I vouched your comment, it appears yours are dead by default. Being cut off from the financial system I'm interested in hearing your opinion on what that is like.
Unfortunately I'm afraid to venture too far into how/why I think it would work and being Virgil Griffith'd, and intentionally leaving it as a pure speculation on a hypothetical.
Crypto is cut-off from the international financial system but can be bridged by P2P. DPRK could allow, for example, exchanges without KYC that accept US customers. There is "sky high" demand for such a product (as in trillions). Russia used to have eBTC and it was one of the highest volumed exchanges.
My guess is that despite the DPRK appearing to be independent (nuclear et al), it really is not. NK envisaged starting not just an exchange but a whole "deregulated/free" city but China prevented them from doing that.
A random US Citizen cannot wire USD to NK. Their bank is not going to allow it. Their credit card company is not going to allow it. If you try to mail physical USD the USPS is going to confiscate it [1].
So, this leaves a US Citizen buying crypto on a KYC exchange and then transferring it to the NK exchange. Why? Just keep the crypto on the KYC exchange at this point.
ty6853|1 year ago
Unfortunately I'm afraid to venture too far into how/why I think it would work and being Virgil Griffith'd, and intentionally leaving it as a pure speculation on a hypothetical.
csomar|1 year ago
My guess is that despite the DPRK appearing to be independent (nuclear et al), it really is not. NK envisaged starting not just an exchange but a whole "deregulated/free" city but China prevented them from doing that.
They do have other free enterprises, for example see: https://en.wikipedia.org/wiki/Rason_Special_Economic_Zone
lesuorac|1 year ago
A random US Citizen cannot wire USD to NK. Their bank is not going to allow it. Their credit card company is not going to allow it. If you try to mail physical USD the USPS is going to confiscate it [1].
So, this leaves a US Citizen buying crypto on a KYC exchange and then transferring it to the NK exchange. Why? Just keep the crypto on the KYC exchange at this point.
[1]: https://pe.usps.com/text/imm/il_015.htm#ep1639364