The Dawn of International Bitcoin Trade

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After a decade of launching, bitcoin may well be starting to serve the cash function at some scale across the world for global trade. For countries like South Africa for example, which have significant capital controls, you’d think bitcoin could easily be a useful tool. Here it would be more small players. If Turkey and South Africa for example want to do trade, then they can just go through the official channels and fill all the paperworks which would probably get approval. But if a small South African business wants to import figs from Albania, then it would probably cost them a lot to do all this paperwork, so they can just send bitcoin. The latter has been the primary story for bitcoin international trade. Individuals or small businesses gaining efficiency by bypassing official or traditional channels usually to the benefit of the economy because there is a bit too…

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