7 ms·

What OP means it that crypto's peer to peer nature means we wouldn't have to go through gatekeepers that can turn off the "Buy" button.

• SpicyLemonZest 2y ago
  But stock ownership, as a relationship between the stockholder and the company, is fundamentally not peer to peer. There's no way for you and I to settle a trade of Gamestop stock ourselves; we have to either contact Gamestop to transfer the registration or go through a trusted third party broker who holds the registration on our behalf.
  • hanniabu 2y ago
    The stocks themselves should be tokenized. Tradfi is an antiquated system. Thankfully Larry fink understands this.
  • kasey_junk 2y ago
    There used to be bearer certificates for shares that could trade without a third party being involved. They went away both because of the obvious downsides (fraud, loss etc) and the obvious upsides (efficiency) of more consolidated clearing. What’s probably less obvious but more important for securities trading is the consolidation of the extension of credit. We no longer need to go verify the cash is available with every different counterparty pair, we can instead extend the credit just by using central rules, including the turning off of the buy button. It’s not obvious to me how crypto equity trading, even if decentralized, solves the credit issue at the cash off ramp. Unless that off-ramp is truly a society that actually uses crypto as a currency.