Myanmar's government in exile throws support behind launch of crypto-based bank

In the Southeast Asian country of Myanmar, the exiled government is betting on cryptocurrency to help it overthrow a military junta as it backs the Saturday launch of the nation's first crypto-based bank. The National Unity Government (NUG) was formed in exile after a February 2021 military coup d'état that resulted in the …

[Anonymous Coward]

Frustrating fluctuations

It would be very hard to plan anything effectively when the value of your money in the bank/wallet swings wildly vs a dollar/euro/pound being worth today exactly what it was yesterday and will be tomorrow.

[Jan 0]

What's good about this exiled government.? Isn't it just a watered down SLORC?

[Anonymous Coward]

SLORC was the name of the military junta in the 90s, so no, it definitely isn't.

[Sorry that handle is already taken.]

Won't be long before they get hacked or fat finger a transfer and lose it all

[Claptrap314]

Who

will risk using said currency under the current junta?

I'll admit that this undertaking has the potential to actually skirt some of the inherent limitations of coin. 1) it's dealing with a small economy, so the CAP theorem might not destroy it's utility. 2) It's straight-up challenging a (mostly shunned) national government, so resistance to technical attacks (especially pump-and-dump) is going to have to be built in from the start.

However, it's not at all clear that 2) above can be satisfied without CAP meaning that you need an hour or more to clear.

Moreover, possession of the code to use such coin is prima facie evidence of rebellious behavior.

Yeah, I don't see this ending well.