Why bother replying if you have no clue what you are talking about... > In practice, crypto markets are not any more decentralized than others. I specifically

Why bother replying if you have no clue what you are talking about... > In practice, crypto markets are not any more decentralized than others. I specifically mentioned DEX, you are talking about CEX. > Also the way you seem to imagine we could be "removing the banks, exchanges, brokers, clearing houses, compensation chambers, back office, etc." just shows how much you don't know about how an economy works. So you are at lost of arguments and start questioning the argumenter pedigree instead? if you want to go that route: I have 15 years of experience in financial markets, am partner and founder in 2 (running) investments funds, trading equities, FX forwards, equity futures and interest rate swaps for ~1.5B AUM. I am currently a registered MIC on 5 accounts with the SFC (some of these including operational risk). I have setup multiple front office systems, work daily with middle office systems, and have a fairly good understanding of back office. I have worked extensively with clearing houses, most recently for the implementation of central clearing on interest rate products. So please, explain me how you somehow have such a deep knowledge of these subjects that you can obviously see from my comment that I "don't know much about how finance works"?! > Real-world transactions need to be reversible, need escrow, guarantees and a lot of other mechanisms that are by design not available using blockchains based assets I will play your game: you have definitely 0 idea what exists in the crypto space. Everyting your mentions and much, much more already exists. The sophistication available on crypto contracts and protocols nowadays is at the very least on par with traditional finance entities and contrats, if beyond.