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Yeah but the regulations would be opt-in, for people who want a safe avenue. Anyone else will still be able to interact with the underlying permissionless block
by rafale 5y ago
Yeah but the regulations would be opt-in, for people who want a safe avenue. Anyone else will still be able to interact with the underlying permissionless blockchain network.
- oblio 5y agoHave you heard of social engineering? "Hey, grandma, run this command and press enter and I'll send you the Fountain of Youth™ creme tomorrow."
- rafale 5y agoThat works with the current banking system as well. That's what made the Nigerian scams so successful.
- oblio 5y agoYup, but the current system is not a decentralized, immutable database. At least you kind-of-sort-of have a chance at reverting a transaction. Heck, my bank completely blocks my transactions over a certain limit (I need to ask for temporary limit increases through a separate process) and frequently delays transactions larger than another limit and they call me to verify that I want to do them. Sure, blockchains could do the same, through intermediaries, but then... they've reinvented banks.