I mean, it defeats the point of crypto for you, which is a replacement for the US dollar in speculation. It has enormous utility to these states, which are using it to negotiate currency transfers without the US Swift system. It’s literally just for use by governments, and reversing the transactions would be a diplomatic incident. Maybe you’re on to something about why hostile parties could not use it, though. I don’t know much about crypto technically like I said before.
I don’t know if the State Dept being able to claw back coins counts as “reversible” to you but it effectively allowed them to steal much of the proceeds from the drug selling.
There are already private blockchains used between banks and states. XRP is basically an entire cryptocurrency made for that purpose. Pretty sure BRICS has already floated the idea about making their own currency for this purpose, and potentially on a blockchain, but I think they’re not ready to pull the trigger on ending the petrodollar for whatever reason.
I mean, it defeats the point of crypto for you, which is a replacement for the US dollar in speculation. It has enormous utility to these states, which are using it to negotiate currency transfers without the US Swift system. It’s literally just for use by governments, and reversing the transactions would be a diplomatic incident. Maybe you’re on to something about why hostile parties could not use it, though. I don’t know much about crypto technically like I said before.
I don’t know if the State Dept being able to claw back coins counts as “reversible” to you but it effectively allowed them to steal much of the proceeds from the drug selling.
There are already private blockchains used between banks and states. XRP is basically an entire cryptocurrency made for that purpose. Pretty sure BRICS has already floated the idea about making their own currency for this purpose, and potentially on a blockchain, but I think they’re not ready to pull the trigger on ending the petrodollar for whatever reason.