Say if one stays in a state that is heavily sanctioned, e.g., north korea, iran and these states do not have crypto exchanges, how can one leverage etheruem to create economic transaction mechanism in the absence?
Decentralised crypto exchanges?
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You can try to find someone who is willing to accept or spend ether. Then only when someone needs to convert their ether into a government-issued fiat currency does the need for an exchange arise. If a baker needs 0.1 ether of wheat to bake, produces 0.2 ether’s worth of bread, eats half of that, and sells the rest back to the farmer, there is no net money changing hands and thus no need for an exchange. (I am, of course, ignoring gas fees) – lungj Jul 28 '18 at 22:07
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Right, right. I think to really achieve an egalitarian world we need to get this working in sanctioned countries. Would be cool if there are people who working on this. Would love to collaborate – Nathan Aw Jul 29 '18 at 04:47