Quiz​

The hawala system is a private money transfernetwork rooted in places without banking system due to religious or socialreasons. It is typically used where physical transmission of items ischallenging. When sending money to family living abroad, I give money to an"organization" in Korea, and my family gives a voucher (code) to anorganization overseas to receive the money. Both organizations simply need tosettle their books. Even if someone steals the voucher, the hawala operatorwill pay the holder of that voucher and adhere to the principle that paymentsare made even if hawala operators in any countries go bankrupt or flee. In thehawala system, it's crucial that the voucher serves as law and those paymentsare made according to rules. However, those who betray trust within the hawalanetwork are relentlessly punished. There are some drawbacks such as an accidentduring transferring or forgerying the voucher, and the network is maintainedthrough force and power. In contrast, Bitcoin cannot be replicated or forged,and there's no worry about being stolen during transmission. Using acryptographic system also allows equal division and combination. Mostimportantly, without relying on violence and power, Bitcoin can be described asa civilizational culmination because it possesses finality in transactions sothe value itself moves across the globe at the speed of light.