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I think the rate of technological change will force the SEC regulatory system to adopt an RFC process open to the public (bypassing Congress), similar to IETF,
by idibidiart 9y ago
I think the rate of technological change will force the SEC regulatory system to adopt an RFC process open to the public (bypassing Congress), similar to IETF, and I think Direct Democracy is an inevitable outcome of such disruption.
- rahulrrixe 9y agoThat's a really strong statement. RFC structured this way because they needed people to contribute whereas SEC and Congress don't want people involvement.
- idibidiart 9y agoThe regulatory process is not scalable relative to the rate of technology driven disruption. It cannot scale. It can either fall behind or adapt to change, IMO.