Cryptocurrencies can’t handle natural disasters like Hurricanes, Tsunamis, Volcano Eruptions , Floods and so on … In such events only Fiat is accepted.
Could Cardano have a solution to this? If so … I’m all ears.
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Hi @Classborn
When you say
Do you mean only cash is accepted?
I presume this is because the electronic systems go down. If so then some fiat exchange mechanisms would also be unavailable.
I believe many cryptocurrencies are exploring the ability to work off-chain using temporary peer to peer networks, with any transactions being validated once access to the chain is available.
I presume that this is something Cardano will explore at some stage after the core capabilities are delivered. Especially considering the African focus and the limited access to internet there.
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Maybe not Cardano, maybe the world is changing. I think that mobile communications, and therefore internet connectivity, will be re-established ever more quickly after future disasters. It may soon get to a point where cryptocurrencies bounce back into access almost as quickly as FIAT currencies. How much cash do you have in your pocket these days?
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Yup, maybe peer to peer satellite transfers …