Welcome to my Blockchain blog (Blockg?)
I’m a 21 year old American living in Switzerland. Lately, I’ve been obsessed with Blockchain, and the many ways it could make my life better.
Because I’m American, I have an American Bank account (duh). However, I am living abroad in Switzerland. As a result, I am paying lots of fees: international transaction fees, ATM cash withdrawal fees, not to mention the unfavorable exchange rate (the $ is tanking stemming from Trump-driven uncertainty).
However, this isn’t my first struggle with the costs of international banking. Last year, I worked for a Geneva-based hedge fund and was paid in cash for the first few months- because I couldn’t open a Swiss bank account due to my American nationality. I was finally able to open an account at UBS in Geneva, but it took lots of time and effort. Then I had to immediately cancel my account upon my return to the US, and wire transferring my savings from Switzerland back to the States was very costly.
In a nut-shell, I am frustrated. I am frustrated because I am experiencing the inefficiencies of the international banking system. And it’s costing me money! (P.S. I am not rich).
Enter: cryptocurrencies, blockchain technology, innovation
With cryptocurrency, a simpler way of payment emerges. I believe in this world of simplicity and efficiency. Where people can travel to far away places (hassle free!) and fall in love with foreign cultures.
I believe in a world where creativity flows, thanks to innovative payment systems, which instead of hindering transactions between buyers and sellers, facilitates them.
Viva la blockchain!