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Its getting more useful over time. There are good fiat backed stablecoins + ethereum and its peers are all proof-of-stake so no ridiculous electricity usage. Bu
by tock 3y ago
Its getting more useful over time. There are good fiat backed stablecoins + ethereum and its peers are all proof-of-stake so no ridiculous electricity usage. But the risk premium of using it(falling prey to scams, hacks, etc) makes no sense in countries with stable financial regimes.
- latchkey 3y agoThe funny thing about this though is that this is so easy to whatabout. Fraud is all over tradfi. I have a true story. The head of finance got phished. Ended up transferring money to some new bank account number they received on a friday. He called, when they opened, on Monday. The money was gone and the bank wouldn't do anything to return it. Call the police/feds they said. I think the next step is to build trustless escrow services. I know that sounds weird, but we need some sort of insurance system that if fraud happens, we can get our money back. Programmable money makes that possible and that would be an improvement on what we have today. Don't forget... how can credit cards afford to absorb the losses? Fees and penalties. Someone always has to pay.