> Say instead of using a bank to store your money you store it on the blockchain. Suddenly you don't have to worry about Wells Fargo opening accounts in your na

> Say instead of using a bank to store your money you store it on the blockchain. Suddenly you don't have to worry about Wells Fargo opening accounts in your name and charging you fees for those accounts. Great you solved a very specific problem and replaced it with a myriad of other problems. Who is gonna take care of your private key? Are you really that confident in your tech skills that you can keep the private key to your money safe? I am not. If someone else issues and protects your private key, what’s stopping them from charging you fees for nothing (or spending all your money). > There would be a public record of all charges the smart contract billed you for I as a bank customer have exactly zero interest in my transactions being “public” (I know they would be pseudonym, still pretty risky). The risks I imagine coming with this outweigh the supposed advantages by a lot. > tracking the history of it would be way easier than piecing together your Wells Fargo statements I don’t know in which century you live but I have a history of all my transactions of all my bank accounts in the interface of my budgeting tool. I can immediately see if there is a suspicious charge. But maybe you have a recommendation for a blockchain based budgeting tool that lets me see details of every transaction, rather than public keys. > This also would be much easier for auditors and financial crime investigators to notice. If it was so easy to investigate shady things on the blockchain why aren’t all these pump and dump scammers and ransomware groups in prison?