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I really think for normal people the chance is close to zero... Walmart’s accounts have to reconcile to their bank’s, the bank’s accounts need to reconcile with
by stephen_g 9y ago
I really think for normal people the chance is close to zero... Walmart’s accounts have to reconcile to their bank’s, the bank’s accounts need to reconcile with their accounts at the central bank... There are checks and balances, fraud tends to be found out eventually when things don’t match, and at the end of the day, 99% or the population don’t understand proof-of-work or proof-of-stake anyway...
I think some of the problems of the current system are overstated (dare I say some are even imagined?) by crypto-enthusiasts. There’s no doubt that blockchain is fascinating and useful technology, but the idea that it’s a perfect and complete replacement for a crumbling system just doesn’t actually map to reality...