AI/ML barrier to entry is far simpler and vastly user friendly compared to crypto. Instant value return or gratification from ML products (GTPs and rest) is far more mainstream friendly.
Another view is the "loss" factor. Nobody, thus far, has has had their funds stolen or lost using ML products. I understand content creators and those who, unwillingly, contributed knowledge to learning systems did get circumvented but i'm talking about users/customers. Compare that to the negative stigma of crypto frauds and stereotypical association to illegal transactions.
Apples vs. rotten oranges in my opinion!
You need exchanges to do anything useful in crypto. And as we've seen most recently in the FTX case, all the exchanges are wretched hives of scum and villainy.
Not really. There are plenty of decentralized exchanges which are proven, reliable, auditable, generally used by many without issues.
see: https://uniswap.org https://curve.fi/ https://1inch.io
It's the centralized exchanges, which are more akin to traditional financial institutions whose records are not on a publicly visible blockchain but rather private databases or... apparently spreadsheets... which fall victim to the same issues we have seen in the past in the traditional financial world.
Or you could simply use a traditional wire transfer and currency would be converted automatically. USA and Italy exchange millions of dollars every day - it's nothing special.
- You will need to get permission from your bank to send international wire transfers (sign forms/agreements). - takes a long time (in the order of days) - expensive (~$50-$75 for outgoing international wire, and $25-$50 to receive it).
The forms are for KYC activity, and agreements on what the limitations of liability are. The delays are to validate that the transfers are handled and secured, and ideally can't be charged back. The fees are to cover the costs of the people who do the work for that.
It's not perfect, but it's quite a bit better than the checks and balances that exist for folks who get hit by a scam and are convinced to go to a crypto kiosk and pay a scammer because they have been frightened by a threat to a loved one, or are taken in by a scammer about services being cut off, or desperately paying off a ransomware demand in the hopes that your business or personal records won't be leaked or published.