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Nothing stops people from building centralized organizations ( "banks") providing _reversible_ transactions on top of an immutable payment platform.
by nileshtrivedi 9y ago
Nothing stops people from building centralized organizations ( "banks") providing _reversible_ transactions on top of an immutable payment platform.
- Retric 9y agoBanks can't survive on immutable currency. They get out competed by those who take more risks, until the risk takers fail. And FDIC style insurance does not work with a fixed currency, so you don't want to use these banks.
- sanswork 9y agoIf you're going to build a central organization on top why bother with the overhead of a distributed immutable ledger below that?