Matt Levine at Bloomberg summed this up well: "It's not enough to get your machines to agree. You have to agree on what your machines should agree about." You'

Matt Levine at Bloomberg summed this up well: "It's not enough to get your machines to agree. You have to agree on what your machines should agree about." You're exactly right. People forget money is a contract business for a reason. Even if it were feasible to remove government regulation, the enormous complexity of financial needs and marketplaces would require a huge amount of human oversight. When things go right, transactions are simple. The problem is they frequently go wrong, sometimes in unanticipated ways where liability gets fuzzy.