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I think he is absolutely right about his dystopian view on smart contracts managing stuff but forgets about that one trusted party we're trying to avoid the mos
by ruduhudi 9y ago
I think he is absolutely right about his dystopian view on smart contracts managing stuff but forgets about that one trusted party we're trying to avoid the most here, that costs us the most money and that we need the least in real life:
Banks. That's what we neet the blockchain for.
- Barrin92 9y agoI never understood that sentiment. What exactly is bad about banks? Banks are a trusted middle-man that controls, insures and manages my transactions, and in contrast to arcane technological blockchain solutions is actually a legally liable entity. I also don't understand how banks cost me more money than bitcoin. A bank transaction costs me very little to no money, a crypto-currency transaction is extremely expensive.
- jstarfish 9y agoFor better or worse, banks are treated like the Ticketmaster of the financial industry. The new-age solution to this seems to be sticking it to them by conducting all your business with scalpers.