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virtually all of those services will still have to exist under crypto. Regulatory frameworks will still exist, centralized entities will provide lightning chann
by paulmd 6y ago
virtually all of those services will still have to exist under crypto. Regulatory frameworks will still exist, centralized entities will provide lightning channels to small-fry actors, firms will still host servers to execute trades based on the network, etc.
- tal8d 6y agoYes, but they will be dealing with a currency that has mathematical guarantees - which changes things entirely. Imagine a scenario in which self driving cars are not only the norm, but they've achieved a perfect safety record due to an open source, formally verified, code-base. In that scenario, do you think the National Highway Traffic Safety Administration still needs 600 employees and a 900 million dollar budget? I have no doubt that it would still exist, but it would be addressing an infinitely simpler problem - and the reduction in resource requirements would cut it down to a skeleton crew that would operate much like stubcode in the wake of a refactor.
- arcticbull 6y ago600 employees is nothing. That’s a skeleton crew already. Yeah they’d probably still keep them on payroll to work on developing and maintaining safety standards. That aside you’re not operating with facts just speculation. You’ve not quantified what you think the fully realized cost is today or what it would go down to in the future.