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You're right that making it public alone doesn't solve the problem since it is easy to "cook the books". But if it's public and the results are the side effect
by CharlieDigital 4y ago
You're right that making it public alone doesn't solve the problem since it is easy to "cook the books".
But if it's public and the results are the side effect of each transaction (e.g. the accounting is rules-driven and automatic as part of the system itself), I think it can change the game.
- hef19898 4y agoIn which case cryoto would even be less private than traditional banking, I guess.
- giaour 4y agoSo, all we need for this to succeed is for the ethereum blockchain to be the ultimate source of truth for all finance. So long as “off chain” assets of variable liquidity exist, it seems like you could absolutely cook the books.