Lebanon Banks have now been closed indefinitely. This shows a legit use-case for Crypto: Cutting the middlemen.

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by COINS NEWS 14 Views

There has been some drama regarding Lebanon Banks in the past weeks. Due to rising inflation and prices and with bad sentiment toward their government, people in Lebanon were starting to increasingly withdraw their money from the bank. Causing banks to shut down for three days because they could not hold up with demand or did not want to give people their money. Now they are shutdown "till further notice".

Either way, this is very messed up that you just lose access to your own money that you trusted the bank with. And this is the one usecase that will always remain for Crypto: Cutting the middlemen. This is also the most important use-case for Crypto and one of the reasons it was made.

With crypto you don't have to trust any middlemen of you have done it right (not entirely on exchanges), you will always, 24/7, have access to your money.

submitted by /u/partymsl
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