Rant #11: Celo replace Currency Exchange?

By zpaul_2020blu | Rant Page | 13 Sep 2020


Please let things like Celo replace the Currency Exchange.

I've been back in my hometown for a little over a week or two, hence the absence, and there are more cash checking places here now then I last remember. But its understandable! Places like Chicago are a breeding ground for exploitation of the under banked. Companies with 20-25% interest of loans, cash checking charges, under the table deals....its a shady place and that's before you talk local politics. The most disturbing thing was seeing a friend carrying around $600 in cash because he has to pay his car insurance for his job through a local Currency Exchange. YIIIIIKKKKKEEEEESSSS! You ever walked around with that much cash in the last 5 years? He had to check pockets, his back pack, and his car every couple minutes to ensure it was still there.

What does this have to do with Celo? I see Celo, along with other crypto tokens, replacing the need for that. Mainstream capabilities of delivering Celo from one person to another and the ability to quickly convert to cash are a necessity. Hopefully Coinbase will try to recognize this and charge less to no fees for limited exchanges of Celo. Someone recently put me onto Binance in a comment on another post so I'll be signing up there (thanks for the tip) due to slightly lower fees. Fees......fees are the things that make the currency exchange exploitative.

They make loans exploitative. Want people to switch? Emphasize the low fee nature of Celo and platforms that allow $ to token exchange for the low to transfer currency around without having to physically go somewhere, wait in line, pay $3.99-$4.99+ just to handle their money.

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zpaul_2020blu
zpaul_2020blu

COVID-19 layoff using free time to blog past experiences, personal stories, advice, and more. Chicagoan that's found a home in Texas trying to make it and keep a positive mindset while finding the comedy in life's situations!


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