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> There's no need to use blockchain technology for stock trading. You can believe what you want, I find the current system very hard to trust. With a blockcha
by logicalmonster 5y ago
> There's no need to use blockchain technology for stock trading.
You can believe what you want, I find the current system very hard to trust.
With a blockchain, you don't have to trust anybody: you can just always get verifiable accurate real-time information with no possibility for manipulation or corruption.
> The current centralized clearinghouse system works fine
I don't understand how anybody could think that a system that can't even reliably and accurately tell you how many shares of real stock are in existence, requires self-interested self-reporting for vital stats with a slap on the wrist fine for "errors", and allows shares to be sold multiple times somehow is working fine.
> is highly scalable
T+2 time for trades to clear is highly scalable?
> No one cares if a handful of retail investors lost money on foolish GameStop trades.
The issue isn't that some people made or lost money on a trade: the issue is that there's different sets of rules for different people with the current system.