We have a financial system, why not try to optimize it instead of trying to build something from scratch? The problems we have (long, inefficient transactions

We have a financial system, why not try to optimize it instead of trying to build something from scratch? The problems we have (long, inefficient transactions for example) are there because it's hard to do regulation right. You're not helping anyone by creating something impossible to regulate. It's like trying to solve misjudgements by completely getting rid of law, or trying to do law by public opinion (the consensus problem). Also there's always been a lot of new companies that serve customers with new financial tools. How you do banking did not stay the same in the last 20 years right? Yes it's slow but, as I said, it's hard to do innovation when you are playing with people's life savings. But suddenly a ponzi scheme comes and all sense is out of the window.