4 ms·
Trusting an entity is different than trusting the specific process / people within it etc. not to mention being able to create an ecosystem. Crypto by this poi
by htkibar 4y ago
Trusting an entity is different than trusting the specific process / people within it etc. not to mention being able to create an ecosystem.
Crypto by this point is a type of platform so to speak. Actions are verifiable; and of course you need to interact with the real world. However; this doesn’t mean you have to say fuck it; just trust fully.
If we can limit the parts we need to trust; idea of auditing / verifying etc. also becomes easier. I no longer need to trust what the bank will do to let me have a transaction for example; even though I may need to trust them to verify my ID. Off the top of my head, “Are they being racist about giving me a loan?” becomes as simple as “can I get onboarded without prejudice (obviously need auditing) and is their system to allow me to get a loan look at my race (verifiable based on code.).”
I know it is popular to hate on this at the moment however as far as democratising finance and access to it goes crypto is a marvellous tool. Both sides just need to realise that the correct answer is a combination of two worlds, not either or.