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* Example 1. Look at Uniswap, it's an unstoppable exchange that is a tiny program in terms of lines of code on the blockchain. The team is tiny. And the thing s
by vvpan 6y ago
* Example 1. Look at Uniswap, it's an unstoppable exchange that is a tiny program in terms of lines of code on the blockchain. The team is tiny. And the thing sees $2 billions of volume every day. Imagine, say, stock being digitized onto a trustless system like this. Every exchange out there, clearing houses, market makers, millions of jobs (not a good thing, but just a reality) would become obsolete. You just don't see the complex process of how transactions happen in real life because there is a massive system that's evolved over many decades to make it happen. Also note that majority people in developing countries don't have access to a bank, much less investment vehicles so the "non-distributed ledger" cannot even reach them. But internet can!
* Example 2. Alexey Navalny is a Russian opposition politician. What the state practices routinely is coming up with fake court cases and freezing assets of his team, their families and even their neighbors. People in US in Europe are very trusting to the banking system because they do not have thing like these happen to them routinely. A counter-example is my beloved Argent wallet. Argent is an example of a "contract wallet" with social recovery. In other words it's a place to store tokens (for examples ones that represent USD) that comes with a complex system of security measures. And there are no middlemen to this system. Nobody can freeze the account, or even steal your phone and try to transfer the account to them, they would hit a hard limit writ into the chain. These systems are still evolving but I gladly and proudly make use of them now.