Something like privacy.com letting you signup for subscription services but backed with Monero.
this post was submitted on 30 Nov 2023
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So these services would be paid in Fiat, but you would pay Monero. Do I have that right?
Yes. So this engineering service can certainly negotiate with vendors to accept Monero directly and cut out any credit card fees.
I don't think anything is "needed." Monero is a currency, ideally it will be used for everything a currency is used for.
Right, but as of now, we are missing a lot of things like maybe Monero trucking or shipping of some sort, perhaps.
General esctow service to allow trustless transactions (goods and setvices) via multisig. Want to trade a physical game or goods for another between imternet randomes? Do an escrow. Many use cases..
Easy way for youtubers etc to accept donations. Everyone is bloody using patreon.
Xmrbate
I think we need a monero based encyclapedia. Like a wiki fork where instead of a wikimedia foundation, a company being created to manage the software stack, lies a decentralized XMR network powered encyclopedia engine.
Not really sure if insurances are a great use case as they always involve your personal info and only make sense in a legal framework surrounding it.
But at its core insurance is to protect from a major loss by paying a small amount. You could probably do it with very little personal info if you were willing to forego any personalization discounts. As it is you have to convert to fiat to pay it.
Payouts cut into the profit margins, so insurance companies will pay as little as they can get a way with legally. When paid anon in monero, it's even easier for them to take the money and run (or operate as a ponzi scheme or whatever else).
On the other hand the insurance company must ensure that their customers claims are correct, so that they do not get scammed. I'd assume they demand proof, which does require a lot of personal info.
Hmmm, true. I would expect that insurance of some sort would have to exist, though, because otherwise people would be on the hook themselves for extremely expensive things like cancer treatment or a car accident, and Lord knows the majority of people do not have the kind of money to cover something like that.
What is "monero?" That's a term I haven't heard before. But it sounds good to me - I guess?
Thanks for the info. I'm not up on cryptocurrency terms (obviously) but if it can work then it sounds great to me.
It really is great for everything online. For example this lemmy instance is 100% donation funded and hosted on a provider that accepts monero.
My only concern with monero (or any cryptocurrency) is, who is backing it with some sort of reserve assets. If it's not government backed then who or what is in place to guarantee it.
No one guarantees the dollar value, but if you think about it no one guarantees the price for other things either. Other currencies, gold, silver, commodities - everything has some volatility. Gold is valuable because it is rare, does not deteriorate and all pure gold is equal. Industrial use exists of course, but it is minor in the grand scheme of things. Good crypto can have similar properties as gold, with the added benefit of being usable even for small amounts. I'd strongly advice against trading and speculating on a higher dollar value, but topping of a wallet with a few dollars worth for spending can be very useful.
I'd still like to have a room full of gold bars in any case. But thanks for the information, it's very appreciated!