This seems cool but what I don't get is A) How does giving an individual eth help them buy groceries at their local, physical market that probably is cash-only and B) why use this instead of a local bank account (apart from saving on banking overhead)?

Just trying to learn more about ethereum

laughing__cow•9 yr. ago

my guess:

corrupt systems, etc. infrastructure is really bad in the developing world (from personal experience). perfect use case for taking out the third party especially when they cannot be trusted and instead taking advantage of the transparency and neutrality offered by the blockchain.

I'm also going to guess that they won't be using "eth for the grocery" per se but more unkowingly just by using the platform - likely using a custom dapp with maybe a custom token type mechanism to track disbursements.

Necroduss•9 yr. ago

I'll give you an example of the army troops in Congo and how they get paid. Crates of cash are dropped by a helicopter at one place... No need to explain further, you get the idea. I'd rather get paid in crypto I cannot spend than not get paid at all.

mommathecat•9 yr. ago

They're not giving them ethereum. They're handing out cash. Read the article.

sacrilegious•9 yr. ago

I did. It's not clear to me how eth facilitates this

gdruva•9 yr. ago

As i understand, the money transfer was done by using ETH and then sold in the destination country to get local currency. They could use Western Union, or a bank, but these companies would ask a higher fee than exchange.

RohirrimV•9 yr. ago

You know, we're so invested in cryptocurrencies that I often feel we forget just how AWESOME they are!!!!

This really is amazing. Crypto isn't just a fun investment; it can really transform people's lives.

rysade•9 yr. ago

These people sure don't look like they're hungry.

-7

[deleted]•9 yr. ago

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