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Topic: Could the Cryptonote technology replace Offshore Banking? (Read 448 times)

legendary
Activity: 1442
Merit: 1018
If you do have Offshore Banking, how do you get funds in and out of that without a paper trail currently?

I am curious, partly because how-ever it is done might also serve or be adaptable to moving funds into and out of anoncoins, or any other coins for that matter. ?

If it is customarily currently done by having a mule/bagman fly offshore smuggling as many $100 bills as he/she can manage to sneak past customs, maybe having the offshore bank turn it into anoncoins for you might be useful so the offshore bank itself does not know about every payout you make with the funds between handing them over to them and sending another mule/bagman to them to get them back as fiat?

-MarkM-


Just because it's offshore banking doesn't mean it has to be some sketchy operation. There are many reputable offshore banks that are actually just a branch of domestic banks.

For purposes of this exercise, these aren't the banks that the majority of "private wealth" are stored in.
hero member
Activity: 616
Merit: 500
Crypto Knight
If you do have Offshore Banking, how do you get funds in and out of that without a paper trail currently?

I am curious, partly because how-ever it is done might also serve or be adaptable to moving funds into and out of anoncoins, or any other coins for that matter. ?

If it is customarily currently done by having a mule/bagman fly offshore smuggling as many $100 bills as he/she can manage to sneak past customs, maybe having the offshore bank turn it into anoncoins for you might be useful so the offshore bank itself does not know about every payout you make with the funds between handing them over to them and sending another mule/bagman to them to get them back as fiat?

-MarkM-


Just because it's offshore banking doesn't mean it has to be some sketchy operation. There are many reputable offshore banks that are actually just a branch of domestic banks.
legendary
Activity: 2940
Merit: 1090
If you do have Offshore Banking, how do you get funds in and out of that without a paper trail currently?

I am curious, partly because how-ever it is done might also serve or be adaptable to moving funds into and out of anoncoins, or any other coins for that matter. ?

If it is customarily currently done by having a mule/bagman fly offshore smuggling as many $100 bills as he/she can manage to sneak past customs, maybe having the offshore bank turn it into anoncoins for you might be useful so the offshore bank itself does not know about every payout you make with the funds between handing them over to them and sending another mule/bagman to them to get them back as fiat?

-MarkM-
legendary
Activity: 1442
Merit: 1018
The fundamental problem regardless of coin type comes from moving funds that are currently stashed away back into exchanges with an obvious paper trail. Anyone already having the luxury of offshore finances isn't going to risk creating a trail just to move their funds into something that may or may not be more suitable for their privacy needs than they presently have. Besides, the liquidity isn't there for such a task anyway.
full member
Activity: 177
Merit: 100
What reason would they have to replace offshore banking? Currently they only offer more risks than the already existing systems.
hero member
Activity: 888
Merit: 500
Could Cryptonote Coins like Bytecoin and Boolberry replace Offshore Banking?

Or what do you Guys think could be the most Killer Application for Anoncoins?
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