Earlier quoted context omitted.
I do think there is at least one problem that crypto currencies solve better than the status-quo: sending money internationally. It has less regulation than the official channels. Can have better privacy. Can be cheaper. Can be faster. Compared to Western Union, international wire transfers and the likes, sending money home for foreign workers (remittance), seems to be much better with Stellar, or other low-fee crypt…
I see you're using the word "can" a lot to cover up the fact that it is not actually doing those things. And less regulation means more crime - the only reason the ransomware epidemic exists is cryptocurrency. Remittance is also not actually cheaper with cryptocurrency if you actually count all the fees, but most likely more expensive than Western Union. Cryptocurrency delivers none of what it promises. It only deliv…
I also tried not to pass judgement. I understand that less regulation leads to more crime (and I think we are seeing evidence of that). What I'm trying to say is that this solves a problem for people who want less regulation.
With respect to simplicity and fees; If I want to send money to a family member in Botswana, I can do that in about a minute with something like Stellar. The transaction fees are negligible (<1 cent). Converting to fiat to actually use it, does carry some fees (roughly 2 x 0.1% on Binance). I couldn't get an exact quote from Western Union, but I remember it being a lot more expensive and a lot more hassle (granted, it's been over a decade since I last used them)
