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No they don't gatekeep the information, your information is always available to you. Maybe they don't offer the information in the specific way that you want,
by bpfrh 5y ago
No they don't gatekeep the information, your information is always available to you.
Maybe they don't offer the information in the specific way that you want, but that can also happen in web3(Propertery API, OAUTH2 which means you have to have static ip server for authentification,etc.).
You pay for the convenience of having your data aggregated in the specified format.
That aside, banks in the EU are forced to offer api services, as specified in the PSD2 standard.
I just don't see how doing everything in a web3 solves anything better than regulations.
- lukeramsden 5y ago> I just don't see how doing everything in a web3 solves anything better than regulations. Maybe - but then, good luck getting every single country in the world, to agree on identical, completely open regulations way, way more advanced than PSD2. This is what ""web3"" (or more accurately, open and composable finance primitives such as Ethereum/alt-L1s and the surrounding ecosystem) achieves.