant fees and complex procedures currently exist
  • Cryptocurrency reduces the role of intermediaries such as banks.
  • For example, the cost savings can be effectively utilized by repairing oil tankers
  • People prefer essentially cheaper than expensive ones
  • There is no need to pay a high price for remittance services in trade.
  • Cryptocurrency is definitely advantageous in terms of procedure, price and speed.
  • The fee for the bit coin transfer is not proportional to the amount of money but is proportional to the size of the data.
  • Therefore, even if you transfer a large amount, the commission still ranges from $ 10 to $ 20.
  • These fees are burdensome in everyday life, but they are very low in the trade industry.
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