Why crypto ?
Michael Chobanian, the head of Ukraine’s biggest crypto exchange KUNA, recently explained in an interview with Bloomberg why Bitcoin and other crypto assets’ fast time-to-settlement is a crucial property in urgent times of crisis:
“It takes 10 minutes for a Bitcoin block to close. And it takes about three days to do the same thing through the banking system… So three days vs. 10 minutes—therefore, we prefer crypto. And you can understand that time is money for my country right now. So if we can save a minute, it means that we can save at least someone’s life, so we are trying to speed up the process and crypto is helping us here.”
Coin Metrics’ State of the Network: Issue 149 (substack.com)