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> Those things are caused by humans taking advantage of whatever system of value transfer exists, of course people will do the best they can to reinvent these t
by moistly 4y ago
> Those things are caused by humans taking advantage of whatever system of value transfer exists, of course people will do the best they can to reinvent these things on top of new value systems.
It would be nice if at least one person would leapfrog all this 1850s US Frontier West banking history, which was dominated by frauds and theft, and offer us a system working under modern reforms: Glass–Steagall Act, Sarbanes–Oxley, similar rules-that-make-it-work from Europe. Best practices.
- kybernetikos 4y agoTo use the same approach that the modern financial system uses, we'll need legal systems to catch up, I presume that that will happen, even if a lot of the community don't really want it to. Some of it can be addressed in new ways of course, but there are some aspects that fundamentally need a working legal system to implement.