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>The whole problem here is people reinvented the entire financial system on top of it The whole problem is that some of what they do adds value, because it tur
by Qwertious 3y ago
>The whole problem here is people reinvented the entire financial system on top of it
The whole problem is that some of what they do adds value, because it turns out the banking industry as a whole has some valuable functions that people need.
- derefr 3y agoYeah, but ideally all of those features should be "native" features of the cryptosystem, such that they're all just as zero-trust as the core stuff the cryptosystem does with its gas currency. The problem is that developers see "this cryptosystem supports smart contracts" and interpret it as "this is a Turing-machine substrate which I can use to deploy effectively centralized / trust-us infrastructure, but then turn around and market it as being decentralized and zero-trust." If a cryptosystem supports "smart contracts", ideally they should be restricted to only to serve as an interface for extending the deployed cryptosystem with additional decentralized / zero-trust features. Sadly, it's impossible to have a compiler determine whether your code is decentralized / zero-trust.