So we now have synthetic stocks on blockchains. I expect in short order we will see synthetic asset-backed securities that track the prices of real ones, synth

So we now have synthetic stocks on blockchains. I expect in short order we will see synthetic asset-backed securities that track the prices of real ones, synthetic macroeconomic indicators that track the real ones, and a full suite of other financial derivatives -- maybe even "synthetic NFTs" that track the prices of "real NFTs." The number and variety of synthetic securities, AKA derivatives, that could be created on blockchains are limited only by human creativity and imagination. And all these decentralized blockchain derivatives will be accessible to retail investors worldwide, without regulatory limits on leverage, and without regulatory oversight. Sort of like a massively distributed shadow banking system. What could go wrong?