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I remember reading like circa ~2013 about how cryptocurrencies could usher in a new kind of bank, whereby the bank would publish the BTC addresses it used. The
by snake_plissken 5y ago
I remember reading like circa ~2013 about how cryptocurrencies could usher in a new kind of bank, whereby the bank would publish the BTC addresses it used. Then the public could decide for themselves on the stability/solvency of the bank based on how much reserves were found in these addresses, and then they could also see what was coming into and leaving the bank.
Of course the whole idea relied on trusting the bank to publicly release all of the addresses it uses. And I forget the exact problem is was supposed to help address, but it was something along the lines of like, no one really knows how exposed banks are, except for themselves and the regulators, and even then, bank regulation and stability was akin to a black box.
- errantmind 5y agoThis is being tackled in the DeFi space