if bitcoin does become a global currency between the world. how would things like loans, renting ourt apartments work? what if somebody doesnt pay back what he’s owed , can they aftually track to verify that he has not paid?
Not really sure if the bitcoin will ever become the global currency but Im pretty sure there are multiple ways to overcome this little problem. If the time comes to pay our loans or monthly EMI then we will surely have a system developed by that time which will act as an escrow to pull out the money from payers wallet. May be a program which will keep the users private keys in their holdings so that they won't run away with it. May be a signed agreement between the two parties which will make them pay it on time no matter what?