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If you were going to design a standardised protocol for transactions, I wouldn't start from bitcoin, which makes all the wrong choices around identity, authorit
by grey-area 5y ago
If you were going to design a standardised protocol for transactions, I wouldn't start from bitcoin, which makes all the wrong choices around identity, authority, anonymity, where to place the load, how to verify transactions etc etc.
Open banking is a much better approach to federated banking.
- ethbr0 5y agoObviously, but Open Banking has been pushed instead of pulled. For a lot of markets, that isn't ever going to fly given regulatory capture. Consequently, any standard has to also offer a compelling feature over the status quo.