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The Establishment / Wall Street abuse is what caused the massive effort behind Crypto (open source, open ledger, etc.) * Why not use a database. Because that m
by seaourfreed 5y ago
The Establishment / Wall Street abuse is what caused the massive effort behind Crypto (open source, open ledger, etc.)
* Why not use a database. Because that means the Establishment/WallStreet are the only ones with full control.
* Banks / WallStreet / Establishment long-term abuse is what created the mandate. The crypto industry is the equivalent to people taking to the streets to fix the problems.
* Open ledger fixes Bank / Wall Street / Establishment long-term above.
* Open source code prevents rigged economy theft by wall street. High Frequency, Front running, Data centers for front running, distance between exchanges for front running purposes.
* The article author is saying "Give the few establishment players full control. Data base. Ledger. Code. Block innovation. Block competition."
* Competition is the fix. 1inch.io takes in trades. It routes to the best exchanges with the smallest: Fees, margin spreads, order book fraud, etc. The fix is many 1inch.io to send trades to, that finds the lowest fee, most ethical set of exchanges. So orders are carried out ideally. Free market, competiton, not blocking new competitors, transparency (ledger + code + order book + etc.) is the fix