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Crypto Capture of Foreign Aid

100 points · 37 comments · bko

  1. pj_mukh · · focus · HN ↗
    I know nothing about crypto, but wasn't one if its selling points that its "digital gold" for people without stable fiat currencies?

    You send aid to a drought-stricken farmer to some sub-saharan region with ample cheap data but no (stable) banks, how...are they supposed to store the money?

    1. satya71 · · focus · HN ↗
      World Bank doesn’t typically give money to people. They fund development projects.
      1. cucumber3732842 · · focus · HN ↗
        This. All the perverted incentives and money wasting inefficiency of federal grant funded local projects but for poor brown people half a world away.
        1. yutter4 · · focus · HN ↗
          That's very naive of you to think most of it isn't ending up in Israel one way or another.
      2. r721 · · focus · HN ↗
        >They fund development projects.

        So they fund wages among other things?

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