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> How can crypto "restore trust"? Crypto can be held and transacted in a secure and trust less way. I can store my $ in the bank which is secure but requires t
by dangerface 5y ago
> How can crypto "restore trust"?
Crypto can be held and transacted in a secure and trust less way. I can store my $ in the bank which is secure but requires trust, or I can store my $ under my bed which I trust but isn't secure.
> How can it enable "new kinds of governance"
New crypto has introduced the idea of a governance token, if you hold one of these governance tokens it gives you a vote on the policies of the token. This is similar to how you have a vote in the building society if you hold funds at that building society, much more democratic than more traditional banks.
> How can any economic benefits be distributed when by definition cryptocurrency holders are accountable to no one
Holders are accountable to the economics of the token in the same way that the government is accountable to the economics of the country. If token holders do dumb stuff that devalues their token no one will buy it and their token will be worthless in the same was as a government just printing money makes the money worth less.